Market research

Ethylene market in Hungary

Release date: Mar 29, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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Earlier Report Observations

From 2018 to 2020, the Hungarian ethylene market was influenced by global oil and gas market conditions. A pre-COVID oversupply of oil and gas put downward pressure on ethylene glycol prices in 2018, which encouraged ethylene production to rise to 146.8 thousand tonnes in 2019, with local player Vettó Kft. preparing for the shifting market. However, the economic shutdown in spring 2020 caused a global oil and gas surplus, leading to sharp price drops for ethylene derivatives. This reduced investment in the oil and gas sector and contracted the ethylene market to 142.7 thousand tonnes in 2020.

In 2021, historic record prices for ethylene glycol and propylene glycol marked the start of a raw material supercycle. This price surge, linked to reduced fossil fuel extraction and CO2 emission mitigation efforts, drove a significant increase in the market value of ethylene to 174.8 million USD in 2022, despite a drop in physical volume to 112.3 thousand tonnes.

After 2022, the Hungarian ethylene market began to recover. Volume grew to 115.5 thousand tonnes in 2023 and reached 126.0 thousand tonnes in 2024, approaching pre-2020 levels. Market value stabilized at 155.7 million USD in 2024.

Table of content

1. Disclaimer
2. Terms of use of the report
3. Product codes in the statistical classifications used in the report
4. Key Market Indicators
1. 4.1. In kind
  1. 4.1.1. Production, 2018-2020, 2022-2024
  2. 4.1.2. Imports, 2018-2025
  3. 4.1.3. Exports, 2018-2025
  4. 4.1.4. Market size, 2018-2020, 2022-2024
2. 4.2. In value
  1. 4.2.1. Production, 2018-2020, 2022-2024
  2. 4.2.2. Imports, 2018-2025
  3. 4.2.3. Exports, 2018-2025
  4. 4.2.4. Market size, 2018-2020, 2022-2024
5. Production
1. 5.1. Production in Hungary
  1. 5.1.1. In kind, 2018-2020, 2022-2024, K t
  2. 5.1.2. In value, 2018-2020, 2022-2024, M $ US
2. 5.2. Production in the EU, 2018-2024
  1. 5.2.1. In kind, 2018-2024, K t
  2. 5.2.2. In value, 2018-2024, M $ US
6. Exports
1. 6.1. Exports (Direct Data)
  1. 6.1.1. Exports - Total information
  2. 6.1.2. Exports in kind, t
    1. 6.1.2.1. Annual dynamics of product's exports from Hungary in kind, 2018-2025, t
    2. 6.1.2.2. Dynamics of product's exports in kind from Hungary by countries, 2018-2025, t
    3. 6.1.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 6.1.3. Exports in value, K $ US
    1. 6.1.3.1. Annual dynamics of product's exports from Hungary in value, 2018-2025, K $ US
    2. 6.1.3.2. Dynamics of product's exports in value from Hungary by countries, 2018-2025, K $ US
    3. 6.1.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 6.1.4. Average price of product's exports, $ US/kg
    1. 6.1.4.1. Annual dynamics of average price of product's exports from Hungary, 2018-2025, $ US/kg
    2. 6.1.4.2. Dynamics of average price of product's exports from Hungary by countries, 2018-2025, $ US/kg
2. 6.2. Exports (Mirror Data)
  1. 6.2.1. Exports - Total information
  2. 6.2.2. Exports in kind, t
    1. 6.2.2.1. Annual dynamics of product's exports from Hungary in kind, 2018-2025, t
    2. 6.2.2.2. Dynamics of product's exports in kind from Hungary by countries, 2018-2025, t
    3. 6.2.2.3. Structure of product's exports in kind by countries, 2018-2025
  3. 6.2.3. Exports in value, K $ US
    1. 6.2.3.1. Annual dynamics of product's exports from Hungary in value, 2018-2025, K $ US
    2. 6.2.3.2. Dynamics of product's exports in value from Hungary by countries, 2018-2025, K $ US
    3. 6.2.3.3. Structure of product's exports in value by countries, 2018-2025
  4. 6.2.4. Average price of product's exports, $ US/kg
    1. 6.2.4.1. Annual dynamics of average price of product's exports from Hungary, 2018-2025, $ US/kg
    2. 6.2.4.2. Dynamics of average price of product's exports from Hungary by countries, 2018-2025, $ US/kg
7. Imports
1. 7.1. Imports (Direct Data)
  1. 7.1.1. Imports - Total information
  2. 7.1.2. Imports in kind, t
    1. 7.1.2.1. Annual dynamics of product's imports to Hungary in kind, 2018-2025, t
    2. 7.1.2.2. Dynamics of product's imports in kind to Hungary by countries, 2018-2025, t
    3. 7.1.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 7.1.3. Imports in value, K $ US
    1. 7.1.3.1. Annual dynamics of product's imports to Hungary in value, 2018-2025, K $ US
    2. 7.1.3.2. Dynamics of product's imports in value to Hungary by countries, 2018-2025, K $ US
    3. 7.1.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 7.1.4. Average price of product's imports, $ US/kg
    1. 7.1.4.1. Annual dynamics of average price of product's imports to Hungary, 2018-2025, $ US/kg
    2. 7.1.4.2. Dynamics of average price of product's imports to Hungary by countries, 2018-2025, $ US/kg
2. 7.2. Imports (Mirror Data)
  1. 7.2.1. Imports - Total information
  2. 7.2.2. Imports in kind, t
    1. 7.2.2.1. Annual dynamics of product's imports to Hungary in kind, 2018-2025, t
    2. 7.2.2.2. Dynamics of product's imports in kind to Hungary by countries, 2018-2025, t
    3. 7.2.2.3. Structure of product's imports in kind by countries, 2018-2025
  3. 7.2.3. Imports in value, K $ US
    1. 7.2.3.1. Annual dynamics of product's imports to Hungary in value, 2018-2025, K $ US
    2. 7.2.3.2. Dynamics of product's imports in value to Hungary by countries, 2018-2025, K $ US
    3. 7.2.3.3. Structure of product's imports in value by countries, 2018-2025
  4. 7.2.4. Average price of product's imports, $ US/kg
    1. 7.2.4.1. Annual dynamics of average price of product's imports to Hungary, 2018-2025, $ US/kg
    2. 7.2.4.2. Dynamics of average price of product's imports to Hungary by countries, 2018-2025, $ US/kg
8. Trade balance
1. 8.1. Trade balance (Direct Data)
  1. 8.1.1. In kind, t
  2. 8.1.2. In value, K $ US
2. 8.2. Trade balance (Mirror Data)
  1. 8.2.1. In kind, t
  2. 8.2.2. In value, K $ US
9. Top buying and selling countries, 2018-2025
1. 9.1. Direct Data
  1. 9.1.1. Import in Value by Countries-buyers
  2. 9.1.2. Export in Value by Countries-suppliers
2. 9.2. Mirror Data
  1. 9.2.1. Import in Value by Countries-buyers
  2. 9.2.2. Export in Value by Countries-suppliers

Production ethylene in Hungary

In value, 2018-2021, M $ US

Ethylene production in Hungary declined for the second consecutive year. In 2020, output was valued at 131.9 million US dollars, marking a 17.5% decrease from the previous year. Between 2018 and 2020, production fell by 23%, which translates to an annualized decline rate of 8.3%.

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

Parameter		2019	2020	2021	CAGR
1	Change from last year	(6.6%)	(17.5%)	n/a	-

Source: SHEV.io

In kind, 2018-2021, K t

In 2020, Hungary produced 142.7 thousand tonnes of ethylene, showing a 2.8% year-on-year drop. Over the 2018-2020 period, production increased by 4.2%, with a compound annual growth rate of 1.4%. The highest production volume was recorded in 2019 at 146.8 thousand tonnes, which also saw the largest increase of 7.1%.

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

Parameter		2019	2020	2021	CAGR
1	Change from last year	7.1%	(2.8%)	n/a	-

Source: SHEV.io

Exports ethylene from Hungary

Exports in kind, t

The market showed significant fluctuations during this period. Exports reached their lowest point in 2018 and peaked in 2019, with a 20 134-fold difference between these years. In 2021, Hungary's ethylene export volume totaled 1 979 tonnes, representing an increase of 511 183.2% from 2020. The maximum value was recorded in 2019 at 3 825 tonnes, which also saw the largest increase of 20 134 036.8%. The largest decline occurred in 2020, with a 100.0% drop.

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

Parameter		2019	2020	2021	CAGR
1	Change from last year	20 134 036.8%	(100.0%)	511 183.2%	4 604.8%

Source: SHEV.io

From 2018 to 2021, Ukraine accounted for almost all of Hungary's ethylene exports in volume, with a share of 100.0% of total flows.

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

Source: SHEV.io

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

Source: SHEV.io

Exports in value, K $ US

The market exhibited considerable volatility during these years. Export values dropped to their minimum in 2018 and climbed to their maximum in 2019, showing a 10 146-fold shift. In 2021, Hungary exported ethylene worth 1 509 thousand US dollars, which is 7 853.8% higher than the previous year. The maximum value was recorded in 2019 at 4 109 thousand US dollars, which also saw the largest increase of 1 014 530.9%. The largest decline occurred in 2020, with a 99.5% decrease.

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

Parameter		2019	2020	2021	CAGR
1	Change from last year	1 014 530.9%	(99.5%)	7 853.8%	1 450.3%

Source: SHEV.io

Throughout 2018-2021, Ukraine remained the nearly exclusive buyer of Hungarian ethylene in value terms, accounting for 99.5% of total exports.

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

Source: SHEV.io

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

Source: SHEV.io

Imports ethylene to Hungary

Imports in kind, t

The market displayed an unstable trend throughout the timeframe. Imports reached their minimum in 2020 and peaked in 2019, with a 3 153-fold variation between these years. In 2021, ethylene shipments to Hungary from abroad totaled 5 tonnes, reflecting a dramatic gain of 127.2% from the previous year. The minimum value was recorded in 2020 at 2 tonnes, while the maximum was in 2019 at 6 523 tonnes. The largest decline occurred in 2020 with a 100.0% drop, and the largest increase was in 2019 at 180 119.6%.

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

Parameter		2019	2020	2021	CAGR
1	Change from last year	180 119.6%	(100.0%)	127.2%	9.1%

Source: SHEV.io

From 2018 to 2021, Ukraine and Slovakia were the primary sources for Hungary's ethylene imports in volume, with their combined share reaching 99.8% of total flows.

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

Source: SHEV.io

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

Source: SHEV.io

Imports in value, K $ US

Volatility characterized the market behavior during these years. Import values dropped to their minimum in 2020 and peaked in 2019, with an 800-fold difference. In 2021, Hungary imported ethylene worth approximately 18 thousand US dollars, up by 54.5% from the previous year. The minimum value was recorded in 2020 at 12 thousand US dollars, while the maximum was in 2019 at 9 536 thousand US dollars. The largest decline occurred in 2020 with a 99.9% decrease, and the largest increase was in 2019 at 50 936.7%.

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

Parameter		2019	2020	2021	CAGR
1	Change from last year	50 936.7%	(99.9%)	54.5%	(0.5%)

Source: SHEV.io

In 2018-2021, the partner structure for Hungary's ethylene imports in value terms relied mainly on Ukraine and Slovakia, which together accounted for 99.4% of total flows.

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

Source: SHEV.io

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

Source: SHEV.io