Bulgaria: Market for Glass Fibres and Glass Fibre Articles 2024

Market Size for Glass Fibres and Glass Fibre Articles in Bulgaria

The Bulgarian glass fibre and article market shrank modestly to $X in 2022, which is down by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, enjoyed resilient growth. Glass fibre and article consumption peaked at $X in 2021, and then reduced slightly in the following year.

Exports of Glass Fibres and Glass Fibre Articles

Exports from Bulgaria

In 2022, after two years of growth, there was significant decline in overseas shipments of glass fibres and glass fibre articles, when their volume decreased by X% to X tons. Overall, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports attained the maximum at X tons in 2021, and then contracted in the following year.

In value terms, glass fibre and article exports amounted to $X in 2022. In general, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Greece (X tons) was the main destination for glass fibre and article exports from Bulgaria, accounting for a X% share of total exports. Moreover, glass fibre and article exports to Greece exceeded the volume sent to the second major destination, Romania (X tons), more than tenfold. The third position in this ranking was taken by Italy (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Greece stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (X% per year) and Italy (X% per year).

In value terms, Greece ($X) remains the key foreign market for glass fibres and glass fibre articles exports from Bulgaria, comprising X% of total exports. The second position in the ranking was held by Romania ($X), with a X% share of total exports. It was followed by Italy, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Greece stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (X% per year) and Italy (X% per year).

Export Prices by Country

The average glass fibre and article export price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the export price, however, continues to indicate a noticeable reduction. The growth pace was the most rapid in 2014 an increase of X% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to North Macedonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (X%), while the prices for the other major destinations experienced a decline.

Imports of Glass Fibres and Glass Fibre Articles

Imports into Bulgaria

In 2022, the amount of glass fibres and glass fibre articles imported into Bulgaria reduced to X tons, which is down by X% against the previous year's figure. Overall, imports, however, recorded a buoyant increase. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports reached the peak of X tons, and then dropped in the following year.

In value terms, glass fibre and article imports reduced modestly to $X in 2022. In general, imports, however, showed prominent growth. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then dropped in the following year.

Imports by Country

Turkey (X tons), the Czech Republic (X tons) and Latvia (X tons) were the main suppliers of glass fibre and article imports to Bulgaria, with a combined X% share of total imports. Romania, Austria, Slovenia, Moldova, China, Italy, Poland, North Macedonia and Belgium lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Moldova (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest glass fibre and article suppliers to Bulgaria were Austria ($X), Turkey ($X) and the Czech Republic ($X), with a combined X% share of total imports. Latvia, Italy, Romania, China, Poland, Moldova, Slovenia, North Macedonia and Belgium lagged somewhat behind, together comprising a further X%.

North Macedonia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average glass fibre and article import price stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2018 an increase of X%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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