Bulgaria: Chlorides Market 2024

Chlorides Market Size in Bulgaria

In 2021, the Bulgarian chlorides market increased by 2.7% to $X, rising for the fifth consecutive year after four years of decline. Over the period under review, the total consumption indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +3.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +73.7% against 2016 indices. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the near future.

Chlorides Production in Bulgaria

In value terms, chlorides production stood at $X in 2021 estimated in export price. Over the period under review, production continues to indicate a abrupt shrinkage. Chlorides production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Chlorides Exports

Exports from Bulgaria

After four years of growth, overseas shipments of chlorides (excluding ammonium chloride) decreased by -30.1% to X tons in 2021. Over the period under review, exports continue to indicate a sharp slump. The growth pace was the most rapid in 2014 with an increase of 76% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, chlorides exports fell to $X in 2021. Overall, exports continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2014 when exports increased by 86% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Greece (X tons) was the main destination for chlorides exports from Bulgaria, accounting for a 82% share of total exports. Moreover, chlorides exports to Greece exceeded the volume sent to the second major destination, Kosovo (X tons), ninefold. Romania (X tons) ranked third in terms of total exports with a 4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Greece amounted to +4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kosovo (-28.6% per year) and Romania (-43.7% per year).

In value terms, Greece ($X) remains the key foreign market for chlorides (excluding ammonium chloride) exports from Bulgaria, comprising 75% of total exports. The second position in the ranking was taken by Romania ($X), with a 7.6% share of total exports. It was followed by Kosovo, with a 7.2% share.

From 2012 to 2021, the average annual growth rate of value to Greece amounted to +11.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-38.7% per year) and Kosovo (+3.3% per year).

Export Prices by Country

In 2021, the average chlorides export price amounted to $X per ton, increasing by 31% against the previous year. Over the period under review, export price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, chlorides export price increased by +45.6% against 2019 indices. The pace of growth was the most pronounced in 2016 an increase of 88%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Armenia ($X per ton), while the average price for exports to Kosovo ($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 Kosovo (+44.6%), while the prices for the other major destinations experienced more modest paces of growth.

Chlorides Imports

Imports into Bulgaria

In 2021, overseas purchases of chlorides (excluding ammonium chloride) decreased by -8.3% to X tons for the first time since 2014, thus ending a six-year rising trend. Overall, imports, however, showed a resilient increase. The growth pace was the most rapid in 2015 when imports increased by 122% against the previous year. Imports peaked at X tons in 2020, and then fell in the following year.

In value terms, chlorides imports rose rapidly to $X in 2021. Over the period under review, imports, however, posted a resilient expansion. The growth pace was the most rapid in 2015 with an increase of 42%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in years to come.

Imports by Country

In 2021, Romania (X tons) constituted the largest supplier of chlorides to Bulgaria, with a 54% share of total imports. Moreover, chlorides imports from Romania exceeded the figures recorded by the second-largest supplier, Hungary (X tons), threefold. The third position in this ranking was held by Turkey (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Romania amounted to +25.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+87.8% per year) and Turkey (+76.6% per year).

In value terms, Romania ($X) constituted the largest supplier of chlorides (excluding ammonium chloride) to Bulgaria, comprising 44% of total imports. The second position in the ranking was held by Turkey ($X), with a 17% share of total imports. It was followed by Hungary, with a 16% share.

From 2012 to 2021, the average annual growth rate of value from Romania stood at +20.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+62.9% per year) and Hungary (+40.6% per year).

Import Prices by Country

In 2021, the average chlorides import price amounted to $X per ton, with an increase of 22% against the previous year. Overall, the import price, however, saw a abrupt decrease. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Slovenia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-2.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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