Bulgaria: Biodiesel Market 2025

Biodiesel Market Size in Bulgaria

The Bulgarian biodiesel market declined rapidly to $X in 2021, falling by -67.8% against the previous year. Over the period under review, consumption continues to indicate a abrupt shrinkage. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Biodiesel Production in Bulgaria

In value terms, biodiesel production declined modestly to $X in 2021 estimated in export price. Over the period under review, production saw a significant expansion. The growth pace was the most rapid in 2013 when the production volume increased by 553%. Over the period under review, production reached the maximum level at $X in 2020, and then reduced in the following year.

Biodiesel Exports

Exports from Bulgaria

In 2021, the amount of biodiesel exported from Bulgaria skyrocketed to X tons, growing by 31% compared with 2020 figures. Over the period under review, exports showed a significant increase. The pace of growth appeared the most rapid in 2016 with an increase of 491%. The exports peaked in 2021 and are likely to continue growth in the near future.

In value terms, biodiesel exports skyrocketed to $X in 2021. Overall, exports showed a significant increase. The pace of growth appeared the most rapid in 2016 when exports increased by 496% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.

Exports by Country

Romania (X tons), Italy (X tons) and Hungary (X tons) were the main destinations of biodiesel exports from Bulgaria, with a combined 56% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Italy (with a CAGR of +174.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Italy ($X) and Hungary ($X) constituted the largest markets for biodiesel exported from Bulgaria worldwide, with a combined 56% share of total exports.

Italy, with a CAGR of +197.6%, recorded the highest growth rate of the value of exports, among 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

The average biodiesel export price stood at $X per ton in 2021, jumping by 61% against the previous year. Over the period under review, export price indicated a noticeable increase from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, biodiesel export price increased by +66.8% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Croatia (+12.0%), while the prices for the other major destinations experienced more modest paces of growth.

Biodiesel Imports

Imports into Bulgaria

In 2021, approx. X tons of biodiesel were imported into Bulgaria; increasing by 3.4% compared with the previous year. In general, imports posted a significant expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 189%. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, biodiesel imports soared to $X in 2021. Over the period under review, imports recorded a prominent expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 175% against the previous year. Over the period under review, imports reached the peak figure in 2021 and are likely to see gradual growth in the near future.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest supplier of biodiesel to Bulgaria, with a 60% share of total imports. Moreover, biodiesel imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Spain (X tons), threefold. Belgium (X tons) ranked third in terms of total imports with a 9.8% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands totaled +35.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+42.4% per year) and Belgium (+117.3% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of biodiesel to Bulgaria, comprising 62% of total imports. The second position in the ranking was held by Spain ($X), with a 20% share of total imports. It was followed by Belgium, with a 9.4% share.

From 2012 to 2021, the average annual growth rate of value from the Netherlands stood at +37.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+60.5% per year) and Belgium (+138.4% per year).

Import Prices by Country

The average biodiesel import price stood at $X per ton in 2021, jumping by 56% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2012; afterwards, it flattened through to 2021.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from the Netherlands ($X per ton) and Poland ($X per ton), while the price for Romania ($X per ton) and Portugal ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+12.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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