Hungary: Twine And Cordage Market 2024

Twine And Cordage Market Size in Hungary

After two years of growth, the Hungarian twine and cordage market decreased by X% to $X in 2022. Over the period under review, consumption, however, continues to indicate buoyant growth. Twine and cordage consumption peaked at $X in 2021, and then fell notably in the following year.

Twine And Cordage Production in Hungary

In value terms, twine and cordage production contracted notably to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a resilient expansion. The growth pace was the most rapid in 2015 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2021, and then shrank rapidly in the following year.

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Twine And Cordage Exports

Exports from Hungary

In 2022, shipments abroad of twine, cordage, rope and cables increased by X% to X tons, rising for the fourth consecutive year after three years of decline. Over the period under review, exports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2020 when exports increased by X%. The exports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, twine and cordage exports surged to $X in 2022. Overall, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to continue growth in the immediate term.

Exports by Country

France (X tons), Germany (X tons) and Romania (X tons) were the main destinations of twine and cordage exports from Hungary, together accounting for X% of total exports. The United States, the UK, Italy, Ukraine, Canada, Turkey, South Africa and Australia lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and the United States ($X) constituted the largest markets for twine and cordage exported from Hungary worldwide, with a combined X% share of total exports. Romania, the UK, Italy, Canada, Turkey, Ukraine, Australia and South Africa lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Australia, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average twine and cordage export price amounted to $X per ton, picking up by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United States ($X per ton) and Australia ($X per ton), while the average price for exports to Ukraine ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (X%), while the prices for the other major destinations experienced more modest paces of growth.

Twine And Cordage Imports

Imports into Hungary

In 2022, supplies from abroad of twine, cordage, rope and cables decreased by X% to X tons for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, posted a resilient expansion. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Imports peaked at X tons in 2021, and then fell in the following year.

In value terms, twine and cordage imports dropped to $X in 2022. Over the period under review, imports, however, showed a resilient expansion. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Poland (X tons) constituted the largest supplier of twine and cordage to Hungary, with a X% share of total imports. Moreover, twine and cordage imports from Poland exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was held by the Czech Republic (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Poland stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and the Czech Republic (X% per year).

In value terms, Germany ($X), Poland ($X) and the Czech Republic ($X) constituted the largest twine and cordage suppliers to Hungary, together comprising X% of total imports. China, Serbia, Slovakia and the Netherlands lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Serbia, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average twine and cordage import price amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price continues to indicate a slight contraction. The pace of growth was the most pronounced in 2016 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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