Hungary: Market for Blankets And Travelling Rugs Of Synthetic Fibres 2023

Market Size for Blankets And Travelling Rugs Of Synthetic Fibres in Hungary

In 2021, the Hungarian market for blankets and travelling rugs of synthetic fibres decreased by -39.3% to $X, falling for the third consecutive year after three years of growth. Overall, consumption, however, recorded a modest expansion. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Blankets And Travelling Rugs Of Synthetic Fibres in Hungary

In value terms, travelling rugs of synthetic fibre production surged to $X in 2021 estimated in export price. Overall, production recorded tangible growth. The pace of growth appeared the most rapid in 2013 when the production volume increased by 223% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Exports of Blankets And Travelling Rugs Of Synthetic Fibres

Exports from Hungary

In 2021, overseas shipments of blankets and travelling rugs of synthetic fibres increased by 53% to X units, rising for the third consecutive year after two years of decline. In general, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 149% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in the immediate term.

In value terms, travelling rugs of synthetic fibre exports skyrocketed to $X in 2021. Overall, exports recorded significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 114%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the near future.

Exports by Country

Romania (X units) was the main destination for travelling rugs of synthetic fibre exports from Hungary, with a 34% share of total exports. Moreover, travelling rugs of synthetic fibre exports to Romania exceeded the volume sent to the second major destination, Croatia (X units), twofold. The third position in this ranking was taken by Slovakia (X units), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to Romania totaled +68.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (+77.3% per year) and Slovakia (+44.6% per year).

In value terms, Romania ($X), Slovakia ($X) and Croatia ($X) were the largest markets for travelling rugs of synthetic fibre exported from Hungary worldwide, with a combined 63% share of total exports. These countries were followed by Bulgaria, Italy, Serbia, the Czech Republic, Slovenia and Germany, which together accounted for a further 29%.

Italy, with a CAGR of +140.0%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for blankets and travelling rugs of synthetic fibres stood at $X per unit in 2021, surging by 3% against the previous year. Over the period under review, the export price, however, recorded a abrupt contraction. The pace of growth appeared the most rapid in 2017 when the average export price increased by 20% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Germany ($X per unit), while the average price for exports to Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (-0.6%), while the prices for the other major destinations experienced a decline.

Imports of Blankets And Travelling Rugs Of Synthetic Fibres

Imports into Hungary

For the tenth year in a row, Hungary recorded growth in overseas purchases of blankets and travelling rugs of synthetic fibres, which increased by 11% to X units in 2021. In general, imports showed a significant expansion. The pace of growth was the most pronounced in 2013 when imports increased by 90% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in years to come.

In value terms, travelling rugs of synthetic fibre imports expanded remarkably to $X in 2021. Overall, imports enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 25% against the previous year. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

Poland (X units), China (X units) and Slovakia (X units) were the main suppliers of travelling rugs of synthetic fibre imports to Hungary, with a combined 81% share of total imports. These countries were followed by Bulgaria, Germany, Slovenia, Spain and Austria, which together accounted for a further 16%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bulgaria (with a CAGR of +136.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), China ($X) and Germany ($X) were the largest travelling rugs of synthetic fibre suppliers to Hungary, together accounting for 71% of total imports. Slovakia, Bulgaria, Slovenia, Spain and Austria lagged somewhat behind, together comprising a further 23%.

In terms of the main suppliers, Bulgaria, with a CAGR of +146.6%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for blankets and travelling rugs of synthetic fibres stood at $X per unit in 2021, growing by 2.4% against the previous year. Over the period under review, the import price, however, showed a abrupt decrease. The pace of growth appeared the most rapid in 2018 an increase of 11%. Over the period under review, average import prices hit record highs at $X per unit 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 Austria ($X per unit), while the price for Poland ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Slovenia (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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