Particle board of wood market in Hungary

Earlier Report Observations

The Hungarian particle board market opened the period at $45.1 million in 2018, supported by state subsidies and grants for the wood and furniture industry that promoted innovation and new product launches. After a decline to $40.2 million in 2019, the market recovered to $44.3 million in 2020 as increased focus on automation and digitalization in Central Europe, alongside state-funded R&D projects, enhanced production efficiency and encouraged new developments.

A downward trend followed, with the market falling to $41.8 million in 2021 and further to $39.3 million in 2022. This contraction coincided with a reduction in state advertising expenditures, which likely weakened market demand, and the introduction of new EU-based price indication rules that affected packaging and labeling, potentially raising operational costs for producers. Support for the transition to a sustainable and circular economy emerged but was insufficient to reverse the decline.

The market dropped sharply to $24.4 million in 2023 and edged slightly lower to $23.7 million in 2024. Despite new state acquisitions and retail developments, such as the construction of new shopping centers that could boost demand for particle board in fit-outs, and a record number of new trolleybuses in Europe potentially increasing demand for wooden components, the market remained subdued. The entry of new players in public transport and continued support for sustainable practices provided new avenues but did not offset the overall market contraction.

Production particle board of wood in Hungary

In value, 2018-2021, K $ US

After two consecutive years of decline, Hungary's particle board production value rebounded. In 2021, output reached 36 039 thousand US dollars, marking a significant 55.9% increase from the previous year. Over the 2018-2021 period, production grew by 20.5%, with a compound annual growth rate of 6.4%. The lowest value was recorded in 2020 at 23 110 thousand US dollars, following the largest decline of 12.2% in 2019.

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

In kind, 2018-2021, K m³

Top producers of particle board of wood, 2018-2021

World map of production of particle board of wood, 2018-2021

Hungary's particle board production volume declined for the third consecutive year. In 2021, output totaled 158.4 thousand cubic meters, representing a modest 8.0% decrease compared to the previous year. Over the 2018-2021 period, production fell by 17.8%, with a compound annual growth rate of -6.3%.

Annual dynamics of production in Hungary in kind, 2018-2021, K m³

Exports particle board of wood from Hungary

Exports in kind, K m³

Hungary's particle board export volume increased for the third consecutive year. In 2021, exports reached 402.5 thousand cubic meters, showing an 18.3% rise from the previous year. Between 2018 and 2021, exports grew by 55%, equating to a 15.7% annualized growth rate.

Annual dynamics of product's exports from Hungary in kind, 2018-2021, K m³

From 2018 to 2021, Italy (30.0% of export volume), Serbia (16.2%), and Austria (10.4%) were the principal destinations for Hungary's particle board exports, jointly accounting for 56.6% 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, K $ US

After two years of decline, Hungary's particle board export value increased. In 2021, exports totaled 82 658 thousand US dollars, reflecting a sharp 62.3% rise compared to 2020. Between 2018 and 2021, export value grew by 27.3%, with an annualized rate of 8.4%. The lowest value was recorded in 2020 at 50 919 thousand US dollars, following the largest decline of 19.9% in 2019.

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

From 2018 to 2021, Italy (29.5% of export value), Poland (11.9%), and Austria (10.7%) consistently remained the main destinations for Hungary's particle board exports by value, together accounting for 52.1% 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 particle board of wood to Hungary

Imports in kind, K m³

After two years of growth, Hungary's particle board import volume declined. In 2021, imports reached 298.7 thousand cubic meters, reflecting a 7.6% decrease year-over-year. Over the 2018-2021 period, imports fell by 3.4%, with a compound annual growth rate of -1.1%. The highest volume was recorded in 2020 at 323.4 thousand cubic meters, following the largest increase of 2.8% in 2019.

Annual dynamics of product's imports to Hungary in kind, 2018-2021, K m³

From 2018 to 2021, Romania (24.5% of import volume), Austria (20.2%), and Ukraine (11.8%) continued to be the main suppliers of particle board to Hungary, jointly forming 56.4% 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, K $ US

Hungary's particle board import value increased for the second consecutive year. In 2021, imports amounted to 88 399 thousand US dollars, reflecting a strong 22.6% uptick compared to the previous year. Over the 2018-2021 period, import value grew by 10.3%, with a compound annual growth rate of 3.3%. The lowest value was recorded in 2019 at 65 995 thousand US dollars, which also saw the largest decline of 17.6% that year.

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

Throughout 2018-2021, Austria (31.1% of import value), Romania (20.6%), and Slovakia (9.8%) formed the core group of markets for Hungary's particle board imports by value, together representing 61.5% of total import flows.

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

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