Bulgaria: Acetone Market 2024

Acetone Market Size in Bulgaria

In 2021, the Bulgarian acetone market decreased by -4.1% to $X, falling for the second consecutive year after three years of growth. Overall, consumption, however, posted a notable increase. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Acetone Exports

Exports from Bulgaria

In 2021, the amount of acetone exported from Bulgaria skyrocketed to X tons, growing by 53% against 2020 figures. In general, exports recorded a significant increase. The pace of growth was the most pronounced in 2017 with an increase of 81%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the near future.

In value terms, acetone exports surged to $X in 2021. Over the period under review, exports posted a significant increase. The pace of growth was the most pronounced in 2017 when exports increased by 167% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

Greece (X tons) was the main destination for acetone exports from Bulgaria, accounting for a 84% share of total exports. Moreover, acetone exports to Greece exceeded the volume sent to the second major destination, Romania (X tons), more than tenfold. The third position in this ranking was taken by Italy (X tons), with a 5.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Greece amounted to +22.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-7.1% per year) and Italy (+27.6% per year).

In value terms, Greece ($X) remains the key foreign market for acetone exports from Bulgaria, comprising 83% of total exports. The second position in the ranking was taken by Romania ($X), with a 7.6% share of total exports. It was followed by Italy, with a 6.5% share.

From 2012 to 2021, the average annual growth rate of value to Greece stood at +21.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-6.5% per year) and Italy (+35.9% per year).

Export Prices by Country

In 2021, the average acetone export price amounted to $X per ton, growing by 20% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 76%. The export price peaked at $X per ton in 2012; afterwards, it flattened through to 2021.

Average prices varied noticeably for the major overseas markets. In 2021, amid the top suppliers, the countries with the highest prices were Italy ($X per ton) and Romania ($X per ton), while the average price for exports to Greece ($X per ton) and North Macedonia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+6.5%), while the prices for the other major destinations experienced more modest paces of growth.

Acetone Imports

Imports into Bulgaria

In 2021, the amount of acetone imported into Bulgaria was estimated at X tons, increasing by 4.6% against 2020 figures. Overall, imports enjoyed a prominent increase. The pace of growth was the most pronounced in 2019 with an increase of 58% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, acetone imports surged to $X in 2021. In general, imports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2017 when imports increased by 87%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Turkey (X tons) constituted the largest supplier of acetone to Bulgaria, with a 81% share of total imports. Moreover, acetone imports from Turkey exceeded the figures recorded by the second-largest supplier, Poland (X tons), sevenfold. Italy (X tons) ranked third in terms of total imports with a 5.3% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey amounted to +51.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (-0.3% per year) and Italy (-1.4% per year).

In value terms, Turkey ($X) constituted the largest supplier of acetone to Bulgaria, comprising 82% of total imports. The second position in the ranking was taken by Poland ($X), with a 9.8% share of total imports. It was followed by Italy, with a 3.9% share.

From 2012 to 2021, the average annual growth rate of value from Turkey amounted to +48.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (-1.6% per year) and Italy (-3.8% per year).

Import Prices by Country

In 2021, the average acetone import price amounted to $X per ton, surging by 24% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average import price increased by 62% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+4.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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