Alicyclic hydrocarbons market in Hungary

Earlier Report Observations

The market for alicyclic hydrocarbons in Hungary was valued at 2.2 million dollars in 2018. It declined by 10% to 2.0 million dollars in 2019, largely due to mandatory critical stockpiling regulations that required government approval for using reserves, constraining product availability. Supported by the government's energy independence strategy prioritizing domestic output, the market recovered to 2.0 million dollars in 2021, driven by increased hydrocarbon production and MOL Group's expansion of its stake in TVK to 86.56%, which enhanced synthetic alicyclic derivative manufacturing capacity.

The market contracted sharply to 1.3 million dollars in 2023, a 35% drop from 2021. This decline coincided with phased reductions in tax benefits for hybrid and plug-in hybrid vehicles starting in 2022, reducing demand for alicyclic solvents used in automotive applications. Additionally, the 2022 discovery of a new oil field by MOL and O&GD expanded the domestic resource base, increasing supply amid shifting demand patterns.

Production alicyclic hydrocarbons in Hungary

In value, 2018-2021, K $ US

In 2021, Hungary's production of alicyclic hydrocarbons was valued at 2,263 thousand US dollars, marking a sharp year-over-year decline of 26.2%. Looking at the period from 2018 to 2021, overall production decreased by 4.6%, which translates to an average annual reduction of 1.6%.

Annual dynamics of production in Hungary in value, 2018-2021, K $ US

In kind, 2018-2021, t

In 2021, Hungary produced 1,543 tonnes of alicyclic hydrocarbons, reflecting a solid year-over-year increase of 14.8%. Over the 2018-2021 period, production grew by 61.2%, with a compound annual growth rate of 17.3%.

Annual dynamics of production in Hungary in kind, 2018-2021, t

Exports alicyclic hydrocarbons from Hungary

Exports in kind, t

In 2021, Hungary's exports of alicyclic hydrocarbons reached 1,635 tonnes, showing a 21.9% rise compared to 2020. From 2018 to 2021, exports increased by 69.8%, with a compound annual growth rate of 19.3%. The largest increase occurred in 2019 at 46.1%, while the largest decline was in 2020 at 4.6%.

Annual dynamics of product's exports from Hungary in kind, 2018-2021, t

Between 2018 and 2021, Germany, Switzerland, and France were the main markets for Hungary's alicyclic hydrocarbon exports in kind, accounting for 33.8%, 30.2%, and 28.6% of the total, respectively. Together, these three countries represented 92.7% of all export flows.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Hungary in kind, 2018-2021

Exports in value, K $ US

In 2021, Hungary's alicyclic hydrocarbon exports reached 2,780 thousand US dollars, constituting a sharp 47.8% increase compared to the previous year. Over the 2018-2021 period, exports grew by 69.8%, with a compound annual growth rate of 19.3%. The largest decline was recorded in 2020 at 17.0%.

Annual dynamics of product's exports from Hungary in value, 2018-2021, K $ US

From 2018 to 2021, Germany, Switzerland, and France accounted for the largest shares of Hungary's alicyclic hydrocarbon exports in value terms, with 35.3%, 31.5%, and 24.4%, respectively. Combined, these three markets made up 91.2% of total export flows.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Hungary in value, 2018-2021

Imports alicyclic hydrocarbons to Hungary

Imports in kind, t

The market showed an unstable trend throughout the period. Imports bottomed in 2018 and peaked in 2019, with a 3.4-fold difference between these years. In 2021, Hungary imported 991 tonnes of alicyclic hydrocarbons, marking a sudden year-over-year gain of 74.0%. The largest increase was recorded in 2019 at 241.3%, while the largest decline occurred in 2020 at 59.1%.

Annual dynamics of product's imports to Hungary in kind, 2018-2021, t

Between 2018 and 2021, Germany, Belgium, and Italy were the largest sources of Hungary's alicyclic hydrocarbon imports in kind, accounting for 47.5%, 17.7%, and 13.0% of the total, respectively. Together, these three countries comprised 78.2% of all import flows.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Hungary in kind, 2018-2021

Imports in value, K $ US

In 2021, Hungary imported alicyclic hydrocarbons worth 2,566 thousand US dollars, which is 61.3% more than in 2020. Over the 2018-2021 period, imports increased by 74.4%, with a compound annual growth rate of 20.4%. The largest increase was recorded in 2019 at 69.9%, while the largest decline occurred in 2020 at 36.4%.

Annual dynamics of product's imports to Hungary in value, 2018-2021, K $ US

Throughout 2018-2021, Germany, Belgium, and Slovakia formed the key group of partners for Hungary's alicyclic hydrocarbon imports in value terms, accounting for 31.4%, 13.0%, and 11.5% of the total, respectively. Jointly, these three countries represented 55.9% of all import flows.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Hungary in value, 2018-2021