Urea and thiourea resins market in Hungary

Earlier Report Observations

The Hungarian market for urea and thiourea resins contracted between 2018 and 2020, with volume shrinking from 48 321 tons to 36 780 tons. During this period, domestic production increased from 15 097 tons to 25 364 tons, but a sharp fall in imports and a rise in exports reduced the total volume available locally.

Imports rebounded in 2021, growing by 22% to 38 936 tons, reflecting a broader European trend of rising demand and import activity for these resins. By 2023, Hungary had established itself as a notable player in the EU amino resins market, shipping 210 000 tons of amino resins, which includes urea and thiourea resins.

In 2024, Hungary's import volume reached 43 605 tons, though it remained a smaller importer compared to major European countries. The European market, including Hungary, showed flat consumption and a slight production increase after previous declines, influenced by supply chain stabilization and steady demand trends.

Production urea and thiourea resins in Hungary

In value, 2018-2021, K $ US

Hungary's production of urea and thiourea resins has increased for the second year in a row. In 2020, the output was valued at 11 764 thousand US dollars, representing a significant year-over-year growth of 49.2%. Over the three-year period from 2018 to 2020, production rose by 55.2%, with an average annual growth rate of 15.8%.

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

In kind, 2018-2021, t

Production of urea and thiourea resins in Hungary has grown for the second consecutive year. In 2020, Hungary produced 25 364 tonnes of these resins, marking a substantial increase of 57.7% compared to the previous year. From 2018 to 2020, production expanded by 68%, with a compound annual growth rate of 18.9%.

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

Exports urea and thiourea resins from Hungary

Exports in kind, t

Hungary's exports of urea and thiourea resins have increased for the third year in a row. In 2021, the country exported 24 373 tonnes, which is 18.5% more than in 2020. Over the period from 2018 to 2021, exports surged by 153.2%, with an average annual growth rate of 36.3%.

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

From 2018 to 2021, the main buyers of urea and thiourea resins from Hungary were Romania, accounting for 63.3% of exports in volume, Bosnia and Herzegovina with 12.9%, and Poland at 5.9%. Together, these three countries made up 82.2% of Hungary's total exports in this category.

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

Exports of urea and thiourea resins from Hungary have risen for the third consecutive year. In 2021, Hungary exported 14 610 thousand US dollars worth of these resins, showing a sharp increase of 70.3% compared to the previous year. Over the period from 2018 to 2021, exports grew by 207.2%, with a compound annual growth rate of 45.4%.

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

Between 2018 and 2021, Romania was the largest market for Hungary's urea and thiourea resin exports in value terms, representing 59.7% of the total. Bosnia and Herzegovina followed with 12.6%, and Poland accounted for 6.9%. Combined, these three countries comprised 79.2% of Hungary's total export value in this sector.

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

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

Imports urea and thiourea resins to Hungary

Imports in kind, t

After a two-year decline, Hungary's imports of urea and thiourea resins increased in 2021. The country imported 38 936 tonnes, a strong year-over-year rise of 21.8%. However, over the period from 2018 to 2021, imports decreased by 9.1%, with an average annual decline of 3.1%. The lowest volume was recorded in 2020 at 31 976 tonnes, which also saw the largest drop of 22.3%.

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

From 2018 to 2021, Romania and Czechia were the primary sources for Hungary's imports of urea and thiourea resins in volume, together accounting for 90.1% of total imports. Other markets contributed relatively smaller shares.

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

The market for urea and thiourea resin imports into Hungary showed volatility during the observed period. The lowest value was recorded in 2020 at 10 715 thousand US dollars, while the highest occurred in 2021 at 20 523 thousand US dollars, representing a 1.9-fold increase from the trough. In 2021, imports surged by 91.5% compared to the previous year. The largest decline was in 2020, with a drop of 33.2%.

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

Between 2018 and 2021, Romania and Czechia jointly accounted for 86.1% of the total value of urea and thiourea resin imports into Hungary. The remaining imports were distributed among smaller markets.

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

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