Cyclic hydrocarbons market in Hungary

Earlier Report Observations

Production of cyclic hydrocarbons in Hungary fluctuated between 2018 and 2023, peaking at 452 000 tons in 2021 after a drop to 413 000 tons in 2019, then declining to 342 000 tons by 2023. Market volume followed a similar trajectory, falling from 438 000 tons in 2018 to 377 000 tons in 2023. In value terms, the market grew from $332 million in 2018 to $412 million in 2023, driven by higher prices. During the early years, initiatives like the ExxonMobil and MOL partnership in the Makó Trough aimed to slow production decline and enhance domestic gas utilization, which could support hydrocarbon output.

The regulatory environment evolved significantly by 2025, with a major update to the EU's CLP Regulation imposing new classification, labeling, and packaging requirements for chemical substances. Simultaneously, the Hungarian Hydrocarbon Storage Association adopted stricter rules, including mandatory property insurance for depositors and prohibitions on market disruption. These changes occurred within the framework of the EU Emissions Trading System, where the market stability reserve mechanism allows supply to adjust to demand shifts.

Production cyclic hydrocarbons in Hungary

In value, 2018-2021, M $ US

In 2021, Hungary's output of cyclic hydrocarbons was valued at 295.0 million US dollars, representing a 16.6% decrease compared to the previous year. Over the period from 2018 to 2021, production grew by 9.9%, with a compound annual growth rate of 3.2%.

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

In kind, 2018-2021, K t

In 2021, Hungary produced 452.4 thousand tonnes of cyclic hydrocarbons, showing a year-on-year decline of 4.5%. Between 2018 and 2021, production increased by 4.6%, which translates to an annualized growth rate of 1.5%.

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

Exports cyclic hydrocarbons from Hungary

Exports in kind, K t

Hungary's export volume of cyclic hydrocarbons grew for the second consecutive year. In 2021, exports reached 173.1 thousand tonnes, reflecting a modest increase of 1.2% compared to 2020. Over the period from 2018 to 2021, exports rose by 9.7%, with an annualized rate of 3.1%. The lowest export volume was recorded in 2019 at 144.4 thousand tonnes, which saw the largest decline of 8.5%. In contrast, the largest increase occurred in 2020, with exports surging by 18.4%.

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

From 2018 to 2021, Germany, Italy, and France were the primary markets for Hungary's cyclic hydrocarbons exports in kind. Germany accounted for 40.1% of exports, Italy for 18.2%, and France for 15.8%, collectively representing 74.2% 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

The market displayed an unstable trend throughout the period. Exports in value terms reached their lowest point in 2020 and peaked in 2021, with a two-fold difference between these years. In 2021, Hungary exported 169.1 million US dollars worth of cyclic hydrocarbons, marking a sharp increase of 103.9% compared to 2020. The minimum value was recorded in 2020 at 82.9 million US dollars, while the largest decline occurred in 2019, with a drop of 21.7%.

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

Between 2018 and 2021, Germany, Italy, and France were the main destinations for Hungary's cyclic hydrocarbons exports in value terms. Germany held a 38.8% share, Italy 20.4%, and France 15.3%, together accounting for 74.5% 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 cyclic hydrocarbons to Hungary

Imports in kind, K t

After a two-year decline, Hungary's imports of cyclic hydrocarbons increased. In 2021, imports totaled 149.2 thousand tonnes, indicating a slight rise of 3.0% compared to 2020. Over the period from 2018 to 2021, imports decreased by 8.5%, with an annualized decline rate of 2.9%. The lowest import volume was recorded in 2020 at 144.9 thousand tonnes, and the largest decline occurred in 2019, with a drop of 7.7%.

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

Throughout 2018 to 2021, Italy, Germany, and Poland formed the key group of partners for Hungary's cyclic hydrocarbons imports in kind. Italy accounted for 65.7% of imports, Germany for 9.2%, and Poland for 5.4%, jointly representing 80.2% 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. Imports in value terms reached their lowest point in 2020 and peaked in 2018, with a peak-to-trough ratio of 1.8 times. In 2021, Hungary's imports of cyclic hydrocarbons amounted to 192.5 million US dollars, up by 71.1% year-on-year. The minimum value was recorded in 2020 at 112.5 million US dollars, while the largest decline occurred in 2019, with a decrease of 27.7%.

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

From 2018 to 2021, Italy was the dominant supplier of cyclic hydrocarbons to Hungary in value terms, accounting for 75.0% of total imports, with other countries sharing the remaining volume.

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

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