Silicones in primary forms market in Hungary

Earlier Report Observations

The Hungarian silicones market began the period with mixed trends in 2019 and 2020, as market volume in kind declined slightly from 6 664 t to 6 435 t while market value increased from 32.7 million USD to 34.2 million USD. This phase was influenced by the strategic role of state-owned companies in the economy, which affected market conditions, followed by privatization processes that altered the supplier and customer landscape for silicone products.

By 2023, the market expanded significantly, reaching 8 791 t in volume and 49.3 million USD in value, supported by a rise in domestic production to 3 412 t and growing imports. The broader application of silicones in industrial, food, and medical sectors contributed to this growth. However, 2024 saw a contraction in volume to 6 862 t, though market value remained stable at 49.8 million USD.

Recent developments include Hungary's competitiveness strategy for 2024-2030, providing state subsidies for green and digital transitions that affect industrial production. Furthermore, the entry of a new major player, Vulcan Shield Global, with a state-supported manufacturing plant in Békéscsaba, is set to boost local capacity, while the implementation of EU Regulation 2025/40 introduces new packaging and environmental rules for silicone products.

Production silicones in primary forms in Hungary

In value, 2018-2021, K $ US

In 2020, Hungary's output of silicones in primary forms was valued at 5 184 K $ US, showing only marginal fluctuations compared to 2019.

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

In kind, 2018-2021, t

In 2020, Hungary produced 2 619 t of silicones in primary forms, marking a slight year-over-year increase of 2.5%.

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

Exports silicones in primary forms from Hungary

Exports in kind, t

Hungary's cross-border shipments of silicones in primary forms increased for the third consecutive year. In 2021, exports reached 2 124 t, reflecting a significant advance of 49.4% compared to 2020. Over the period from 2018 to 2021, exports grew by 187.3%, with a compound annual growth rate (CAGR) of 42.2%.

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

From 2018 to 2021, Spain (17.2% of exports in kind), Italy (12.8% of exports in kind), and Germany (11.0% of exports in kind) were the largest buyers of silicones in primary forms from Hungary. However, their combined contribution was limited to 41.0% of total exports in kind, indicating a diversified country structure.

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

The market exhibited an unstable trend throughout the timeframe. The lowest export volume was recorded in 2020 at 4 748 K $ US, while the highest occurred in 2021 at 9 305 K $ US, resulting in a peak-to-trough ratio of 2 times. In 2021, Hungary's silicones in primary forms export volume totaled 9 305 K $ US, reflecting a dramatic gain of 96.0% compared to 2020. The largest decline was recorded in 2020 at 20.5%.

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

From 2018 to 2021, the portfolio of buyers for silicones in primary forms from Hungary was broad. Spain (15.9% of exports in value terms), Italy (10.1% of exports in value terms), and Germany (9.3% of exports in value terms) together contributed only 35.2% of total exports in value terms, while many other countries held smaller but non-negligible shares.

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

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

Imports silicones in primary forms to Hungary

Imports in kind, t

Hungary's silicones in primary forms import volume increased for the second consecutive year. In 2021, Hungary imported a total of 6 387 t, corresponding to a robust year-over-year increase of 21.9%. The minimum value was recorded in 2019 at 5 148 t, with the largest decline that year at 22.9%. Between 2018 and 2021, imports decreased by 4.3%, equating to an annualized rate of 1.5%.

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

From 2018 to 2021, Germany (47.6% of imports in kind), China (17.4% of imports in kind), and Belgium (6.8% of imports in kind) formed the main group of sources for imports in kind of silicones in primary forms to Hungary, with a combined share of 71.8% 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, K $ US

Hungary's cross-border shipments of silicones in primary forms increased for the second consecutive year. In 2021, Hungary imported 46 412 K $ US, representing a 37.5% uptick compared to 2020. The minimum value was recorded in 2019 at 33 514 K $ US, with the largest decline that year at 6.9%. Over the period from 2018 to 2021, imports increased by 29%, with a compound annual growth rate (CAGR) of 8.9%.

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

From 2018 to 2021, Germany (50.6% of imports in value terms), Belgium (10.0% of imports in value terms), and the Netherlands (9.4% of imports in value terms) remained the leading destinations in the country structure of imports in value terms, with a combined share of 70.0% 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