Bulgaria: Cement Clinker Market 2024

Cement Clinker Market Size in Bulgaria

For the sixth year in a row, the Bulgarian cement clinker market recorded growth in sales value, which increased by 1% to $X in 2022. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in years to come.

Cement Clinker Production in Bulgaria

In value terms, cement clinker production shrank slightly to $X in 2022 estimated in export price. Overall, production, however, saw mild growth. The growth pace was the most rapid in 2017 when the production volume increased by 9.1% against the previous year. Cement clinker production peaked at $X in 2021, and then contracted modestly in the following year.

Cement Clinker Exports

Exports from Bulgaria

In 2022, approx. X tons of cement clinker were exported from Bulgaria; dropping by -37% on 2021 figures. In general, exports showed a drastic downturn. The pace of growth was the most pronounced in 2021 when exports increased by 111% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, cement clinker exports dropped remarkably to $X in 2022. Overall, exports saw a perceptible contraction. The pace of growth was the most pronounced in 2021 when exports increased by 116% against the previous year. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Romania (X tons) was the main destination for cement clinker exports from Bulgaria, accounting for a 84% share of total exports. Moreover, cement clinker exports to Romania exceeded the volume sent to the second major destination, Serbia (X tons), more than tenfold. Ukraine (X tons) ranked third in terms of total exports with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Romania totaled +97.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (-13.5% per year) and Ukraine (-21.2% per year).

In value terms, Romania ($X) remains the key foreign market for cement clinker exports from Bulgaria, comprising 80% of total exports. The second position in the ranking was taken by Serbia ($X), with a 12% share of total exports. It was followed by Ukraine, with a 3.8% share.

From 2012 to 2022, the average annual growth rate of value to Romania amounted to +86.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (-8.2% per year) and Ukraine (-23.2% per year).

Export Prices by Country

The average cement clinker export price stood at $X per ton in 2022, picking up by 19% against the previous year. Overall, export price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cement clinker export price increased by +84.5% against 2016 indices. The most prominent rate of growth was recorded in 2019 an increase of 19% against the previous year. The export price peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to Ukraine ($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 Cameroon (+7.2%), while the prices for the other major destinations experienced mixed trend patterns.

Cement Clinker Imports

Imports into Bulgaria

For the third year in a row, Bulgaria recorded growth in purchases abroad of cement clinker, which increased by 2.8% to X tons in 2022. In general, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of 720%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, cement clinker imports soared to $X in 2022. Overall, imports enjoyed buoyant growth. The pace of growth appeared the most rapid in 2014 when imports increased by 316% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the near future.

Imports by Country

Tunisia (X tons), Turkey (X tons) and Romania (X tons) were the main suppliers of cement clinker imports to Bulgaria, with a combined 99% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +88.3%), while purchases for the other leaders experienced a decline.

In value terms, Tunisia ($X), Turkey ($X) and Romania ($X) constituted the largest cement clinker suppliers to Bulgaria, together accounting for 98% of total imports.

In terms of the main suppliers, Turkey, with a CAGR of +100.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average cement clinker import price amounted to $X per ton, rising by 17% against the previous year. Overall, the import price, however, saw a mild shrinkage. The most prominent rate of growth was recorded in 2013 an increase of 107%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices failed to regain momentum.

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 Spain ($X per ton), while the price for Romania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+26.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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