Hungary: Base Metal Hook Market 2023

Base Metal Hook Market Size in Hungary

After three years of decline, the Hungarian base metal hook market increased by 33% to $X in 2021. Overall, the total consumption indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -18.8% against 2017 indices. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Base Metal Hook Production in Hungary

In value terms, base metal hook production amounted to $X in 2021 estimated in export price. In general, production, however, saw a abrupt decrease. The most prominent rate of growth was recorded in 2017 when the production volume increased by 192%. Base metal hook production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Base Metal Hook Exports

Exports from Hungary

After five years of growth, overseas shipments of base metal hooks, eyes and eyelets decreased by -32.2% to X tons in 2021. Over the period under review, exports, however, recorded modest growth. The growth pace was the most rapid in 2020 when exports increased by 89%. As a result, the exports attained the peak of X tons, and then declined significantly in the following year.

In value terms, base metal hook exports dropped dramatically to $X in 2021. In general, exports showed a abrupt decline. The pace of growth appeared the most rapid in 2020 when exports increased by 77% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Iraq (X tons), Romania (X tons) and North Macedonia (X tons) were the main destinations of base metal hook exports from Hungary, with a combined 65% share of total exports. Bosnia and Herzegovina, Slovakia, Germany, Tunisia, Moldova, Ukraine, the Czech Republic, Bulgaria and India lagged somewhat behind, together comprising a further 27%.

From 2012 to 2021, the biggest increases were in Tunisia (with a CAGR of +521.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for base metal hook exported from Hungary were Romania ($X), North Macedonia ($X) and Bosnia and Herzegovina ($X), together accounting for 52% of total exports. Iraq, Germany, Tunisia, Ukraine, Slovakia, Moldova, the Czech Republic, Bulgaria and India lagged somewhat behind, together comprising a further 36%.

Among the main countries of destination, Tunisia, with a CAGR of +290.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average base metal hook export price stood at $X per ton in 2021, dropping by -19.1% against the previous year. Overall, the export price saw a deep setback. The growth pace was the most rapid in 2013 an increase of 9.1% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Ukraine ($X per ton), while the average price for exports to Iraq ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+18.9%), while the prices for the other major destinations experienced more modest paces of growth.

Base Metal Hook Imports

Imports into Hungary

In 2021, supplies from abroad of base metal hooks, eyes and eyelets increased by 6.7% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, total imports indicated perceptible growth from 2012 to 2021: its volume increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -33.6% against 2017 indices. The pace of growth was the most pronounced in 2017 when imports increased by 67% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, base metal hook imports skyrocketed to $X in 2021. Over the period under review, imports saw a relatively flat trend pattern. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

Germany (X tons), China (X tons) and Italy (X tons) were the main suppliers of base metal hook imports to Hungary, together accounting for 89% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of +24.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest base metal hook suppliers to Hungary were Germany ($X), China ($X) and Italy ($X), with a combined 70% share of total imports. France, Austria and Slovakia lagged somewhat behind, together accounting for a further 25%.

Slovakia, with a CAGR of +30.3%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average base metal hook import price stood at $X per ton in 2021, jumping by 31% against the previous year. In general, the import price, however, saw a pronounced descent. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was France ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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