Bulgaria: Colour Lake Market 2024

Colour Lake Market Size in Bulgaria

In 2021, the Bulgarian colour lake market increased by 3% to $X, rising for the second consecutive year after two years of decline. In general, the total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.3% 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 +3.9% against 2019 indices. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Colour Lake Exports

Exports from Bulgaria

For the third consecutive year, Bulgaria recorded decline in overseas shipments of colour lakes, preparations based on colour lakes, which decreased by -26.6% to X kg in 2021. Over the period under review, exports recorded a dramatic curtailment. The most prominent rate of growth was recorded in 2016 when exports increased by 134%. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, colour lake exports soared to $X in 2021. Overall, exports saw a sharp descent. The most prominent rate of growth was recorded in 2016 when exports increased by 49% against the previous year. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

Exports by Country

Georgia (X kg) was the main destination for colour lake exports from Bulgaria, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Georgia amounted to -43.3%.

In value terms, Georgia ($X) emerged as the key foreign market for colour lakes, preparations based on colour lakes exports from Bulgaria.

From 2012 to 2021, the average annual rate of growth in terms of value to Georgia amounted to -48.9%.

Export Prices by Country

In 2021, the average colour lake export price amounted to $X per ton, increasing by 65% against the previous year. Overall, the export price, however, recorded a perceptible decrease. The pace of growth appeared the most rapid in 2017 when the average export price increased by 125% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Georgia.

From 2012 to 2021, the rate of growth in terms of prices for Germany amounted to +46.1% per year.

Colour Lake Imports

Imports into Bulgaria

After three years of decline, overseas purchases of colour lakes, preparations based on colour lakes increased by 13% to X tons in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 68%. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, colour lake imports declined modestly to $X in 2021. In general, total imports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -8.1% against 2017 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 48%. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Italy (X tons) constituted the largest supplier of colour lake to Bulgaria, accounting for a 74% share of total imports. Moreover, colour lake imports from Italy exceeded the figures recorded by the second-largest supplier, France (X tons), fourfold. Peru (X tons) ranked third in terms of total imports with a 2.9% share.

From 2012 to 2021, the average annual growth rate of volume from Italy amounted to +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+95.0% per year) and Peru (-2.0% per year).

In value terms, France ($X) constituted the largest supplier of colour lakes, preparations based on colour lakes to Bulgaria, comprising 59% of total imports. The second position in the ranking was held by Italy ($X), with a 25% share of total imports. It was followed by Peru, with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from France amounted to +99.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+8.7% per year) and Peru (-8.1% per year).

Import Prices by Country

The average colour lake import price stood at $X per ton in 2021, declining by -12.6% against the previous year. Over the period under review, import price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when the average import price increased by 37% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the average import prices remained 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 France ($X per ton), while the price for Italy ($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 (+20.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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