Bulgaria: Ceramic Electrical Insulator Market 2024

Ceramic Electrical Insulator Market Size in Bulgaria

After two years of growth, the Bulgarian ceramic electrical insulator market decreased by -18.4% to $X in 2022. Overall, consumption, however, enjoyed a moderate increase. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Ceramic Electrical Insulator Production in Bulgaria

In value terms, ceramic electrical insulator production declined to $X in 2022 estimated in export price. In general, production recorded a mild contraction. The pace of growth appeared the most rapid in 2016 with an increase of 229% against the previous year. Ceramic electrical insulator production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Ceramic Electrical Insulator Exports

Exports from Bulgaria

In 2022, after ten years of growth, there was significant decline in shipments abroad of electrical insulators of ceramics, when their volume decreased by -19.2% to X units. In general, exports, however, posted a prominent increase. The pace of growth was the most pronounced in 2021 when exports increased by 62%. As a result, the exports attained the peak of X units, and then contracted significantly in the following year.

In value terms, ceramic electrical insulator exports skyrocketed to $X in 2022. Overall, exports, however, recorded prominent growth. The exports peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Serbia (X units), Italy (X units) and North Macedonia (X units) were the main destinations of ceramic electrical insulator exports from Bulgaria.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Serbia (with a CAGR of +68.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for ceramic electrical insulator exported from Bulgaria were Serbia ($X), Italy ($X) and Denmark ($X), together accounting for 99% of total exports.

Serbia, with a CAGR of +95.3%, 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 more modest paces of growth.

Export Prices by Country

In 2022, the average ceramic electrical insulator export price amounted to $X per unit, jumping by 111% against the previous year. Over the period under review, the export price continues to indicate significant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Serbia ($X per unit), while the average price for exports to North Macedonia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iran (+34.5%), while the prices for the other major destinations experienced more modest paces of growth.

Ceramic Electrical Insulator Imports

Imports into Bulgaria

In 2022, supplies from abroad of electrical insulators of ceramics decreased by -26.6% to X units for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, continue to indicate a strong expansion. The pace of growth was the most pronounced in 2016 when imports increased by 994% against the previous year. Imports peaked at X units in 2021, and then reduced rapidly in the following year.

In value terms, ceramic electrical insulator imports skyrocketed to $X in 2022. Over the period under review, imports, however, posted a prominent expansion. The growth pace was the most rapid in 2021 when imports increased by 59%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X units) was the main ceramic electrical insulator supplier to Bulgaria, accounting for a 125% share of total imports. Moreover, ceramic electrical insulator imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X units), threefold. Italy (X units) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +12.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+29.6% per year) and Italy (-6.9% per year).

In value terms, Vietnam ($X) constituted the largest supplier of electrical insulators of ceramics to Bulgaria, comprising 65% of total imports. The second position in the ranking was taken by China ($X), with a 32% share of total imports. It was followed by Italy, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Vietnam amounted to +51.2%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+31.7% per year) and Italy (+3.0% per year).

Import Prices by Country

In 2022, the average ceramic electrical insulator import price amounted to $X per unit, increasing by 107% against the previous year. In general, the import price, however, continues to indicate a deep downturn. The most prominent rate of growth was recorded in 2017 when the average import price increased by 500% against the previous year. The import price peaked at $X per unit in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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 Austria ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+38.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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