Market research

Formaldehyde market in Hungary

Release date: Mar 29, 2026

Submission: 15 minutes after payment

Research period: 2017-2025

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File format: docx, xlsx

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Earlier Report Observations

The formaldehyde market in Hungary, measured in volume, expanded significantly from 90 thousand tons in 2018 to 124 thousand tons in 2021, an increase of 38% over the four-year period. In value terms, the market grew from 18.1 million dollars to 22.5 million dollars, despite experiencing a dip in 2020.

Following the 2021 peak, market volume contracted to 119 thousand tons in 2022 and further to 96.9 thousand tons in 2023, marking a 22% decline from the high. A strong rebound occurred in 2024, with volume recovering to 122.7 thousand tons. Value exhibited sharper swings, with notable growth in 2021, 2022, and 2024, interrupted by declines in 2020 and 2023.

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 and Trends
1. 4.1. Key Market Indicators
  1. 4.1.1. In kind
    1. 4.1.1.1. Production, 2018-2024
    2. 4.1.1.2. Imports, 2018-2025
    3. 4.1.1.3. Exports, 2018-2025
    4. 4.1.1.4. Market size, 2018-2024
  2. 4.1.2. In value
    1. 4.1.2.1. Production, 2018-2024
    2. 4.1.2.2. Imports, 2018-2025
    3. 4.1.2.3. Exports, 2018-2025
    4. 4.1.2.4. Market size, 2018-2024
2. 4.2. Market Trends and Factors
5. Production
1. 5.1. Production in Hungary
  1. 5.1.1. In kind, 2018-2024, K t
  2. 5.1.2. In value, 2018-2024, K $ 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, K $ 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/t
    1. 6.1.4.1. Annual dynamics of average price of product's exports from Hungary, 2018-2025, $ US/t
    2. 6.1.4.2. Dynamics of average price of product's exports from Hungary by countries, 2018-2025, $ US/t
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/t
    1. 6.2.4.1. Annual dynamics of average price of product's exports from Hungary, 2018-2025, $ US/t
    2. 6.2.4.2. Dynamics of average price of product's exports from Hungary by countries, 2018-2025, $ US/t
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/t
    1. 7.1.4.1. Annual dynamics of average price of product's imports to Hungary, 2018-2025, $ US/t
    2. 7.1.4.2. Dynamics of average price of product's imports to Hungary by countries, 2018-2025, $ US/t
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/t
    1. 7.2.4.1. Annual dynamics of average price of product's imports to Hungary, 2018-2025, $ US/t
    2. 7.2.4.2. Dynamics of average price of product's imports to Hungary by countries, 2018-2025, $ US/t
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 formaldehyde in Hungary

In value, 2018-2021, K $ US

In Hungary, formaldehyde production reached a value of 27 916 thousand US dollars in 2021, marking a significant increase of 54.6% compared to the previous year. Over the period from 2018 to 2021, production grew by 46.3%, which translates to an average annual growth rate of 13.5%. The lowest value was recorded in 2020 at 18 054 thousand US dollars, with the largest decline occurring that same year at 12.0%.

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

Parameter		2019	2020	2021	CAGR
1	Change from last year	7.5%	(12.0%)	54.6%	13.5%

Source: SHEV.io

In kind, 2018-2021, K t

Formaldehyde production in Hungary has increased for the third consecutive year. In 2021, Hungary produced 140.9 thousand tonnes of formaldehyde, representing a 12.0% gain compared to 2020. From 2018 to 2021, production rose by 50.9%, with a compound annual growth rate of 14.7%.

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

Parameter		2019	2020	2021	CAGR
1	Change from last year	31.1%	2.8%	12.0%	14.7%

Source: SHEV.io

Exports formaldehyde from Hungary

Exports in kind, t

Hungary's formaldehyde exports have grown for the third year in a row. In 2021, exports totaled 16 976 tonnes, which is 90.5% higher than in 2020. Between 2018 and 2021, exports surged by 388.5%, equating to an annualized growth rate of 69.7%.

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

Parameter		2019	2020	2021	CAGR
1	Change from last year	148.9%	3.0%	90.5%	69.7%

Source: SHEV.io

From 2018 to 2021, the largest buyers of formaldehyde from Hungary in volume terms were Czechia, accounting for 51.9% of exports, Poland with 24.2%, and Romania at 9.7%. Together, these three countries represented 85.7% of Hungary's total formaldehyde exports by volume.

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

Market performance showed noticeable fluctuations during this period. Exports reached their lowest point in 2018 and peaked in 2021, with a 5.1-fold difference between these years. In 2021, Hungary exported formaldehyde worth 5 430 thousand US dollars, up by 183.4% compared to the previous year. The largest decline was recorded in 2020 at 1.3%.

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

Parameter		2019	2020	2021	CAGR
1	Change from last year	81.5%	(1.3%)	183.4%	71.8%

Source: SHEV.io

From 2018 to 2021, the key export partners for Hungary's formaldehyde in value terms were Czechia, representing 38.8% of exports, Poland at 31.6%, and Romania with 10.4%. Collectively, these three countries accounted for 80.8% of total export value.

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 formaldehyde to Hungary

Imports in kind, t

The data reveals irregular changes, indicating a volatile market environment. Imports reached their maximum in 2018 and fell to their lowest point in 2020, with a 44-fold gap between these years. In 2021, Hungary imported 100 tonnes of formaldehyde, marking a sharp increase of 3,358.6% compared to the previous year. The minimum value was recorded in 2020 at 3 tonnes, with the largest decline that year at 90.5%.

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

Parameter		2019	2020	2021	CAGR
1	Change from last year	(76.1%)	(90.5%)	3 358.6%	(7.9%)

Source: SHEV.io

From 2018 to 2021, Poland played a dominant role in Hungary's formaldehyde imports by volume, consistently accounting for 91.5% 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

Market performance exhibited noticeable fluctuations during this period. Imports hit their trough in 2019 and peaked in 2021, with a 2.3-fold difference. In 2021, Hungary's formaldehyde imports amounted to 53 thousand US dollars, up by 106.8% compared to 2020. The minimum value was recorded in 2019 at 23 thousand US dollars, with the largest decline that year at 47.5%.

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

Parameter		2019	2020	2021	CAGR
1	Change from last year	(47.5%)	12.1%	106.8%	6.8%

Source: SHEV.io

From 2018 to 2021, the key import partners for Hungary's formaldehyde in value terms were Poland, representing 42.0% of imports, Czechia at 37.5%, and Germany with 12.6%. Together, these three countries accounted for 92.1% of total import value.

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