Hungary: Market for Palmitic Acid, Stearic Acid, Their Salts And Esters 2024

Market Size for Palmitic Acid, Stearic Acid, Their Salts And Esters in Hungary

In 2023, the Hungarian market for palmitic acid, stearic acid, their salts and esters decreased by X% to $X for the first time since 2019, thus ending a three-year rising trend. Over the period under review, consumption continues to indicate a pronounced decline. Consumption of peaked at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Exports of Palmitic Acid, Stearic Acid, Their Salts And Esters

Exports from Hungary

In 2023, shipments abroad of palmitic acid, stearic acid, their salts and esters was finally on the rise to reach X tons after two years of decline. Over the period under review, exports posted strong growth. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, the exports of hit record highs at X tons in 2020; however, from 2021 to 2023, the exports remained at a lower figure.

In value terms, exports of palmitic acid, stearic acid, their salts and esters totaled $X in 2023. In general, exports showed a prominent expansion. The pace of growth appeared the most rapid in 2014 with an increase of X%. The exports peaked at $X in 2021; however, from 2022 to 2023, the exports failed to regain momentum.

Exports by Country

Romania (X tons) was the main destination for exports of palmitic acid, stearic acid, their salts and esters from Hungary, accounting for a X% share of total exports. Moreover, exports of palmitic acid, stearic acid, their salts and esters to Romania exceeded the volume sent to the second major destination, Portugal (X tons), threefold. The third position in this ranking was taken by Russia (X tons), with an X% share.

From 2012 to 2023, the average annual growth rate of volume to Romania amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Portugal (X% per year) and Russia (X% per year).

In value terms, the largest markets for palmitic acid, stearic acid, their salts and esters exported from Hungary were Romania ($X), Serbia ($X) and Portugal ($X), with a combined X% share of total exports.

Among the main countries of destination, Serbia, with a CAGR of X%, 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 2023, the average export price for palmitic acid, stearic acid, their salts and esters amounted to $X per ton, which is down by X% against the previous year. In general, the export price continues to indicate a abrupt decline. The growth pace was the most rapid in 2017 an increase of X%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Slovenia ($X per ton), while the average price for exports to Croatia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Slovenia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Palmitic Acid, Stearic Acid, Their Salts And Esters

Imports into Hungary

In 2023, supplies from abroad of palmitic acid, stearic acid, their salts and esters decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2023, imports remained at a lower figure.

In value terms, imports of palmitic acid, stearic acid, their salts and esters declined markedly to $X in 2023. In general, imports saw a noticeable reduction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports of reached the maximum at $X in 2012; however, from 2013 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Italy (X tons) constituted the largest supplier of palmitic acid, stearic acid, their salts and esters to Hungary, with a X% share of total imports. Moreover, imports of palmitic acid, stearic acid, their salts and esters from Italy exceeded the figures recorded by the second-largest supplier, Sweden (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Italy totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Sweden (X% per year) and Germany (X% per year).

In value terms, Italy ($X), Germany ($X) and Sweden ($X) appeared to be the largest palmitic acid, stearic acid, their salts and esters suppliers to Hungary, with a combined X% share of total imports. Turkey, Singapore, Belgium, China, the Netherlands and Slovenia lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Singapore, with a CAGR of X%, 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 import price for palmitic acid, stearic acid, their salts and esters stood at $X per ton in 2023, almost unchanged from the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2022 when the average import price increased by X%. The import price peaked at $X per ton in 2014; however, from 2015 to 2023, 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 Germany ($X per ton), while the price for Sweden ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform