Hungary: Market for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles 2024

Market Size for Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in Hungary

In 2022, the Hungarian market for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles increased by X% to $X, rising for the second year in a row after three years of decline. Over the period under review, consumption showed a buoyant expansion. Consumption of peaked in 2022 and is expected to retain growth in the immediate term.

Production of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles in Hungary

In value terms, production of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles shrank markedly to $X in 2022 estimated in export price. Overall, production recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2016 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2017 to 2022, production of growth failed to regain momentum.

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Exports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Exports from Hungary

In 2022, the amount of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles exported from Hungary soared to X tons, jumping by X% against 2021. Overall, exports continue to indicate a noticeable increase. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a abrupt downturn. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles from Hungary, with a X% share of total exports. Moreover, exports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles to Germany exceeded the volume sent to the second major destination, Turkey (X tons), sevenfold. The Czech Republic (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Germany amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and the Czech Republic (X% per year).

In value terms, Germany ($X), Turkey ($X) and the Czech Republic ($X) were the largest markets for glass fibre filament, roving, and staple glass fibre article exported from Hungary worldwide, together accounting for X% of total exports.

Among the main countries of destination, Turkey, 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 export price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the export price, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2019 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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

Imports of Glass Fibre Filaments, Rovings, Chopped Strands, and Staple Glass Fibre Articles

Imports into Hungary

For the third consecutive year, Hungary recorded growth in supplies from abroad of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles, which increased by X% to X tons in 2022. In general, total imports indicated prominent growth 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 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles surged to $X in 2022. Overall, imports recorded a resilient expansion. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Bahrain (X tons), Turkey (X tons) and South Korea (X tons) were the main suppliers of imports of glass fibre filaments, rovings, chopped strands, and staple glass fibre articles to Hungary, together comprising X% of total imports. Belgium, China, Malaysia, Germany, Romania, Norway, Slovakia, Slovenia, the Czech Republic and Egypt lagged somewhat behind, together accounting for a further X%.

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

In value terms, Bahrain ($X), Belgium ($X) and South Korea ($X) appeared to be the largest glass fibre filament, roving, and staple glass fibre article suppliers to Hungary, with a combined X% share of total imports. Turkey, China, Germany, Malaysia, Romania, Norway, Slovakia, Slovenia, the Czech Republic and Egypt lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Malaysia, with a CAGR of X%, saw 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

The average import price for glass fibre filaments, rovings, chopped strands, and staple glass fibre articles stood at $X per ton in 2022, growing by X% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Germany ($X per ton) and the Czech Republic ($X per ton), while the price for Slovenia ($X per ton) and Turkey ($X per ton) were amongst the lowest.

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

Source: IndexBox Platform

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