Hungary: Market for Glass Fibres and Glass Fibre Articles 2024

Market Size for Glass Fibres and Glass Fibre Articles in Hungary

In 2022, the Hungarian glass fibre and article market increased by X% to $X, rising for the second year in a row after two years of decline. Overall, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in years to come.

Production of Glass Fibres and Glass Fibre Articles in Hungary

In value terms, glass fibre and article production shrank to $X in 2022 estimated in export price. Overall, the total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2016 indices. The most prominent rate of growth was recorded in 2015 with an increase of X%. Glass fibre and article production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Exports of Glass Fibres and Glass Fibre Articles

Exports from Hungary

In 2022, after two years of growth, there was significant decline in overseas shipments of glass fibres and glass fibre articles, when their volume decreased by X% to X tons. Over the period under review, total exports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of X tons, and then reduced in the following year.

In value terms, glass fibre and article exports contracted to $X in 2022. In general, total exports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, and then reduced in the following year.

Exports by Country

Germany (X tons), Italy (X tons) and Turkey (X tons) were the main destinations of glass fibre and article exports from Hungary, together accounting for X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for glass fibre and article exported from Hungary were Germany ($X), Italy ($X) and Turkey ($X), together comprising X% of total exports.

Turkey, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2022, the average glass fibre and article export price amounted to $X per ton, standing approx. at the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Slovakia ($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 Romania (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres and Glass Fibre Articles

Imports into Hungary

In 2022, approx. X tons of glass fibres and glass fibre articles were imported into Hungary; approximately reflecting the previous year's figure. In general, total imports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2014 indices. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, glass fibre and article imports totaled $X in 2022. Over the period under review, imports continue to indicate a resilient expansion. The growth pace was the most rapid in 2021 with an increase of X%. Imports peaked in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Serbia (X tons), the Czech Republic (X tons) and Romania (X tons) were the main suppliers of glass fibre and article imports to Hungary, with a combined X% share of total imports. Slovenia, Bahrain, Germany, Italy, Turkey, Belgium, China, South Korea, Poland and Slovakia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Bahrain (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest glass fibre and article suppliers to Hungary were Serbia ($X), Italy ($X) and the Czech Republic ($X), together accounting for X% of total imports.

In terms of the main suppliers, Serbia, with a CAGR of X%, saw 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 glass fibre and article import price stood at $X per ton in 2022, surging by X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Slovenia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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