Bulgaria: Flat Glass Market 2024

Flat Glass Market Size in Bulgaria

The Bulgarian flat glass market reduced remarkably to $X in 2021, waning by -52.7% against the previous year. Overall, consumption saw a noticeable setback. Flat glass consumption peaked at $X in 2020, and then plummeted in the following year.

Flat Glass Production in Bulgaria

In value terms, flat glass production reduced to $X in 2021 estimated in export price. Overall, production, however, showed a strong expansion. The pace of growth was the most pronounced in 2016 when the production volume increased by 43% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Flat Glass Exports

Exports from Bulgaria

In 2021, shipments abroad of flat glass increased by 16% to X tons, rising for the second year in a row after three years of decline. In general, exports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2016 with an increase of 42%. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, flat glass exports soared to $X in 2021. Overall, exports showed a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Romania (X tons), Turkey (X tons) and Serbia (X tons) were the main destinations of flat glass exports from Bulgaria, with a combined 62% share of total exports. These countries were followed by Ukraine, Greece, North Macedonia, Hungary, Albania, Kosovo, Bosnia and Herzegovina, Moldova and the Netherlands, which together accounted for a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Kosovo (with a CAGR of +86.6%), while the other leaders experienced more modest paces of growth.

In value terms, Romania ($X) remains the key foreign market for flat glass exports from Bulgaria, comprising 35% of total exports. The second position in the ranking was taken by Turkey ($X), with a 16% share of total exports. It was followed by Serbia, with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Romania totaled +13.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+37.9% per year) and Serbia (+10.2% per year).

Export Prices by Country

In 2021, the average flat glass export price amounted to $X per ton, surging by 32% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.4%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Bosnia and Herzegovina ($X per ton), while the average price for exports to Turkey ($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 Kosovo (+47.0%), while the prices for the other major destinations experienced more modest paces of growth.

Flat Glass Imports

Imports into Bulgaria

In 2021, purchases abroad of flat glass was finally on the rise to reach X tons after three years of decline. Over the period under review, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 63% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, flat glass imports surged to $X in 2021. Overall, total imports indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when imports increased by 60%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Romania (X tons) constituted the largest flat glass supplier to Bulgaria, accounting for a 46% share of total imports. Moreover, flat glass imports from Romania exceeded the figures recorded by the second-largest supplier, Hungary (X tons), threefold. The third position in this ranking was held by Iran (X tons), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Romania was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+13.5% per year) and Iran (+41.0% per year).

In value terms, Romania ($X) constituted the largest supplier of flat glass to Bulgaria, comprising 44% of total imports. The second position in the ranking was held by Hungary ($X), with a 16% share of total imports. It was followed by Belgium, with a 6.4% share.

From 2012 to 2021, the average annual growth rate of value from Romania stood at +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+8.5% per year) and Belgium (-2.3% per year).

Import Prices by Country

In 2021, the average flat glass import price amounted to $X per ton, surging by 26% against the previous year. In general, import price indicated a slight increase from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, flat glass import price increased by +53.6% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Belgium ($X per ton), while the price for Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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