Compounded unvulcanised rubber market in Hungary

Earlier Report Observations

The market for compounded unvulcanised rubber in Hungary contracted significantly in volume terms between 2018 and 2024, falling from 61,486 t to 36,424 t. This decline of approximately 40% was not uniform, with a sharp drop in 2019 followed by a partial recovery in 2021, after which volumes resumed a downward trajectory.

In value terms, the market also shrank overall, from $173.0 million to $127.5 million, but showed a temporary increase in 2022 and 2023 despite lower physical volumes. This suggests a period of higher unit prices or a shift in the product mix before a substantial correction in 2024.

The period was marked by volatility, with the most pronounced reduction occurring in the initial years. The subsequent fluctuations indicate an unstable supply-demand balance for this industrial material in the Hungarian market.

Production compounded unvulcanised rubber in Hungary

In value, 2018-2021, M $ US

Following a two-year decline, Hungary's production of compounded unvulcanised rubber rebounded in value terms. In 2021, output reached 81.8 million US dollars, marking a 31.0% year-on-year increase. However, over the broader period from 2018 to 2021, production fell by 22.7%, translating to an annualized decline of 8.2%. The lowest value was recorded in 2020 at 62.5 million US dollars, with the steepest drop occurring in 2019 at 27.9%.

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

In kind, 2018-2021, t

After two years of contraction, Hungary's production volume of compounded unvulcanised rubber saw an upturn. In 2021, the country produced 28 081 tonnes, representing a significant 23.7% rise compared to 2020. Looking at the 2018-2021 period overall, production decreased by 31.4%, which equates to an annualized rate of decline of 11.8%. The volume hit its lowest point in 2020 at 22 702 tonnes, while the largest decline was in 2019 at 29.7%.

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

Exports compounded unvulcanised rubber from Hungary

Exports in kind, t

Hungary's exports of compounded unvulcanised rubber recovered after a two-year downturn. In 2021, the country shipped 23 756 tonnes abroad, indicating a 24.1% increase from the previous year. Over the 2018-2021 span, exports declined by 10.4%, with a compound annual growth rate (CAGR) of -3.6%. The export volume reached its minimum in 2020 at 19 148 tonnes, and the sharpest fall also occurred that year at 22.2%.

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

From 2018 to 2021, Romania, Slovenia, and Poland were the primary destinations for Hungary's exports of compounded unvulcanised rubber in volume terms. Romania accounted for 26.5% of exports, Slovenia for 14.8%, and Poland for 8.8%. Together, these three countries represented 50.1% of total 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, M $ US

Hungary's export value of compounded unvulcanised rubber bounced back following a two-year decline. In 2021, exports amounted to 57.2 million US dollars, a 43.3% increase compared to 2020. Across the 2018-2021 period, export value decreased by 10.4%, with a compound annual growth rate (CAGR) of -3.6%. The lowest value was recorded in 2020 at 40.0 million US dollars, and the largest decline also took place that year at 26.1%.

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

Between 2018 and 2021, Romania, Slovenia, and Spain emerged as the key partners for Hungary's exports of compounded unvulcanised rubber in value terms. Romania held a 31.2% share of exports, Slovenia 19.9%, and Spain 9.9%. Collectively, these three countries accounted for 61.1% 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 compounded unvulcanised rubber to Hungary

Imports in kind, t

Hungary's imports of compounded unvulcanised rubber in volume terms rebounded after a two-year decrease. In 2021, imports totaled 44 737 tonnes, showing a substantial 18.5% rise from 2020. Over the 2018-2021 timeframe, imports fell by 5%, equivalent to an annualized decline of 1.7%. The import volume was at its lowest in 2020 at 37 751 tonnes, with the most significant drop also occurring that year at 14.7%.

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

During the 2018-2021 period, Poland, Germany, and Italy were the main sources for Hungary's imports of compounded unvulcanised rubber in volume terms. Poland contributed 23.3% of imports, Germany 21.9%, and Italy 19.1%. Together, these three countries made up 64.3% 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

Hungary's import value of compounded unvulcanised rubber recovered after a two-year decline. In 2021, imports reached 116.0 million US dollars, up by 23.4% compared to 2020. From 2018 to 2021, import value decreased by 11.4%, translating to an annualized rate of decline of 4.0%. The lowest value was in 2020 at 94.0 million US dollars, and the largest decline also happened that year at 16.8%.

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

From 2018 to 2021, Germany, Poland, and Italy remained the primary markets for Hungary's imports of compounded unvulcanised rubber in value terms. Germany accounted for 26.6% of imports, Poland for 21.6%, and Italy for 18.4%. Combined, these three countries represented 66.6% 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