Hungary: Market for Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) 2024

Market Size for Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) in Hungary

The Hungarian propyl and isopropyl alcohol market shrank notably to $X in 2022, waning by -15.9% against the previous year. Over the period under review, consumption, however, recorded tangible growth. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Production of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol) in Hungary

In value terms, propyl and isopropyl alcohol production fell rapidly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when the production volume increased by 70%. Propyl and isopropyl alcohol production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

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Exports of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

Exports from Hungary

In 2022, shipments abroad of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) decreased by -6.1% to X tons for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2020 when exports increased by 76% against the previous year. The exports peaked at X tons in 2021, and then fell in the following year.

In value terms, propyl and isopropyl alcohol exports contracted to $X in 2022. Over the period under review, exports, however, showed a strong increase. The most prominent rate of growth was recorded in 2020 when exports increased by 127% against the previous year. The exports peaked at $X in 2021, and then dropped in the following year.

Exports by Country

Romania (X tons) was the main destination for propyl and isopropyl alcohol exports from Hungary, with a 58% share of total exports. Moreover, propyl and isopropyl alcohol exports to Romania exceeded the volume sent to the second major destination, Austria (X tons), fourfold. Italy (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Romania stood at +15.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+49.4% per year) and Italy (+56.4% per year).

In value terms, Romania ($X) remains the key foreign market for propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) exports from Hungary, comprising 44% of total exports. The second position in the ranking was taken by Austria ($X), with a 17% share of total exports. It was followed by Italy, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Romania stood at +15.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+50.4% per year) and Italy (+47.7% per year).

Export Prices by Country

In 2022, the average propyl and isopropyl alcohol export price amounted to $X per ton, approximately mirroring the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average export price increased by 29% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2021 to 2022, the average 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 Serbia ($X per ton), while the average price for exports to Romania ($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 Serbia (+19.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Propan-1-Ol (Propyl Alcohol) And Propan-2-Ol (Isopropyl Alcohol)

Imports into Hungary

In 2022, purchases abroad of propan-1-ol (propyl alcohol) and propan-2-ol (isopropyl alcohol) decreased by -15.6% to X tons, falling for the second consecutive year after six years of growth. In general, imports, however, showed a pronounced increase. The most prominent rate of growth was recorded in 2020 when imports increased by 28% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, propyl and isopropyl alcohol imports shrank to $X in 2022. Over the period under review, imports, however, saw a resilient expansion. The growth pace was the most rapid in 2020 with an increase of 84%. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The Netherlands (X tons), Belgium (X tons) and Germany (X tons) were the main suppliers of propyl and isopropyl alcohol imports to Hungary, together accounting for 83% of total imports. Bulgaria, the Czech Republic, Poland, Turkey and Italy lagged somewhat behind, together accounting for a further 14%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +49.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest propyl and isopropyl alcohol suppliers to Hungary were the Netherlands ($X), Belgium ($X) and Germany ($X), with a combined 81% share of total imports. Bulgaria, the Czech Republic, Italy, Turkey and Poland lagged somewhat behind, together accounting for a further 14%.

In terms of the main suppliers, Bulgaria, with a CAGR of +59.5%, recorded 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 propyl and isopropyl alcohol import price stood at $X per ton in 2022, growing by 1.9% against the previous year. Over the period under review, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, propyl and isopropyl alcohol import price decreased by -9.7% against 2020 indices. The pace of growth appeared the most rapid in 2017 an increase of 51%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, 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 ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bulgaria (+9.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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