Bulgaria: Check Valve Market 2024

Check Valve Market Size in Bulgaria

In 2021, after three years of growth, there was decline in the Bulgarian check valve market, when its value decreased by -3.6% to $X. Overall, consumption showed a prominent increase. As a result, consumption reached the peak level of $X, and then contracted slightly in the following year.

Check Valve Production in Bulgaria

In value terms, check valve production stood at $X in 2021 estimated in export price. Overall, the total production indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.1% against 2017 indices. The most prominent rate of growth was recorded in 2017 with an increase of 20%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a lower figure.

Check Valve Exports

Exports from Bulgaria

For the third consecutive year, Bulgaria recorded growth in shipments abroad of check valves for pipes, boiler shells, tanks and vats, which increased by 202% to X units in 2021. In general, exports showed significant growth. The pace of growth was the most pronounced in 2020 when exports increased by 237%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

In value terms, check valve exports soared to $X in 2021. Overall, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey (X units) was the main destination for check valve exports from Bulgaria, accounting for a 40% share of total exports. Moreover, check valve exports to Turkey exceeded the volume sent to the second major destination, Egypt (X units), threefold. The third position in this ranking was held by Iran (X units), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey totaled +97.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+785.3% per year) and Iran (0.0% per year).

In value terms, Turkey ($X) remains the key foreign market for check valves for pipes, boiler shells, tanks and vats exports from Bulgaria, comprising 67% of total exports. The second position in the ranking was held by Iran ($X), with a 5.1% share of total exports. It was followed by Egypt, with a 3% share.

From 2012 to 2021, the average annual growth rate of value to Turkey totaled +76.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (0.0% per year) and Egypt (+192.7% per year).

Export Prices by Country

In 2021, the average check valve export price amounted to $X per unit, which is down by -13.8% against the previous year. Over the period under review, the export price recorded a abrupt contraction. The most prominent rate of growth was recorded in 2017 an increase of 34% against the previous year. The export price peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Turkey ($X per unit), while the average price for exports to Montenegro ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Romania (-7.8%), while the prices for the other major destinations experienced a decline.

Check Valve Imports

Imports into Bulgaria

In 2021, supplies from abroad of check valves for pipes, boiler shells, tanks and vats increased by 30% to X units, rising for the fifth consecutive year after two years of decline. Over the period under review, imports showed significant growth. The pace of growth was the most pronounced in 2020 with an increase of 279%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in the near future.

In value terms, check valve imports declined to $X in 2021. In general, imports saw a prominent increase. The most prominent rate of growth was recorded in 2020 when imports increased by 112% against the previous year. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

In 2021, China (X units) constituted the largest check valve supplier to Bulgaria, with a 68% share of total imports. Moreover, check valve imports from China exceeded the figures recorded by the second-largest supplier, Turkey (X units), fivefold. Poland (X units) ranked third in terms of total imports with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +41.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+37.9% per year) and Poland (+33.4% per year).

In value terms, China ($X), Germany ($X) and Turkey ($X) constituted the largest check valve suppliers to Bulgaria, with a combined 68% share of total imports. Italy and Poland lagged somewhat behind, together comprising a further 12%.

Poland, with a CAGR of +25.3%, recorded the highest growth rate of 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

The average check valve import price stood at $X per unit in 2021, shrinking by -33.2% against the previous year. In general, the import price recorded a deep setback. The most prominent rate of growth was recorded in 2014 when the average import price increased by 5.7% against the previous year. Over the period under review, average import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (-6.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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