Bulgaria: Market for Compounds With Other Nitrogen Function (Excluding Isocyanates) 2024

Market Size for Compounds With Other Nitrogen Function (Excluding Isocyanates) in Bulgaria

The Bulgarian market for compounds with other nitrogen function (excluding isocyanates) declined sharply to $X in 2022, which is down by -42.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption faced a deep slump. Compounds with other nitrogen function consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Exports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Exports from Bulgaria

In 2022, compounds with other nitrogen function exports from Bulgaria expanded sharply to X tons, surging by 12% against 2021 figures. Over the period under review, exports, however, faced a drastic downturn. The pace of growth appeared the most rapid in 2015 with an increase of 108%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, compounds with other nitrogen function exports shrank markedly to $X in 2022. In general, exports, however, saw a abrupt contraction. The pace of growth appeared the most rapid in 2017 with an increase of 31%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Spain (X tons) was the main destination for compounds with other nitrogen function exports from Bulgaria, with a 52% share of total exports. Moreover, compounds with other nitrogen function exports to Spain exceeded the volume sent to the second major destination, Romania (X kg), twofold. Ukraine (X kg) ranked third in terms of total exports with a 16% share.

From 2012 to 2022, the average annual growth rate of volume to Spain amounted to +43.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-18.2% per year) and Ukraine (0.0% per year).

In value terms, Spain ($X), Romania ($X) and Ukraine ($X) constituted the largest markets for compounds with other nitrogen function exported from Bulgaria worldwide, with a combined 86% share of total exports.

Among the main countries of destination, Spain, with a CAGR of +22.8%, saw the highest growth rate of 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

The average export price for compounds with other nitrogen function (excluding isocyanates) stood at $X per ton in 2022, shrinking by -35.1% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of 81%. Over the period under review, the average export prices reached the maximum at $X per ton in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was North Macedonia ($X per ton), while the average price for exports to Spain ($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 Romania (+13.1%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Compounds With Other Nitrogen Function (Excluding Isocyanates)

Imports into Bulgaria

In 2022, approx. X tons of compounds with other nitrogen function (excluding isocyanates) were imported into Bulgaria; waning by -56.9% compared with the previous year's figure. Overall, imports showed a abrupt decrease. The pace of growth appeared the most rapid in 2019 when imports increased by 28%. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, compounds with other nitrogen function imports dropped markedly to $X in 2022. Over the period under review, imports saw a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of 39% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Germany (X tons), Indonesia (X tons) and China (X tons) were the main suppliers of compounds with other nitrogen function imports to Bulgaria, together comprising 80% of total imports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +61.8%), while purchases for the other leaders experienced a decline.

In value terms, the largest compounds with other nitrogen function suppliers to Bulgaria were Germany ($X), Indonesia ($X) and China ($X), with a combined 70% share of total imports.

Germany, with a CAGR of +69.3%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average import price for compounds with other nitrogen function (excluding isocyanates) amounted to $X per ton, increasing by 61% against the previous year. Over the period under review, import price indicated a moderate increase from 2012 to 2022: its price increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, compounds with other nitrogen function import price increased by +69.5% against 2020 indices. The most prominent rate of growth was recorded in 2018 an increase of 67%. Over the period under review, average import prices hit record highs in 2022 and is likely to continue growth in years to come.

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 France ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :