The silicone market in Hungary has shown significant growth from 2013 to 2023, reaching a market size value of 49.465 million euros in 2023. Between 2013 and 2023, the market displayed various growth phases, with notable year-on-year increases in 2017 (28.29%) and 2018 (30.68%). However, recent growth has stabilized, with more moderate increases of 5.83% in 2022 and 5.48% in 2023. The compound annual growth rate (CAGR) for the last five years stands at 8.54%, indicating steady progress but a slowing momentum compared to earlier years.
Future trends to watch include increased demand for silicone in technology and automotive sectors, as well as potential innovations in sustainability practices that could affect supply and market dynamics. Keeping an eye on global supply chain disruptions and regulatory changes will also be essential for assessing future market developments.
| # | 9 Countries | Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 4,069,300,000 | 2023 | +1.79% | -0.33% | View data |
| 2 | 2 Italy | 408,170,000 | 2023 | +3.93% | +1.39% | View data |
| 3 | 3 Spain | 216,020,000 | 2023 | +2.3% | +1.22% | View data |
| 4 | 4 Austria | 153,000,000 | 2023 | +3.26% | +0.94% | View data |
| 5 | 5 Hungary | 49,465,000 | 2023 | +5.48% | +8.54% | |
| 6 | 6 Finland | 33,212,000 | 2023 | -0.19% | -0.22% | View data |
| 7 | 7 Denmark | 15,920,000 | 2023 | +1.47% | +0.45% | View data |
