Hungary: Ethylene Glycol Market 2024

Ethylene Glycol Market Size in Hungary

The Hungarian ethylene glycol market declined to $X in 2022, which is down by -9.6% against the previous year. In general, consumption, however, saw a slight slump. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Ethylene Glycol Production in Hungary

In value terms, ethylene glycol production declined rapidly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a strong increase. The pace of growth appeared the most rapid in 2019 with an increase of 1,338% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Ethylene Glycol Exports

Exports from Hungary

After four years of growth, shipments abroad of ethylene glycol (ethanediol) decreased by -95.7% to X tons in 2022. Overall, exports faced a drastic downturn. The pace of growth appeared the most rapid in 2016 when exports increased by 271% against the previous year. The exports peaked at X tons in 2021, and then reduced remarkably in the following year.

In value terms, ethylene glycol exports dropped markedly to $X in 2022. In general, exports showed a perceptible descent. The pace of growth was the most pronounced in 2020 with an increase of 266% against the previous year. As a result, the exports attained the peak of $X. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ukraine (X tons) was the main destination for ethylene glycol exports from Hungary, with a 67% share of total exports. Moreover, ethylene glycol exports to Ukraine exceeded the volume sent to the second major destination, Romania (X tons), twofold. Brazil (X kg) ranked third in terms of total exports with a 3.9% share.

From 2012 to 2022, the average annual growth rate of volume to Ukraine stood at +43.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-17.7% per year) and Brazil (-6.0% per year).

In value terms, the largest markets for ethylene glycol exported from Hungary were Brazil ($X), Ukraine ($X) and Romania ($X), together comprising 98% of total exports.

In terms of the main countries of destination, Ukraine, with a CAGR of +47.8%, recorded the highest growth rate of 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

In 2022, the average ethylene glycol export price amounted to $X per ton, jumping by 168% against the previous year. Overall, the export price saw a prominent increase. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Romania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+35.4%), while the prices for the other major destinations experienced more modest paces of growth.

Ethylene Glycol Imports

Imports into Hungary

In 2022, the amount of ethylene glycol (ethanediol) imported into Hungary rose notably to X tons, with an increase of 5.4% on the previous year. Overall, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 23% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, ethylene glycol imports declined notably to $X in 2022. In general, imports, however, continue to indicate a perceptible downturn. The pace of growth appeared the most rapid in 2021 when imports increased by 77%. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Belgium (X tons), Germany (X tons) and Poland (X tons) were the main suppliers of ethylene glycol imports to Hungary, together comprising 90% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +21.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest ethylene glycol suppliers to Hungary were Belgium ($X), Germany ($X) and Poland ($X), with a combined 89% share of total imports.

Among the main suppliers, Belgium, with a CAGR of +15.1%, saw the highest growth rate of 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 ethylene glycol import price stood at $X per ton in 2022, dropping by -25.2% against the previous year. In general, the import price saw a noticeable decrease. The most prominent rate of growth was recorded in 2021 when the average import price increased by 52% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (-1.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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