Bulgaria: Market for Marble And Travertine 2024

Market Size for Marble And Travertine in Bulgaria

The Bulgarian marble and travertine crude market totaled $X in 2022, therefore, remained relatively stable against the previous year. In general, consumption, however, showed a relatively flat trend pattern. Marble and travertine crude consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Production of Marble And Travertine in Bulgaria

In value terms, marble and travertine crude production stood at $X in 2022 estimated in export price. Over the period under review, the total production indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crude production increased by +9.9% against 2019 indices. The growth pace was the most rapid in 2013 when the production volume increased by 44%. Over the period under review, crude production hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Exports of Marble And Travertine

Exports from Bulgaria

In 2022, overseas shipments of marble and travertine decreased by -68.1% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports recorded a deep slump. The most prominent rate of growth was recorded in 2013 when exports increased by 468%. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the crude exports remained at a somewhat lower figure.

In value terms, marble and travertine crude exports shrank significantly to $X in 2022. Overall, exports showed a perceptible descent. The pace of growth appeared the most rapid in 2013 with an increase of 715% against the previous year. Over the period under review, the crude exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

North Macedonia (X tons) was the main destination for marble and travertine crude exports from Bulgaria, accounting for a 65% share of total exports. Moreover, marble and travertine crude exports to North Macedonia exceeded the volume sent to the second major destination, Cyprus (X tons), sixfold. Ukraine (X tons) ranked third in terms of total exports with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to North Macedonia stood at +7.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Cyprus (+60.5% per year) and Ukraine (-1.5% per year).

In value terms, the largest markets for marble and travertine crude exported from Bulgaria were Cyprus ($X), Switzerland ($X) and Romania ($X), with a combined 81% share of total exports.

Cyprus, with a CAGR of +80.3%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average marble and travertine crude export price stood at $X per ton in 2022, dropping by -30.5% against the previous year. Over the period under review, the export price, however, continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2017 when the average export price increased by 56%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to North Macedonia ($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 (+24.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Marble And Travertine

Imports into Bulgaria

For the seventh year in a row, Bulgaria recorded decline in supplies from abroad of marble and travertine, which decreased by -38.7% to X tons in 2022. Overall, imports recorded a abrupt decline. The most prominent rate of growth was recorded in 2015 when imports increased by 115% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of crude imports failed to regain momentum.

In value terms, marble and travertine crude imports contracted notably to $X in 2022. Over the period under review, imports, however, recorded a resilient increase. The growth pace was the most rapid in 2015 when imports increased by 135% against the previous year. Over the period under review, crude imports attained the peak figure at $X in 2021, and then fell rapidly in the following year.

Imports by Country

North Macedonia (X tons), Greece (X tons) and Italy (X tons) were the main suppliers of marble and travertine crude imports to Bulgaria, with a combined 99% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +56.5%), while imports for the other leaders experienced mixed trend patterns.

In value terms, North Macedonia ($X), Italy ($X) and Greece ($X) appeared to be the largest marble and travertine crude suppliers to Bulgaria, together accounting for 94% of total imports.

In terms of the main suppliers, Italy, with a CAGR of +59.5%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average marble and travertine crude import price stood at $X per ton in 2022, with an increase of 15% against the previous year. Over the period under review, the import price posted a resilient expansion. The growth pace was the most rapid in 2013 when the average import price increased by 76% against the previous year. Over the period under review, average import prices reached the peak figure 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 Italy ($X per ton), while the price for Greece ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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