Amino-resins in primary forms market in Hungary

Earlier Report Observations

The Hungarian amino-resins market volume experienced significant fluctuations between 2018 and 2022. After a sharp contraction to 25.0 thousand tons in 2019, driven by a steep drop in imports, the market recovered to 31.8 thousand tons by 2021. This recovery coincided with legislative amendments adopted by the Hungarian Parliament in June 2021, which introduced changes affecting chemical sectors. The market's value saw a more pronounced surge in 2021, reaching $121.1 million, partly due to Hungary achieving the highest amino-resin export price in the EU that year. However, by 2022, the market volume declined again to 24.6 thousand tons.

Hungary's production of amino-resins grew steadily from 179.2 thousand tons in 2018 to a peak of 223.0 thousand tons in 2020, supporting its role as a major net exporter. Export volumes expanded consistently, with Hungary maintaining a significant share of EU-wide amino-resin trade. This export-oriented growth was underpinned by a sustained compound annual growth rate in shipments, reflecting stable international demand for Hungarian production.

The market operates within a framework of EU regulations, including REACH and waste management directives, which Hungary implemented into national law. This regulatory environment, along with the country's integration into the European single market, shapes production standards and trade flows. Hungary's position as a premium supplier is reinforced by its high export prices and its status as a key exporter to other European markets like Estonia.

Production amino-resins in primary forms in Hungary

In value, 2018-2021, M $ US

Hungary's production of amino-resins in primary forms has increased for the second consecutive year. In 2021, output reached 655.4 million US dollars, marking a sharp 69.7% rise from 2020. Looking at the period from 2018 to 2021, production grew by 43.7%, which translates to an annualized rate of 12.8%. The lowest production value was recorded in 2019 at 350.4 million US dollars, with the largest decline of 23.2% also occurring that year.

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

In kind, 2018-2021, K t

Following two years of growth, Hungary's production of amino-resins in primary forms declined in 2021. Output amounted to 217.8 thousand tonnes, down 2.3% from 2020. Over the 2018-2021 period, production increased by 21.6%, equating to an annualized growth rate of 6.7%. The peak production volume was achieved in 2020 at 223.0 thousand tonnes, while the largest increase of 16.7% was recorded in 2019.

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

Exports amino-resins in primary forms from Hungary

Exports in kind, K t

Hungary's exports of amino-resins in primary forms have risen for the third consecutive year. In 2021, the country exported 210.0 thousand tonnes, representing a 1.0% increase compared to 2020. Between 2018 and 2021, exports grew by 23.7%, which corresponds to an annualized rate of 7.3%.

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

From 2018 to 2021, Hungary's export structure in kind was highly diversified. Poland accounted for 23.5% of exports, Germany for 11.5%, and Romania for 9.2%. Together, these three countries represented just 44.3% of total export flows, with the remaining 55.7% distributed among numerous smaller trading partners.

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, M $ US

The data reveals irregular changes, indicating a volatile market environment. Export values reached their lowest point in 2019 and peaked in 2021, with a 1.9-fold difference between these years. In 2021, Hungary's exports of amino-resins in primary forms amounted to 593.9 million US dollars, showing a substantial 76.6% increase compared to the previous year. The minimum value was recorded in 2019 at 315.7 million US dollars, with the largest decline of 24.2% also occurring that year.

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

From 2018 to 2021, Poland, Germany, and Romania were the largest but not dominant buyers of Hungarian amino-resins in primary forms in value terms. Poland accounted for 21.7% of exports, Germany for 12.8%, and Romania for 8.7%. Together, these three countries represented 43.2% of total export value, against a broad background of smaller partners.

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

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

Imports amino-resins in primary forms to Hungary

Imports in kind, K t

After two years of decline, Hungary's imports of amino-resins in primary forms increased in 2021. Import volume reached 24.0 thousand tonnes, showing a significant 61.2% rise compared to the previous year. Over the 2018-2021 period, imports decreased by 27.7%, equating to an annualized decline rate of 10.2%. The lowest import volume was recorded in 2020 at 14.9 thousand tonnes, while the largest decline of 54.8% occurred in 2019.

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

From 2018 to 2021, Germany, the Netherlands, and China were the primary suppliers of amino-resins in primary forms to Hungary in kind. Germany accounted for 32.6% of imports, the Netherlands for 29.4%, and China for 27.9%. Together, these three countries represented 89.9% of total 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, M $ US

The data reveals irregular changes, indicating a volatile market environment. Import values hit their lowest point in 2020 and peaked in 2018, with a threefold difference between these years. In 2021, Hungary's imports of amino-resins in primary forms reached 59.6 million US dollars, showing a dramatic 163.5% increase compared to the previous year. The minimum value was recorded in 2020 at 22.6 million US dollars, while the largest decline of 62.6% occurred in 2019.

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

From 2018 to 2021, Germany, China, and the Netherlands consistently occupied leading positions in Hungary's import structure in value terms. Germany accounted for 35.5% of imports, China for 29.0%, and the Netherlands for 24.3%. Together, these three countries represented 88.9% of total 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