Bulgaria: Activated Carbon Market 2024

Activated Carbon Market Size in Bulgaria

In 2022, the Bulgarian activated carbon market increased by 5.4% to $X, rising for the second year in a row after two years of decline. In general, consumption, however, recorded a perceptible increase. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Activated Carbon Exports

Exports from Bulgaria

For the third year in a row, Bulgaria recorded growth in overseas shipments of activated carbon, which increased by 153% to X tons in 2022. Over the period under review, exports recorded a prominent increase. The most prominent rate of growth was recorded in 2015 when exports increased by 842% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, activated carbon exports skyrocketed to $X in 2022. Overall, exports posted a prominent expansion. The pace of growth was the most pronounced in 2020 when exports increased by 725%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey (X tons), Iran (X tons) and North Macedonia (X tons) were the main destinations of activated carbon exports from Bulgaria, with a combined 84% share of total exports.

From 2012 to 2022, the biggest increases were recorded for North Macedonia (with a CAGR of +71.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Iran ($X) and North Macedonia ($X) appeared to be the largest markets for activated carbon exported from Bulgaria worldwide, together comprising 81% of total exports.

North Macedonia, with a CAGR of +57.6%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average activated carbon export price stood at $X per ton in 2022, with a decrease of -27.6% against the previous year. Over the period under review, the export price showed a deep downturn. The most prominent rate of growth was recorded in 2020 when the average export price increased by 465% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Latvia ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (-0.7%), while the prices for the other major destinations experienced a decline.

Activated Carbon Imports

Imports into Bulgaria

Activated carbon imports into Bulgaria declined to X tons in 2022, which is down by -1.9% against the year before. Overall, imports, however, saw a mild increase. The most prominent rate of growth was recorded in 2021 with an increase of 145% against the previous year. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, activated carbon imports rose sharply to $X in 2022. In general, imports, however, recorded a tangible expansion. The most prominent rate of growth was recorded in 2014 with an increase of 183%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Austria (X tons) constituted the largest supplier of activated carbon to Bulgaria, accounting for a 40% share of total imports. Moreover, activated carbon imports from Austria exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. Germany (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Austria amounted to +139.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-1.5% per year) and Germany (-13.4% per year).

In value terms, Austria ($X) constituted the largest supplier of activated carbon to Bulgaria, comprising 45% of total imports. The second position in the ranking was held by Germany ($X), with an 11% share of total imports. It was followed by the Netherlands, with a 9.5% share.

From 2012 to 2022, the average annual growth rate of value from Austria amounted to +128.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-10.1% per year) and the Netherlands (-5.1% per year).

Import Prices by Country

In 2022, the average activated carbon import price amounted to $X per ton, with an increase of 15% against the previous year. Overall, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, activated carbon import price decreased by -8.7% against 2020 indices. The most prominent rate of growth was recorded in 2014 when the average import price increased by 42% against the previous year. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+19.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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