Hungary: Granite Block Market 2024

Granite Block Market Size in Hungary

In 2022, the Hungarian granite block market decreased by -13.6% to $X, falling for the second year in a row after two years of growth. In general, consumption, however, saw a prominent expansion. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Granite Block Production in Hungary

In value terms, granite block production contracted to $X in 2022 estimated in export price. In general, production, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2019 with an increase of 251%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

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Granite Block Exports

Exports from Hungary

In 2022, granite block exports from Hungary surged to X tons, increasing by 143% compared with the previous year's figure. Overall, exports, however, continue to indicate a deep contraction. The most prominent rate of growth was recorded in 2019 with an increase of 152%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, granite block exports skyrocketed to $X in 2022. Over the period under review, exports, however, faced a drastic downturn. The most prominent rate of growth was recorded in 2019 when exports increased by 119%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Austria (X tons) was the main destination for granite block exports from Hungary, with a 99% share of total exports. It was followed by Romania (X kg), with a 0.7% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Austria was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-33.7% per year) and the Netherlands (-35.0% per year).

In value terms, Austria ($X) emerged as the key foreign market for granite blocks and slabs exports from Hungary, comprising 89% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 3.4% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Austria was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+16.0% per year) and Romania (-35.7% per year).

Export Prices by Country

In 2022, the average granite block export price amounted to $X per ton, shrinking by -14.8% against the previous year. Overall, the export price showed a abrupt decrease. The growth pace was the most rapid in 2015 an increase of 82%. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

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 the Netherlands ($X per ton), while the average price for exports to Austria ($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 the Netherlands (+78.6%), while the prices for the other major destinations experienced more modest paces of growth.

Granite Block Imports

Imports into Hungary

After two years of growth, overseas purchases of granite blocks and slabs decreased by -8% to X tons in 2022. Over the period under review, imports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2015 with an increase of 225%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, granite block imports reduced sharply to $X in 2022. Overall, imports, however, saw a remarkable increase. The pace of growth was the most pronounced in 2015 when imports increased by 169% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Italy (X tons), India (X tons) and South Africa (X tons) were the main suppliers of granite block imports to Hungary, with a combined 88% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +32.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of granite blocks and slabs to Hungary, comprising 59% of total imports. The second position in the ranking was taken by India ($X), with a 17% share of total imports. It was followed by South Africa, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Italy amounted to +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+33.2% per year) and South Africa (+22.2% per year).

Import Prices by Country

In 2022, the average granite block import price amounted to $X per ton, reducing by -8.3% against the previous year. In general, the import price, however, posted a tangible increase. The growth pace was the most rapid in 2020 an increase of 88%. As a result, import price attained the peak level of $X per ton. From 2021 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+8.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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