Moulds for rubber or plastics market in Hungary

Earlier Report Observations

After reaching 189.8 million US dollars in 2018, supported by strong plastic processing activity and domestic production of raw materials like LDPE, HDPE, and PP granules, the market for moulds for rubber or plastics in Hungary contracted to 156.7 million US dollars in 2019. This decline coincided with stagnation in PVC production and mixed performance among different types of commercial raw materials.

The market recovered to 174.4 million US dollars in 2020 and continued to grow in 2021, peaking at 195.5 million US dollars. The primary driver in 2021 was increased demand for tires in the corporate segment due to the boom in delivery services, which raised the need for moulds used in tire manufacturing.

In 2022, however, the market size fell sharply to 159.9 million US dollars. This drop occurred alongside substantial price increases for tires and tire services, as all tire manufacturers raised prices, and consumers began using tires about 20% longer, postponing replacements. Additionally, raw material shortages in construction and stricter environmental regulations for packaging materials indirectly pressured the plastics and rubber industries. Factors reported for 2023 indicated a continued decline in tire demand across all segments, suggesting persistent challenges for the moulds market.

Production moulds for rubber or plastics in Hungary

In value, 2018-2021, K $ US

In 2019, Hungary's output of moulds for rubber or plastics reached its lowest point at 81 059 K $ US. The following year, in 2020, production peaked at 90 592 K $ US, marking an 11.8% increase. By 2021, output remained relatively stable at 90 308 K $ US, showing minimal change compared to 2020.

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

Exports moulds for rubber or plastics from Hungary

Exports in kind, t

Hungary's export volume of moulds for rubber or plastics has declined for two consecutive years. In 2019, exports hit a high of 3 240 t, reflecting a 4.2% increase from the previous year. By 2021, exports dropped to 2 628 t, a 15.2% decrease compared to 2020. Overall, from 2018 to 2021, exports fell by 15.5%, averaging an annual decline of 5.5%.

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

From 2018 to 2021, Germany, Austria, and Russia were consistently the top destinations for Hungary's exports of moulds for rubber or plastics in volume terms. Germany accounted for 51.5% of exports, Austria for 7.5%, and Russia for 6.8%, together making up 65.8% 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 moulds for rubber or plastics has decreased for three years in a row. In 2021, exports amounted to 54.4 M $ US, down 6.8% from the previous year. Over the period from 2018 to 2021, exports declined by 22.4%, with an average annual decrease of 8.1%.

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

Between 2018 and 2021, Hungary's export value of moulds for rubber or plastics was widely distributed across partner countries. Germany led with 28.1% of exports, followed by China at 8.6% and Mexico at 6.9%. Together, these three countries represented 43.6% of total export value.

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

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

Imports moulds for rubber or plastics to Hungary

Imports in kind, t

Hungary's import volume of moulds for rubber or plastics has increased for two consecutive years. In 2019, imports were at their lowest at 4 265 t, a sharp 27.4% decline from the previous year. The following year, in 2020, imports rose by 15.1%. By 2021, imports reached 5 273 t, up 7.4% from 2020. Overall, from 2018 to 2021, imports decreased by 10.2%, averaging an annual decline of 3.5%.

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

From 2018 to 2021, South Korea, China, and Germany were the main suppliers of moulds for rubber or plastics to Hungary in volume terms. South Korea accounted for 29.0% of imports, China for 22.1%, and Germany for 16.5%, together comprising 67.6% of total import volume.

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

After two years of decline, Hungary's import value of moulds for rubber or plastics rebounded in 2021. In 2020, imports hit a low of 142.2 M $ US, following a 15.6% drop in 2019. By 2021, imports showed a strong increase of 12.3% compared to the previous year. Over the period from 2018 to 2021, imports decreased by 6.1%, with an average annual decline of 2.1%.

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

Throughout 2018 to 2021, China, South Korea, and Germany were the key markets for Hungary's imports of moulds for rubber or plastics in value terms. China accounted for 24.7% of imports, South Korea for 22.2%, and Germany for 14.9%, together representing 61.8% of total import value.

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

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