Hungary: Market for Nitric Acid And Sulphonitric Acids 2022

Market Size for Nitric Acid And Sulphonitric Acids in Hungary

For the fourth consecutive year, the Hungarian nitric and sulphonitric acids market recorded growth in sales value, which increased by X% to $X in 2021. Overall, consumption recorded a mild downturn. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Production of Nitric Acid And Sulphonitric Acids in Hungary

In value terms, nitric and sulphonitric acids production shrank modestly to $X in 2021 estimated in export price. Over the period under review, production showed a noticeable descent. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. Nitric and sulphonitric acids production peaked at $X in 2015; however, from 2016 to 2021, production failed to regain momentum.

Exports of Nitric Acid And Sulphonitric Acids

Exports from Hungary

In 2021, shipments abroad of nitric acid and sulphonitric acids increased by X% to X tons, rising for the third consecutive year after three years of decline. In general, exports, however, continue to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, nitric and sulphonitric acids exports rose significantly to $X in 2021. Over the period under review, exports, however, recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Serbia (X tons), the Czech Republic (X tons) and Greece (X tons) were the main destinations of nitric and sulphonitric acids exports from Hungary, with a combined X% share of total exports.

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

In value terms, Serbia ($X), the Czech Republic ($X) and Greece ($X) were the largest markets for nitric and sulphonitric acids exported from Hungary worldwide, with a combined X% share of total exports.

In terms of the main countries of destination, Greece, with a CAGR of +X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average nitric and sulphonitric acids export price amounted to $X per ton, surging by X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Poland ($X per ton), while the average price for exports to the Czech Republic ($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 Poland (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Nitric Acid And Sulphonitric Acids

Imports into Hungary

In 2021, supplies from abroad of nitric acid and sulphonitric acids increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, nitric and sulphonitric acids imports surged to $X in 2021. In general, imports, however, recorded a slight curtailment. The growth pace was the most rapid in 2016 with an increase of X%. Imports peaked at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, the Czech Republic (X tons) constituted the largest nitric and sulphonitric acids supplier to Hungary, accounting for a X% share of total imports. Moreover, nitric and sulphonitric acids imports from the Czech Republic exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold. The third position in this ranking was occupied by Germany (X tons), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the Czech Republic totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+X% per year) and Germany (+X% per year).

In value terms, the Czech Republic ($X) constituted the largest supplier of nitric and sulphonitric acids to Hungary, comprising X% of total imports. The second position in the ranking was occupied by Poland ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2021, the average annual growth rate of value from the Czech Republic stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+X% per year) and Germany (+X% per year).

Import Prices by Country

The average nitric and sulphonitric acids import price stood at $X per ton in 2021, increasing by X% against the previous year. Over the period under review, the import price, however, saw a slight setback. The pace of growth appeared the most rapid in 2017 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform