Bulgaria: Carbonate Market 2024

Carbonate Market Size in Bulgaria

The Bulgarian carbonate market totaled $X in 2021, rising by 5% against the previous year. Over the period under review, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.5% 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 increased by +45.2% against 2019 indices. Over the period under review, the market attained the peak level in 2021 and is likely to see steady growth in the immediate term.

Carbonate Production in Bulgaria

In value terms, carbonate production surged to $X in 2021 estimated in export price. In general, production continues to indicate prominent growth. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Carbonate Exports

Exports from Bulgaria

In 2021, after two years of decline, there was significant growth in overseas shipments of carbonates and peroxocarbonates, when their volume increased by 19% to X tons. Over the period under review, exports, however, continue to indicate a slight setback. The most prominent rate of growth was recorded in 2017 with an increase of 31%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, carbonate exports skyrocketed to $X in 2021. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 32% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Egypt (X tons), Saudi Arabia (X tons) and Turkey (X tons) were the main destinations of carbonate exports from Bulgaria, together accounting for 46% of total exports. India, Italy, Romania, Algeria, Vietnam, Nigeria, Thailand, Bangladesh, Israel and Ukraine lagged somewhat behind, together accounting for a further 42%.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +2,759.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X), Turkey ($X) and Saudi Arabia ($X) constituted the largest markets for carbonate exported from Bulgaria worldwide, together comprising 46% of total exports. India, Italy, Romania, Algeria, Vietnam, Nigeria, Thailand, Bangladesh, Israel and Ukraine lagged somewhat behind, together accounting for a further 42%.

In terms of the main countries of destination, India, with a CAGR of +1,729.4%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average carbonate export price amounted to $X per ton, standing approx. at the previous year. Overall, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average export price increased by 10%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major foreign markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Ukraine ($X per ton) and Italy ($X per ton), while the average price for exports to Bangladesh ($X per ton) and Algeria ($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 Thailand (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Carbonate Imports

Imports into Bulgaria

In 2021, carbonate imports into Bulgaria reached X tons, increasing by 3.3% against 2020. In general, imports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2016 when imports increased by 15%. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, carbonate imports fell modestly to $X in 2021. Overall, imports, however, showed a abrupt decline. The most prominent rate of growth was recorded in 2016 when imports increased by 21% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Greece (X tons), Turkey (X tons) and Bosnia and Herzegovina (X tons) were the main suppliers of carbonate imports to Bulgaria, with a combined 87% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Greece (with a CAGR of +15.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Greece ($X) and Germany ($X) constituted the largest carbonate suppliers to Bulgaria, with a combined 57% share of total imports.

In terms of the main suppliers, Greece, with a CAGR of +11.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average carbonate import price stood at $X per ton in 2021, waning by -7.9% against the previous year. In general, the import price recorded a mild setback. The pace of growth appeared the most rapid in 2017 when the average import price increased by 20%. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Greece ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+15.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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