Hungary: Linseed Oil Market 2024

Linseed Oil Market Size in Hungary

In 2022, the Hungarian linseed oil market decreased by X% to $X, falling for the fourth consecutive year after two years of growth. In general, the total consumption indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2018 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Linseed Oil Production in Hungary

In value terms, linseed oil production reached $X in 2022 estimated in export price. Over the period under review, production recorded resilient growth. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Linseed Oil Exports

Exports from Hungary

In 2022, approx. X tons of linseed oil were exported from Hungary; approximately mirroring the previous year. Overall, exports saw significant growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, linseed oil exports rose sharply to $X in 2022. In general, exports saw significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Croatia (X tons), the Czech Republic (X tons) and Slovakia (X tons) were the main destinations of linseed oil exports from Hungary, with a combined X% share of total exports. Slovenia, Bosnia and Herzegovina, Romania and Serbia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Serbia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for linseed oil exported from Hungary were Croatia ($X), the Czech Republic ($X) and Slovakia ($X), with a combined X% share of total exports. Slovenia, Bosnia and Herzegovina, Romania and Serbia lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Serbia, 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 linseed oil export price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the export price saw moderate growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Romania ($X per ton) and the Czech Republic ($X per ton), while the average price for exports to Serbia ($X per ton) and Bosnia and Herzegovina ($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 Slovenia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Linseed Oil Imports

Imports into Hungary

In 2022, the amount of linseed oil imported into Hungary shrank remarkably to X tons, with a decrease of X% against the previous year's figure. In general, imports recorded a abrupt descent. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, linseed oil imports shrank to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

Belgium (X tons), Germany (X tons) and Italy (X tons) were the main suppliers of linseed oil imports to Hungary, together comprising X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of X%), while purchases for the other leaders experienced a decline.

In value terms, the largest linseed oil suppliers to Hungary were Germany ($X), Belgium ($X) and Italy ($X), with a combined X% share of total imports.

Belgium, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average linseed oil import price amounted to $X per ton, rising by X% against the previous year. In general, the import price posted a buoyant increase. The pace of growth was the most pronounced in 2020 an increase of X%. The import price peaked in 2022 and is expected to retain growth in years to come.

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 Italy ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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