Hungary: Market for Oil And Water Paints And Varnishes 2024

Market Size for Oil And Water Paints And Varnishes in Hungary

In 2022, the Hungarian market for oil and water paints and varnishes increased by X% to $X, rising for the second consecutive year after four years of decline. In general, consumption, however, showed a perceptible contraction. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Exports of Oil And Water Paints And Varnishes

Exports from Hungary

In 2022, overseas shipments of oil and water paints and varnishes increased by X% to X tons, rising for the fourth year in a row after five years of decline. In general, exports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports of hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, exports of oil and water paints and varnishes expanded to $X in 2022. Overall, exports showed a prominent increase. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, the exports of reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Croatia (X tons), Austria (X tons) and Slovakia (X tons) were the main destinations of exports of oil and water paints and varnishes from Hungary, with a combined X% share of total exports. The Czech Republic, Romania, Slovenia, Germany and Bulgaria lagged somewhat behind, together comprising a further X%.

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

In value terms, Croatia ($X), Austria ($X) and Slovakia ($X) were the largest markets for oil and water paints and varnishes exported from Hungary worldwide, with a combined X% share of total exports. The Czech Republic, Slovenia, Romania, Germany and Bulgaria lagged somewhat behind, together comprising a further X%.

Slovenia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among 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 oil and water paints and varnishes stood at $X per ton in 2022, which is down by X% against the previous year. Overall, the export price, however, posted mild growth. The most prominent rate of growth was recorded in 2015 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to the Czech Republic ($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 (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Oil And Water Paints And Varnishes

Imports into Hungary

In 2022, purchases abroad of oil and water paints and varnishes increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, total imports indicated a slight expansion 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 2020 indices. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports of reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, imports of oil and water paints and varnishes declined modestly to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports of hit record highs at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Luxembourg (X tons), Germany (X tons) and Italy (X tons) were the main suppliers of imports of oil and water paints and varnishes to Hungary, with a combined X% share of total imports.

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

In value terms, Germany ($X), Luxembourg ($X) and Italy ($X) constituted the largest oil and water paints and varnishes suppliers to Hungary, together comprising X% of total imports.

In terms of the main suppliers, Luxembourg, with a CAGR of X%, 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

In 2022, the average import price for oil and water paints and varnishes amounted to $X per ton, waning by X% against the previous year. Overall, the import price continues to indicate a mild shrinkage. The most prominent rate of growth was recorded in 2019 an increase of X%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices failed to regain momentum.

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 the UK ($X per ton), while the price for Serbia ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :