Hungary: Resinoids Market 2024

Resinoids Market Size in Hungary

The Hungarian resinoids market shrank dramatically to $X in 2022, reducing by X% against the previous year. Overall, consumption recorded a deep downturn. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Resinoids Production in Hungary

In value terms, resinoids production reduced to $X in 2022 estimated in export price. In general, production recorded a deep reduction. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Resinoids Exports

Exports from Hungary

In 2022, the amount of resinoids exported from Hungary surged to X tons, growing by X% against the year before. Overall, exports recorded a resilient increase. The pace of growth appeared the most rapid in 2018 with an increase of X%. The exports peaked in 2022 and are likely to continue growth in years to come.

In value terms, resinoids exports skyrocketed to $X in 2022. In general, exports saw a significant increase. The pace of growth was the most pronounced in 2018 with an increase of X%. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

The United States (X tons) was the main destination for resinoids exports from Hungary, accounting for a X% share of total exports. Moreover, resinoids exports to the United States exceeded the volume sent to the second major destination, Serbia (X kg), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled X.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (X% per year) and Croatia (X% per year).

In value terms, the United States ($X) remains the key foreign market for resinoids exports from Hungary, comprising X% of total exports. The second position in the ranking was held by Serbia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (X% per year) and Croatia (X% per year).

Export Prices by Country

The average resinoids export price stood at $X per ton in 2022, surging by X% against the previous year. In general, the export price saw significant growth. The growth pace was the most rapid in 2021 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in the near future.

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

Resinoids Imports

Imports into Hungary

In 2022, purchases abroad of resinoids decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, imports saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, resinoids imports fell dramatically to $X in 2022. Overall, imports continue to indicate a slight slump. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest resinoids supplier to Hungary, with a X% share of total imports. Moreover, resinoids imports from the Netherlands exceeded the figures recorded by the second-largest supplier, India (X kg), more than tenfold. The third position in this ranking was held by Germany (X kg), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Germany (X% per year).

In value terms, the United States ($X), Mexico ($X) and the Netherlands ($X) appeared to be the largest resinoids suppliers to Hungary, together comprising X% of total imports. India, Germany and Spain lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, India, with a CAGR of X%, 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 resinoids import price stood at $X per ton in 2022, falling by X% against the previous year. Overall, the import price, however, saw a strong increase. The growth pace was the most rapid in 2021 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton, and then reduced markedly in the following year.

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 United States ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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