Hungary: Mineral Wool Market 2024

Mineral Wool Market Size in Hungary

In 2023, the Hungarian mineral wool market decreased by X% to $X for the first time since 2019, thus ending a three-year rising trend. In general, consumption, however, posted a buoyant increase. As a result, consumption reached the peak level of $X, and then fell dramatically in the following year.

Mineral Wool Production in Hungary

In value terms, mineral wool production declined significantly to $X in 2023 estimated in export price. Overall, the total production indicated a noticeable expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2022 when the production volume increased by X%. As a result, production attained the peak level of $X, and then reduced remarkably in the following year.

Mineral Wool Exports

Exports from Hungary

In 2023, overseas shipments of slag wool, rock wool and similar mineral wools and mixtures increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, recorded a deep downturn. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, mineral wool exports expanded markedly to $X in 2023. Over the period under review, exports, however, continue to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2022 when exports increased by X%. The exports peaked at $X in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Croatia (X tons), Romania (X tons) and Poland (X tons) were the main destinations of mineral wool exports from Hungary, together comprising X% of total exports.

From 2012 to 2023, the biggest increases were recorded for Poland (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for mineral wool exported from Hungary were Romania ($X), Croatia ($X) and Germany ($X), together accounting for X% of total exports. Austria, the Czech Republic, Poland, Serbia, Slovenia, Slovakia, Italy, Bulgaria and Turkey lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Poland, 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

The average mineral wool export price stood at $X per ton in 2023, falling by X% against the previous year. In general, export price indicated a mild expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2022 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then dropped sharply in the following year.

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 Germany ($X per ton), while the average price for exports to Croatia ($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 Bulgaria (X%), while the prices for the other major destinations experienced more modest paces of growth.

Mineral Wool Imports

Imports into Hungary

After two years of growth, supplies from abroad of slag wool, rock wool and similar mineral wools and mixtures decreased by X% to X tons in 2023. Over the period under review, total imports indicated a tangible expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth was the most pronounced in 2022 with an increase of X%. As a result, imports attained the peak of X tons, and then dropped rapidly in the following year.

In value terms, mineral wool imports shrank markedly to $X in 2023. In general, total imports indicated strong growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. Imports peaked at $X in 2022, and then fell markedly in the following year.

Imports by Country

Slovakia (X tons), Poland (X tons) and the Czech Republic (X tons) were the main suppliers of mineral wool imports to Hungary, with a combined X% share of total imports. Croatia, Germany, Serbia, Japan and Turkey lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Turkey (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest mineral wool suppliers to Hungary were Japan ($X), Poland ($X) and Slovakia ($X), together comprising X% of total imports. The Czech Republic, Croatia, Germany, Serbia and Turkey lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Turkey, 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 mineral wool import price stood at $X per ton in 2023, waning by X% against the previous year. Overall, import price indicated a perceptible increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, mineral wool import price decreased by X% against 2017 indices. The pace of growth was the most pronounced in 2013 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform