What role does the chemical industry play in Hungary's economy?

The chemical industry plays an important role in Hungary’s economy. Sales of Hungarian chemicals and chemical products nearly doubled between 2009-2021, registering a growth rate above the EU chemical industry average and touching level of pre-COVID period again.

Are Hungarian chemical companies still a regional player?

This path has broken during the past two years. Anyway the leading Hungarian chemical companies remained in important regional player role in the Central European chemicals market of petrochemicals, polymers, carbon fibers, fertilizers and agrochemical active ingredients.

Which universities are involved in chemical research in Hungary?

Several institutes of the Hungarian Research Centre of Natural Sciences, and also the technical universities of Budapest, Veszprém, Debrecen, Szeged and Miskolc engage in both basic and applied research projects in cooperation with chemical companies and/or under EU programs and projects.

Why is Hungary a leading producer of acryl based carbon fibers?

Hungary remained a leading producer of acryl based carbon fibers. The industry has been on a continuous growth track between 2012 and 2021 due to expanding export markets and the high level of investments into production capacities and energy efficiency, and the further expansion of the chemical value chain, particularly in petrochemistry.

How has inflation affected the chemical industry in Hungary?

Industry was effected by a new influence, the highest inflation of the past 30 years. The chemical and pharmaceutical industries have a long history in Hungary, as do research, development and innovation, particularly essential to the competitiveness and sustainable development of the country’s chemical companies.

Does Hungary have a high export rate?

The performance remained export driven, in 2023: 62,7% of chemicals and chemical products manufactured in Hungary are exported and sold predominantly in the EU Single Market. Unfortunately there is a significant decreasing in export ratio compared to 2021 (67,2%).