Ketones, quinones and their derivatives market in Hungary

Earlier Report Observations

The Hungarian market for ketones and quinones grew from 2018 to 2020, aligned with broader European expansion where production increased by 13-14% in 2018. This was reinforced by a 21% surge in European imports in 2020, which boosted trade activity. In Hungary, import volumes rose from 7 629 t in 2018 to 9 677 t in 2020, supporting market growth.

European consumption and import volumes reached a peak in 2021 before entering a decline from 2022, a trend reflected in Hungary. The country's import volumes fell from 9 026 t in 2021 to 5 512 t in 2023, and the total market size in volume terms dropped to 5 782 t by 2023. The market could not regain its earlier momentum, leading to a period of lower activity.

A modest recovery began in 2024 as European consumption of ketones and quinones increased slightly after two years of decline. In Hungary, the market volume rose to 6 245 t in 2024, although domestic production remained at a low level of 222 t. This partial revival coincided with growth in related segments, such as ether-phenols, whose EU market value expanded by 14% in 2024.

Production ketones, quinones and their derivatives in Hungary

In value, 2018-2021, K $ US

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

In kind, 2018-2021, t

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

Exports ketones, quinones and their derivatives from Hungary

Exports in kind, t

Market performance showed noticeable fluctuations during this period. Exports reached their lowest point in 2019 and peaked in 2020, with a 2.9-fold difference between these years. In 2021, Hungary exported 205 tons of ketones, quinones and their derivatives, representing a 54.6% decrease from 2020. The minimum volume was recorded in 2019 at 157 tons, while the maximum was in 2020 at 451 tons. The largest increase occurred in 2020, with exports growing by 187.6%.

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

Between 2018 and 2021, Romania and Slovakia together accounted for 80.6% of total exports in kind. Other countries formed a diversified but less significant portion of the export market.

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, K $ US

Hungary's exports of ketones, quinones and their derivatives increased for the third consecutive year. In 2021, exports reached 2 691 thousand US dollars, showing a gradual 3.1% rise compared to the previous year. From 2018 to 2021, exports grew by 395.9%, which translates to an annualized growth rate of 70.5%.

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

The export market in value terms was broad from 2018 to 2021. Italy accounted for 15.9% of exports, Belgium for 15.8%, and Romania for 10.2%, with these three countries together representing 42.0% of total flows. The remaining 58.0% was distributed among numerous other countries.

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

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

Imports ketones, quinones and their derivatives to Hungary

Imports in kind, t

After two years of growth, Hungary's imports of ketones, quinones and their derivatives declined. In 2021, import volume stood at 9 026 tons, marking a 6.7% decrease from 2020. Over the 2018-2021 period, imports increased by 18.3%, with a compound annual growth rate of 5.8%. The maximum volume was recorded in 2020 at 9 677 tons, while the largest increase occurred in 2019 at 18.9%.

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

From 2018 to 2021, Germany and Poland were the primary sources for Hungary's imports in kind, together accounting for 81.4% of total flows. Other markets contributed to a smaller, more varied portion of imports.

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, K $ US

Hungary's imports of ketones, quinones and their derivatives increased for the second consecutive year. In 2021, imports amounted to 22 063 thousand US dollars, reflecting an 11.0% rise compared to 2020. Over the 2018-2021 period, imports grew by 54.7%, with a compound annual growth rate of 15.6%. The minimum value was recorded in 2019 at 12 814 thousand US dollars, which also saw the largest decline of 10.2%. The largest increase occurred in 2020, with imports surging by 55.1%.

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

Between 2018 and 2021, Germany, China, and Poland were the three largest markets for Hungary's imports in value terms, together accounting for 66.9% of total flows.

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

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