Bulgaria: Folding Boxboard Market 2024

Folding Boxboard Market Size in Bulgaria

After two years of decline, the Bulgarian folding boxboard market increased by 26% to $X in 2021. The market value increased at an average annual rate of +2.3% over the period from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Folding Boxboard Exports

Exports from Bulgaria

In 2021, folding boxboard exports from Bulgaria surged to X tons, with an increase of 28% on the year before. Overall, exports saw prominent growth. The most prominent rate of growth was recorded in 2013 when exports increased by 69%. The exports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, folding boxboard exports surged to $X in 2021. Over the period under review, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2013 with an increase of 61% 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.

Exports by Country

Romania (X tons) was the main destination for folding boxboard exports from Bulgaria, with a 30% share of total exports. Moreover, folding boxboard exports to Romania exceeded the volume sent to the second major destination, Greece (X tons), twofold. Belarus (X tons) ranked third in terms of total exports with a 9.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Romania stood at +40.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+36.9% per year) and Belarus (+4.5% per year).

In value terms, Romania ($X), Iran ($X) and Greece ($X) constituted the largest markets for folding boxboard exported from Bulgaria worldwide, together accounting for 43% of total exports. Belarus, Croatia, Turkey, Russia, Iraq, Italy, Austria, Poland, Serbia and Armenia lagged somewhat behind, together accounting for a further 41%.

Iraq, with a CAGR of +160.2%, saw the highest rates of growth with regard to the value of exports, in terms of 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 2021, the average folding boxboard export price amounted to $X per ton, increasing by 11% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 41%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Croatia ($X per ton), while the average price for exports to Romania ($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 Austria (+13.5%), while the prices for the other major destinations experienced more modest paces of growth.

Folding Boxboard Imports

Imports into Bulgaria

Folding boxboard imports into Bulgaria rose rapidly to X tons in 2021, increasing by 10% against the previous year's figure. The total import volume increased at an average annual rate of +3.2% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 17%. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, folding boxboard imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +2.7% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey (X tons), Ukraine (X tons) and Slovenia (X tons) were the main suppliers of folding boxboard imports to Bulgaria, together comprising 33% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Ukraine (with a CAGR of +25.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), Serbia ($X) and Turkey ($X) were the largest folding boxboard suppliers to Bulgaria, with a combined 35% share of total imports. These countries were followed by Finland, Slovenia, Germany, Ukraine, China, Austria, Italy and Sweden, which together accounted for a further 53%.

In terms of the main suppliers, Ukraine, with a CAGR of +29.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average folding boxboard import price stood at $X per ton in 2021, with an increase of 21% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Poland ($X per ton), while the price for Austria ($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 (+5.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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