Bulgaria: Market for Copper Bars, Wire And Plates 2024

Market Size for Copper Bars, Wire And Plates in Bulgaria

In 2021, the Bulgarian market for copper bars, wire and plates increased by 35% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +6.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the peak level in 2021 and is likely to see gradual growth in the near future.

Production of Copper Bars, Wire And Plates in Bulgaria

In value terms, copper bars, wire and plates production expanded sharply to $X in 2021 estimated in export price. In general, production, however, continues to indicate a abrupt slump. The growth pace was the most rapid in 2017 with an increase of 121% against the previous year. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Exports of Copper Bars, Wire And Plates

Exports from Bulgaria

In 2021, approx. X tons of copper bars, wire and plates were exported from Bulgaria; increasing by 3.2% compared with the previous year's figure. Over the period under review, total exports indicated a remarkable increase from 2012 to 2021: its volume increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +2.1% against 2018 indices. The most prominent rate of growth was recorded in 2017 when exports increased by 22% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, copper bars, wire and plates exports surged to $X in 2021. In general, exports continue to indicate strong growth. The pace of growth was the most pronounced in 2017 with an increase of 51%. Over the period under review, the exports reached the peak figure in 2021 and are expected to retain growth in years to come.

Exports by Country

Germany (X tons), Italy (X tons) and Poland (X tons) were the main destinations of copper bars, wire and plates exports from Bulgaria, together accounting for 52% of total exports. France, the United States, the UK, Spain, Turkey, South Korea, the Czech Republic, Greece, Switzerland and Romania lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +34.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and Poland ($X) appeared to be the largest markets for copper bars, wire and plates exported from Bulgaria worldwide, together accounting for 52% of total exports. France, the United States, the UK, Spain, Turkey, South Korea, the Czech Republic, Switzerland, Greece and Romania lagged somewhat behind, together comprising a further 36%.

Among the main countries of destination, South Korea, with a CAGR of +48.8%, 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 copper bars, wire and plates stood at $X per ton in 2021, increasing by 44% against the previous year. In general, export price indicated slight growth from 2012 to 2021: its price increased at an average annual rate of +1.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, copper bars, wire and plates export price increased by +44.5% against 2019 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Romania ($X per ton) and Switzerland ($X per ton), while the average price for exports to the Czech Republic ($X per ton) and Greece ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Copper Bars, Wire And Plates

Imports into Bulgaria

For the fourth consecutive year, Bulgaria recorded growth in overseas purchases of copper bars, wire and plates, which increased by 9% to X tons in 2021. Overall, imports saw a buoyant increase. The pace of growth appeared the most rapid in 2020 with an increase of 41%. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in years to come.

In value terms, copper bars, wire and plates imports skyrocketed to $X in 2021. Over the period under review, imports continue to indicate a strong increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Turkey (X tons) constituted the largest copper bars, wire and plates supplier to Bulgaria, with a 81% share of total imports. Moreover, copper bars, wire and plates imports from Turkey exceeded the figures recorded by the second-largest supplier, Italy (X tons), more than tenfold. Romania (X tons) ranked third in terms of total imports with a 4.9% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey totaled +15.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+12.8% per year) and Romania (+23.8% per year).

In value terms, Turkey ($X) constituted the largest supplier of copper bars, wire and plates to Bulgaria, comprising 85% of total imports. The second position in the ranking was held by Romania ($X), with a 5% share of total imports. It was followed by Italy, with a 2.6% share.

From 2012 to 2021, the average annual growth rate of value from Turkey stood at +18.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+25.6% per year) and Italy (+5.2% per year).

Import Prices by Country

The average import price for copper bars, wire and plates stood at $X per ton in 2021, with an increase of 40% against the previous year. Over the period under review, import price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, copper bars, wire and plates import price increased by +37.2% against 2018 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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