The acetic acid market in Hungary has shown a declining trend from 2013 to 2023, with values decreasing from 3.2048 million kilograms in 2013 to 1.9702 million kilograms in 2023. The most significant annual drops occurred between 2018 and 2019, experiencing over a 10% decrease in those years. Looking over the last five years, the compound annual growth rate (CAGR) stands at -5.1%, indicating a consistent downward trajectory during this period. The last two years alone saw reductions of 5.71% and 6.04%, showcasing continued decline.
Future trends to watch for include potential stabilization in demand, driven by technological advancements in production processes, increased focus on sustainable practices, and potential shifts in the chemical industry's landscape due to regulatory changes or economic conditions. Monitoring these dynamics may offer insights into possible market recovery or further contraction. It will be vital to observe any strategic shifts within industries reliant on acetic acid as they adapt to global and regional market pressures.
| # | 7 Countries | Kilograms | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 394,560,000 | 2023 | +2.45% | -3.07% | View data |
| 2 | 2 Italy | 33,714,000 | 2023 | -2.79% | -2.14% | View data |
| 3 | 3 Denmark | 8,115,300 | 2023 | +1.34% | +1.33% | View data |
| 4 | 4 Finland | 6,792,200 | 2023 | +0.37% | +0.92% | View data |
| 5 | 5 Hungary | 1,970,200 | 2023 | -6.04% | -5.1% | |
| 6 | 6 Croatia | 467,870 | 2023 | +6.16% | +9.03% | View data |
| 7 | 7 Estonia | 350,760 | 2023 | -1.16% | -2.25% | View data |
