Report Update: May 1, 2024

Hungary - Processed Petroleum Oils and Distillates - Market Analysis, Forecast, Size, Trends And Insights

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Price for Processed Petroleum Oils and Distillates in Hungary - 2023

Price for Processed Petroleum Oils and Distillates in Hungary (CIF) - 2022

The average import price for processed petroleum oils and distillates stood at $493 per ton in 2022, therefore, remained relatively stable against the previous year. In general, the import price saw a abrupt contraction. The pace of growth was the most pronounced in 2018 when the average import price increased by 28% against the previous year. The import price peaked at $1,038 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Bulgaria ($546 per ton) and the Czech Republic ($519 per ton), while the price for Romania ($399 per ton) and Croatia ($453 per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovenia (-7.4%), while the prices for the other major suppliers experienced a decline.

Price for Processed Petroleum Oils and Distillates in Hungary (FOB) - 2023

In July 2023, the average export price for processed petroleum oils and distillates amounted to $981 per ton, remaining relatively unchanged against the previous month. In general, the export price saw a perceptible descent. The growth pace was the most rapid in January 2023 when the average export price increased by 23% month-to-month. Over the period under review, the average export prices reached the peak figure at $1,651 per ton in February 2023; however, from March 2023 to July 2023, the export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In July 2023, the highest price was recorded for prices to Austria ($1,154 per ton) and Romania ($1,126 per ton), while the average price for exports to Serbia ($778 per ton) and the UK ($817 per ton) were amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Austria (+2.0%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Processed Petroleum Oils and Distillates in Hungary

In 2022, the amount of processed petroleum oils and distillates imported into Hungary surged to 4.9M tons, growing by 35% compared with the previous year. Over the period under review, imports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 46% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, processed petroleum oils and distillates imports skyrocketed to $2.4B in 2022. Overall, total imports indicated a remarkable increase from 2019 to 2022: its value increased at an average annual rate of +7.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +97.4% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 46%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Import of Processed Petroleum Oils and Distillates in Hungary (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Slovakia	366	169	325	691	23.6%
Austria	649	456	689	604	-2.4%
Romania	131	84.8	154	244	23.0%
Germany	69.5	63.9	139	241	51.4%
Slovenia	98.8	79.9	128	191	24.6%
Czech Republic	94.9	73.4	142	116	6.9%
Bulgaria	50.0	27.0	34.1	110	30.1%
Russia	315	111	18.4	N/A	-75.8%
Others	195	156	157	214	3.1%
Total	1,969	1,221	1,786	2,410	7.0%

Top Suppliers of Processed Petroleum Oils and Distillates to Hungary in 2022:

Slovakia (1436.3K tons)
Austria (1232.9K tons)
Romania (610.1K tons)
Germany (465.7K tons)
Slovenia (384.5K tons)
Czech Republic (223.2K tons)
Bulgaria (200.7K tons)

Exports of Processed Petroleum Oils and Distillates in Hungary

In 2022, the amount of processed petroleum oils and distillates exported from Hungary declined remarkably to 1.2M tons, with a decrease of -20.7% against the previous year's figure. In general, exports showed a drastic downturn. The smallest decline of -12.9% was in 2020.

In value terms, processed petroleum oils and distillates exports surged to $1.3B in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Export of Processed Petroleum Oils and Distillates in Hungary (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Ukraine	20.7	16.8	22.0	225	121.5%
Romania	238	288	307	180	-8.9%
Serbia	227	168	198	154	-12.1%
Austria	222	151	99.8	136	-15.1%
Slovakia	137	43.3	56.3	108	-7.6%
Slovenia	72.7	51.0	85.7	97.6	10.3%
Germany	25.1	11.9	46.6	51.8	27.3%
Poland	70.7	18.9	20.3	45.7	-13.5%
Croatia	89.5	54.9	51.7	42.6	-21.9%
United Kingdom	8.8	3.0	7.6	35.8	59.6%
Czech Republic	40.9	21.3	32.3	25.3	-14.8%
Others	158	85.4	112	219	11.5%
Total	1,310	913	1,039	1,322	0.3%

Top Export Markets for Processed Petroleum Oils and Distillates from Hungary in 2022:

Romania (188.6K tons)
Ukraine (170.5K tons)
Austria (160.2K tons)
Serbia (150.6K tons)
Slovakia (108.2K tons)
Slovenia (90.6K tons)
Germany (44.6K tons)
Poland (39.8K tons)
Croatia (36.0K tons)
United Kingdom (29.3K tons)
Czech Republic (15.9K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for processed petroleum oils and distillates in Hungary. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Hungary

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Hungary
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
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This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023