In Hungary, the market size for stainless steel flat-rolled products of at least 600 mm in width, not further worked than cold-rolled, stood at 165.36 million euros in 2023. This represented a 4.45% year-on-year increase from 2022. The compound annual growth rate (CAGR) over the past five years was 3.1%, indicating a steady upward trend, with significant fluctuations such as the notable 35.16% increase in 2017. Growth slowed down between 2018 and 2021, with modest year-on-year increments, but saw a resurgence in 2022.
Future trends to watch for include:
- Potential impacts of global economic conditions, including supply chain disruptions and trade tariffs, which may influence production costs and demand.
- The influence of technological advancements and sustainability practices on product demand and processing efficiency in the steel industry.
- The potential expansion of key industries in Hungary, such as automotive and construction, which could drive increased demand for stainless steel products.
| # | 5 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Poland | 678,190,000 | 2023 | +7.43% | +2.28% | View data |
| 2 | 2 Czech Republic | 321,690,000 | 2023 | +2.09% | +0.53% | View data |
| 3 | 3 Denmark | 199,610,000 | 2023 | +6.39% | +4.71% | View data |
| 4 | 4 Hungary | 165,360,000 | 2023 | +4.45% | +3.1% | |
| 5 | 5 Estonia | 17,336,000 | 2023 | +3.12% | -0.037% | View data |
