Bulgaria: Market for Furnace Burners For Liquid Fuel 2024

Market Size for Furnace Burners For Liquid Fuel in Bulgaria

The Bulgarian liquid fuel furnace burner market dropped markedly to $X in 2021, reducing by -24.4% against the previous year. In general, consumption, however, saw resilient growth. As a result, consumption reached the peak level of $X, and then shrank dramatically in the following year.

Production of Furnace Burners For Liquid Fuel in Bulgaria

In value terms, liquid fuel furnace burner production declined sharply to $X in 2021 estimated in export price. Overall, production, however, showed prominent growth. The pace of growth was the most pronounced in 2020 with an increase of 104% against the previous year. As a result, production attained the peak level of $X, and then contracted notably in the following year.

Exports of Furnace Burners For Liquid Fuel

Exports from Bulgaria

In 2021, shipments abroad of furnace burners for liquid fuel increased by 163% to X tons for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, saw a precipitous shrinkage. The pace of growth appeared the most rapid in 2016 when exports increased by 640% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, liquid fuel furnace burner exports surged to $X in 2021. In general, exports, however, continue to indicate a precipitous decline. The pace of growth appeared the most rapid in 2016 with an increase of 997% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

North Macedonia (X kg) was the main destination for liquid fuel furnace burner exports from Bulgaria, with a 50% share of total exports. Moreover, liquid fuel furnace burner exports to North Macedonia exceeded the volume sent to the second major destination, Moldova (X kg), twofold. The third position in this ranking was taken by Italy (X kg), with a 22% share.

From 2012 to 2021, the average annual growth rate of volume to North Macedonia totaled +39.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Moldova (0.0% per year) and Italy (0.0% per year).

In value terms, the largest markets for liquid fuel furnace burner exported from Bulgaria were North Macedonia ($X), Moldova ($X) and Italy ($X), together comprising 99% of total exports.

North Macedonia, with a CAGR of +32.9%, saw 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

The average liquid fuel furnace burner export price stood at $X per ton in 2021, with a decrease of -4.1% against the previous year. In general, the export price, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2018 an increase of 399%. Over the period under review, the average export prices hit record highs at $X per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Moldova ($X per ton), while the average price for exports to Greece ($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 Greece (-3.3%).

Imports of Furnace Burners For Liquid Fuel

Imports into Bulgaria

Liquid fuel furnace burner imports into Bulgaria skyrocketed to X tons in 2021, rising by 222% compared with the previous year's figure. Over the period under review, imports, however, continue to indicate a deep setback. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, liquid fuel furnace burner imports skyrocketed to $X in 2021. Overall, imports, however, showed a drastic downturn. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

Turkey (X tons), the Netherlands (X tons) and Italy (X tons) were the main suppliers of liquid fuel furnace burner imports to Bulgaria, with a combined 62% share of total imports. These countries were followed by Romania, China, North Macedonia, France and Germany, which together accounted for a further 35%.

From 2012 to 2021, the biggest increases were recorded for North Macedonia (with a CAGR of +176.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest liquid fuel furnace burner suppliers to Bulgaria were Italy ($X), Romania ($X) and Turkey ($X), together comprising 67% of total imports.

In terms of the main suppliers, Turkey, with a CAGR of +41.9%, 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 liquid fuel furnace burner import price stood at $X per ton in 2021, falling by -35.6% against the previous year. Overall, the import price recorded a abrupt slump. The most prominent rate of growth was recorded in 2019 an increase of 59%. As a result, import price reached the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+18.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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