Bulgaria: Denatured Ethyl Alcohol Market 2024

Denatured Ethyl Alcohol Market Size in Bulgaria

The Bulgarian denatured ethyl alcohol market shrank to $X in 2021, declining by -11.6% against the previous year. In general, consumption saw a significant expansion. Denatured ethyl alcohol consumption peaked at $X in 2020, and then declined in the following year.

Denatured Ethyl Alcohol Production in Bulgaria

In value terms, denatured ethyl alcohol production contracted markedly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 284%. Over the period under review, production reached the peak level at $X in 2020, and then dropped markedly in the following year.

Denatured Ethyl Alcohol Exports

Exports from Bulgaria

In 2021, after two years of growth, there was significant decline in overseas shipments of denatured ethyl alcohol and other denatured spirits, when their volume decreased by -47.3% to X tons. In general, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 444%. Over the period under review, the exports reached the peak figure at X tons in 2020, and then contracted notably in the following year.

In value terms, denatured ethyl alcohol exports dropped rapidly to $X in 2021. Overall, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 311%. Over the period under review, the exports attained the maximum at $X in 2020, and then shrank remarkably in the following year.

Exports by Country

Turkey (X tons) was the main destination for denatured ethyl alcohol exports from Bulgaria, accounting for a 70% share of total exports. Moreover, denatured ethyl alcohol exports to Turkey exceeded the volume sent to the second major destination, Spain (X tons), sevenfold. Romania (X tons) ranked third in terms of total exports with an 8.3% share.

From 2012 to 2021, the average annual growth rate of volume to Turkey stood at +34.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+495.4% per year) and Romania (+22.2% per year).

In value terms, Turkey ($X) remains the key foreign market for denatured ethyl alcohol and other denatured spirits exports from Bulgaria, comprising 62% of total exports. The second position in the ranking was taken by Romania ($X), with a 12% share of total exports. It was followed by Spain, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Turkey totaled +32.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+26.3% per year) and Spain (+273.2% per year).

Export Prices by Country

In 2021, the average denatured ethyl alcohol export price amounted to $X per ton, which is down by -21.4% against the previous year. Overall, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 70% against the previous year. As a result, the export price attained the peak level of $X per ton, and then declined significantly in the following year.

Prices varied noticeably country of destination: the country with the highest price was Greece ($X per ton), while the average price for exports to Turkey ($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 Italy (+24.0%), while the prices for the other major destinations experienced more modest paces of growth.

Denatured Ethyl Alcohol Imports

Imports into Bulgaria

In 2021, imports of denatured ethyl alcohol and other denatured spirits into Bulgaria contracted to X tons, falling by -6.9% against 2020 figures. In general, imports, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of 169% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, denatured ethyl alcohol imports shrank to $X in 2021. Over the period under review, imports, however, recorded resilient growth. The growth pace was the most rapid in 2018 when imports increased by 158% against the previous year. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, Hungary (X tons) was the main supplier of denatured ethyl alcohol to Bulgaria, accounting for a 93% share of total imports. Moreover, denatured ethyl alcohol imports from Hungary exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Hungary stood at +19.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+4.3% per year) and Austria (-21.4% per year).

In value terms, Hungary ($X) constituted the largest supplier of denatured ethyl alcohol and other denatured spirits to Bulgaria, comprising 89% of total imports. The second position in the ranking was held by Germany ($X), with a 6.3% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Hungary totaled +18.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.8% per year) and Austria (-22.2% per year).

Import Prices by Country

The average denatured ethyl alcohol import price stood at $X per ton in 2021, which is down by -2.9% against the previous year. In general, the import price showed a mild curtailment. The most prominent rate of growth was recorded in 2020 when the average import price increased by 21% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hungary (-0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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