Bulgaria: Artificial Corundum Market 2024

Artificial Corundum Market Size in Bulgaria

The Bulgarian artificial corundum market was finally on the rise to reach $X in 2021, after two years of decline. In general, the total consumption indicated a temperate increase from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -18.0% against 2018 indices. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Artificial Corundum Exports

Exports from Bulgaria

For the sixth consecutive year, Bulgaria recorded growth in overseas shipments of artificial corundum, which increased by 58% to X tons in 2019. Over the period under review, exports continue to indicate a temperate expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, artificial corundum exports skyrocketed to $X in 2019. In general, exports saw mild growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Poland (X tons), Italy (X tons) and North Macedonia (X tons) were the main destinations of artificial corundum exports from Bulgaria, together comprising 75% of total exports. Germany, Greece, Serbia and Romania lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2019, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +96.0%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), North Macedonia ($X) and Germany ($X) constituted the largest markets for artificial corundum exported from Bulgaria worldwide, with a combined 66% share of total exports.

Germany, with a CAGR of +106.1%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2019, the average artificial corundum export price amounted to $X per ton, increasing by 10% against the previous year. In general, the export price, however, showed a perceptible contraction. The export price peaked at $X per ton in 2012; however, from 2013 to 2019, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2019, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Greece ($X per ton) was amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to North Macedonia (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.

Artificial Corundum Imports

Imports into Bulgaria

For the third consecutive year, Bulgaria recorded decline in purchases abroad of artificial corundum, which decreased by -4.5% to X tons in 2021. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by 38%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, artificial corundum imports surged to $X in 2021. In general, total imports indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -20.6% against 2018 indices. The growth pace was the most rapid in 2014 with an increase of 43%. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

Ukraine (X tons), Germany (X tons) and China (X tons) were the main suppliers of artificial corundum imports to Bulgaria, together accounting for 69% of total imports. These countries were followed by France, Hungary, Russia, Italy and Austria, which together accounted for a further 30%.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +85.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest artificial corundum suppliers to Bulgaria were Germany ($X), Ukraine ($X) and China ($X), with a combined 73% share of total imports. These countries were followed by Hungary, France, Austria, Russia and Italy, which together accounted for a further 27%.

France, with a CAGR of +85.0%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average artificial corundum import price amounted to $X per ton, increasing by 26% against the previous year. Over the last nine years, it increased at an average annual rate of +1.5%. The pace of growth appeared the most rapid in 2017 when the average import price increased by 29%. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices failed to regain momentum.

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 Russia (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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