Rubber gaskets, washers and seals market in Hungary

Earlier Report Observations

The Hungarian market for rubber gaskets, washers and seals demonstrated a clear upward trajectory from 2018 to 2023, with its physical volume expanding from 45 185 t to a peak of 73 431 t. This growth was punctuated by only minor corrections in 2020 and 2022, while 2019 and 2023 saw the most significant annual increases. In value terms, the market followed a similar pattern, rising from 125.5 million USD to 179.7 million USD over the same six-year period.

Market volume contracted sharply in 2024, falling to 36 994 t, with the market value also declining to 149.2 million USD. Underlying these fluctuations, a broader shift in demand patterns toward more durable, chemical-resistant, and high-performance vulcanised rubber products, particularly within the automotive and industrial machinery sectors, characterized the market's evolution throughout the observed years.

Production rubber gaskets, washers and seals in Hungary

In value, 2018-2021, K $ US

Hungary's production of rubber gaskets, washers, and seals rebounded after a two-year decline. In 2021, output reached 72 325 thousand US dollars, marking a 9.6% increase from 2020. Over the period from 2018 to 2021, production fell by 9%, translating to an annualized decline of 3.1%. The lowest point was in 2020, with a value of 66 008 thousand US dollars, which also saw the steepest drop of 11.2%.

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

In kind, 2018-2021, t

In 2021, Hungary produced 50 360 tonnes of rubber gaskets, washers, and seals, representing a 13.6% rise from the previous year. From 2018 to 2021, production grew by 27.4%, with a compound annual growth rate of 8.4%. The largest decrease occurred in 2020, at 1.3%, while the biggest increase was in 2019, at 13.7%.

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

Exports rubber gaskets, washers and seals from Hungary

Exports in kind, t

After two years of growth, Hungary's exports of rubber gaskets, washers, and seals in volume terms declined. In 2021, exports totaled 11 844 tonnes, showing a slight decrease of 1.0% compared to 2020. Over the 2018-2021 period, exports increased by 7.7%, with a compound annual growth rate of 2.5%. The peak was in 2020, at 11 969 tonnes, which also recorded the largest increase of 8.4%.

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

From 2018 to 2021, Turkey, Austria, and Germany were the primary destinations for Hungary's exports of rubber gaskets, washers, and seals in volume terms. Turkey accounted for 32.4% of exports, Austria for 28.4%, and Germany for 16.3%, together making up 77.1% of total 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 exports of rubber gaskets, washers, and seals in value terms recovered after a two-year decline. In 2021, exports amounted to 140.8 million US dollars, a significant 30.1% year-on-year increase. Between 2018 and 2021, exports rose by 10.3%, equivalent to an annualized growth rate of 3.3%. The lowest value was in 2020, at 108.2 million US dollars, which also saw the largest decline of 10.9%.

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

From 2018 to 2021, Germany, Turkey, and Austria consistently led as the top destinations for Hungary's exports of rubber gaskets, washers, and seals in value terms. Germany held 27.2% of exports, Turkey 21.5%, and Austria 18.0%, collectively accounting for 66.7% of total 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 rubber gaskets, washers and seals to Hungary

Imports in kind, t

The market exhibited volatility during the observed period. Imports peaked in 2020 and reached their lowest point in 2018, with a 1.8-fold difference between these years. In 2021, Hungary's imports of rubber gaskets, washers, and seals totaled 29 688 tonnes, a 3.1% decrease from 2020. The highest volume was in 2020, at 30 630 tonnes, while the largest increase occurred in 2019, at 81.4%.

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

From 2018 to 2021, Slovakia, Germany, and Czechia formed the main cluster for Hungary's imports of rubber gaskets, washers, and seals in volume terms. Slovakia accounted for 30.8% of imports, Germany for 20.8%, and Czechia for 11.3%, together representing 63.0% of total flows.

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

In 2021, Hungary's imports of rubber gaskets, washers, and seals in value terms reached 204.7 million US dollars, a 15.4% increase from the previous year. Over the 2018-2021 period, imports grew by 17.9%, with a compound annual growth rate of 5.6%. The largest decline was recorded in 2020, at 5.7%.

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

From 2018 to 2021, Germany, Czechia, and Italy were the principal destinations for Hungary's imports of rubber gaskets, washers, and seals in value terms. Germany accounted for 30.4% of imports, Czechia for 11.4%, and Italy for 8.9%, jointly making up 50.6% 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