Bulgaria: Black Printing Ink Market 2024

Black Printing Ink Market Size in Bulgaria

The Bulgarian black printing ink market reached $X in 2022, almost unchanged from the previous year. In general, consumption saw a relatively flat trend pattern. Black printing ink consumption peaked at $X in 2017; afterwards, it flattened through to 2022.

Black Printing Ink Production in Bulgaria

In value terms, black printing ink production skyrocketed to $X in 2022 estimated in export price. In general, production, however, saw a abrupt descent. Black printing ink production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Black Printing Ink Exports

Exports from Bulgaria

In 2022, exports of black printing ink from Bulgaria surged to X tons, with an increase of 20% compared with 2021. In general, exports enjoyed a buoyant increase. The most prominent rate of growth was recorded in 2014 with an increase of 432%. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, black printing ink exports skyrocketed to $X in 2022. Over the period under review, exports posted a buoyant expansion. The growth pace was the most rapid in 2014 when exports increased by 87% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Romania (X tons), Albania (X tons) and Georgia (X tons) were the main destinations of black printing ink exports from Bulgaria, with a combined 45% share of total exports. North Macedonia, Serbia, Armenia, Belarus, Turkey, Greece and Spain lagged somewhat behind, together accounting for a further 48%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +497.6%), while the other leaders experienced more modest paces of growth.

In value terms, Romania ($X) remains the key foreign market for black printing ink exports from Bulgaria, comprising 32% of total exports. The second position in the ranking was held by Turkey ($X), with a 13% share of total exports. It was followed by Armenia, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Romania stood at +25.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+182.9% per year) and Armenia (+74.4% per year).

Export Prices by Country

In 2022, the average black printing ink export price amounted to $X per ton, surging by 9.1% against the previous year. Over the period under review, the export price, however, saw a abrupt curtailment. The growth pace was the most rapid in 2017 when the average export price increased by 93% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 Turkey ($X per ton), while the average price for exports to North Macedonia ($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 Spain (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.

Black Printing Ink Imports

Imports into Bulgaria

Black printing ink imports into Bulgaria expanded slightly to X tons in 2022, growing by 3.2% compared with 2021. Over the period under review, imports, however, saw a perceptible descent. The pace of growth appeared the most rapid in 2015 when imports increased by 14% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2022, the growth of imports failed to regain momentum.

In value terms, black printing ink imports fell to $X in 2022. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 24%. As a result, imports attained the peak of $X, leveling off in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of black printing ink to Bulgaria, with a 47% share of total imports. Moreover, black printing ink imports from Germany exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold. Greece (X tons) ranked third in terms of total imports with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany amounted to -2.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+2.5% per year) and Greece (-1.5% per year).

In value terms, Germany ($X) constituted the largest supplier of black printing ink to Bulgaria, comprising 28% of total imports. The second position in the ranking was held by Italy ($X), with a 10% share of total imports. It was followed by Turkey, with a 10% share.

From 2012 to 2022, the average annual growth rate of value from Germany totaled +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+3.1% per year) and Turkey (+6.2% per year).

Import Prices by Country

The average black printing ink import price stood at $X per ton in 2022, dropping by -3.3% against the previous year. Overall, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, black printing ink import price increased by +12.8% against 2020 indices. The growth pace was the most rapid in 2017 an increase of 33%. The import price peaked at $X per ton in 2021, and then dropped slightly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Spain ($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 (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform