Hungary: Synthetic Latex Rubber Market 2024

Synthetic Latex Rubber Market Size in Hungary

In 2022, the Hungarian synthetic latex rubber market increased by X% to $X, rising for the second consecutive year after two years of decline. Overall, consumption recorded a prominent expansion. Synthetic latex rubber consumption peaked in 2022 and is likely to see gradual growth in the near future.

Synthetic Latex Rubber Exports

Exports from Hungary

After five years of decline, overseas shipments of synthetic latex rubber increased by X% to X tons in 2022. Overall, exports, however, recorded a abrupt decrease. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, synthetic latex rubber exports skyrocketed to $X in 2022. Over the period under review, exports, however, showed a noticeable decline. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Serbia (X tons), North Macedonia (X tons) and Kosovo (X tons) were the main destinations of synthetic latex rubber exports from Hungary, with a combined X% share of total exports. Austria, Germany and France lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Serbia ($X), North Macedonia ($X) and Kosovo ($X) were the largest markets for synthetic latex rubber exported from Hungary worldwide, with a combined X% share of total exports. Austria, Germany and France lagged somewhat behind, together comprising a further X%.

Austria, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average synthetic latex rubber export price amounted to $X per ton, reducing by X% against the previous year. Over the period under review, export price indicated a slight increase from 2012 to 2022: its price 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, synthetic latex rubber export price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 an increase of X%. As a result, the export price attained the peak level of $X per ton, and then dropped in the following year.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Germany ($X per ton) and Austria ($X per ton), while the average price for exports to North Macedonia ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kosovo (X%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Latex Rubber Imports

Imports into Hungary

In 2022, overseas purchases of synthetic latex rubber increased by X% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, synthetic latex rubber imports surged to $X in 2022. In general, imports continue to indicate a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Germany (X tons) constituted the largest synthetic latex rubber supplier to Hungary, with a X% share of total imports. Moreover, synthetic latex rubber imports from Germany exceeded the figures recorded by the second-largest supplier, South Korea (X tons), twofold. The third position in this ranking was taken by Italy (X tons), with a X% share.

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

In value terms, South Korea ($X), Germany ($X) and Italy ($X) appeared to be the largest synthetic latex rubber suppliers to Hungary, with a combined X% share of total imports. China, Belgium, the Czech Republic and France lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, China, 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 synthetic latex rubber import price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the import price recorded prominent growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 South Korea ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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