Waxes; Artificial, Prepared Price in Hungary - 2023

Contents:

1. Waxes; Artificial, Prepared Price in Hungary (CIF) - 2022
2. Waxes; Artificial, Prepared Price in Hungary (FOB) - 2023
3. Waxes; Artificial, Prepared Imports in Hungary
4. Waxes; Artificial, Prepared Exports in Hungary

Waxes; Artificial, Prepared Price in Hungary (CIF) - 2022

In 2022, the average waxes; artificial, prepared import price amounted to $3,933 per ton, surging by 23% against the previous year. Over the period under review, the import price recorded a mild increase. The pace of growth was the most pronounced in 2016 an increase of 354%. Over the period under review, average import prices attained the peak figure at $27,351 per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

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 Spain ($6,124 per ton), while the price for Poland ($2,225 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Waxes; Artificial, Prepared Price in Hungary (FOB) - 2023

In July 2023, the average waxes; artificial, prepared export price amounted to $1,028 per ton, dropping by -14.8% against the previous month. Over the period under review, the export price continues to indicate a slight descent. The most prominent rate of growth was recorded in May 2023 an increase of 94% against the previous month. As a result, the export price reached the peak level of $2,584 per ton. From June 2023 to July 2023, the the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In July 2023, the country with the highest price was Slovakia ($1,474 per ton), while the average price for exports to Poland ($887 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to Spain (-1.6%), while the prices for the other major destinations experienced a decline.

Waxes; Artificial, Prepared Imports in Hungary

For the fourth consecutive year, Hungary recorded growth in overseas purchases of waxes; artificial, prepared, which increased by 3.4% to 3K tons in 2022. Overall, imports continue to indicate a significant increase. The growth pace was the most rapid in 2020 when imports increased by 314% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, waxes; artificial, prepared imports soared to $12M in 2022. The total import value increased at an average annual rate of +8.3% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Top Suppliers of Waxes; Artificial, Prepared to Hungary in 2022:

1. Germany (1606.2 tons)
2. Thailand (433.4 tons)
3. Belgium (251.5 tons)
4. Netherlands (220.6 tons)
5. Poland (100.0 tons)
6. Denmark (99.3 tons)
7. Spain (54.8 tons)
8. Austria (52.6 tons)
9. Italy (45.7 tons)
10. Japan (42.4 tons)

Waxes; Artificial, Prepared Exports in Hungary

In 2022, approx. 2.7K tons of waxes; artificial, prepared were exported from Hungary; rising by 16% on the year before. Overall, exports continue to indicate a significant expansion. The pace of growth was the most pronounced in 2020 when exports increased by 90%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in years to come.

In value terms, waxes; artificial, prepared exports declined to $3.8M in 2022. The total export value increased at an average annual rate of +7.4% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 39% against the previous year. As a result, the exports attained the peak of $4.3M, and then shrank in the following year.

Top Export Markets for Waxes; Artificial, Prepared from Hungary in 2022:

1. Poland (2475.6 tons)
2. Netherlands (35.0 tons)
3. Italy (21.0 tons)

Source: IndexBox Market Intelligence Platform