Bulgaria: Market for Glass Fibres And Glass Wool 2024

Market Size for Glass Fibres And Glass Wool in Bulgaria

The Bulgarian glass fibres and wool market reduced modestly to $X in 2022, which is down by -4.4% against the previous year. Overall, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Production of Glass Fibres And Glass Wool in Bulgaria

In value terms, glass fibres and wool production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded modest growth. The growth pace was the most rapid in 2019 with an increase of 66% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Exports of Glass Fibres And Glass Wool

Exports from Bulgaria

In 2022, the amount of glass fibres and glass wool exported from Bulgaria soared to X tons, increasing by 1,591% against 2021 figures. In general, exports recorded a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, glass fibres and wool exports soared to $X in 2022. Overall, exports showed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Greece (X tons) was the main destination for glass fibres and wool exports from Bulgaria, with a 86% share of total exports. Moreover, glass fibres and wool exports to Greece exceeded the volume sent to the second major destination, Turkey (X tons), more than tenfold. North Macedonia (X tons) ranked third in terms of total exports with a 3.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Greece totaled +139.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+26.2% per year) and North Macedonia (+19.2% per year).

In value terms, Greece ($X) emerged as the key foreign market for glass fibres and glass wool exports from Bulgaria, comprising 79% of total exports. The second position in the ranking was taken by North Macedonia ($X), with a 1.7% share of total exports. It was followed by Malta, with a 1.5% share.

From 2012 to 2022, the average annual growth rate of value to Greece amounted to +135.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (+19.6% per year) and Malta (+33.6% per year).

Export Prices by Country

In 2022, the average glass fibres and wool export price amounted to $X per ton, dropping by -62.9% against the previous year. In general, the export price saw a perceptible slump. The most prominent rate of growth was recorded in 2021 an increase of 82%. As a result, the export price attained the peak level of $X per ton, and then dropped significantly in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Turkey ($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 Serbia (+11.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres And Glass Wool

Imports into Bulgaria

In 2022, approx. X tons of glass fibres and glass wool were imported into Bulgaria; rising by 21% compared with 2021. Over the period under review, imports, however, recorded a noticeable slump. The most prominent rate of growth was recorded in 2018 when imports increased by 39% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, glass fibres and wool imports surged to $X in 2022. In general, imports recorded a buoyant increase. The pace of growth appeared the most rapid in 2021 with an increase of 53% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Austria (X tons), China (X tons) and Turkey (X tons) were the main suppliers of glass fibres and wool imports to Bulgaria, with a combined 49% share of total imports. Vietnam, Poland, Moldova, the Czech Republic, Italy, Germany, Greece, Slovakia, Serbia and Hungary lagged somewhat behind, together accounting for a further 45%.

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 +151.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest glass fibres and wool suppliers to Bulgaria were Austria ($X), Germany ($X) and Vietnam ($X), together accounting for 52% of total imports.

In terms of the main suppliers, Vietnam, with a CAGR of +153.4%, saw 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 glass fibres and wool import price stood at $X per ton in 2022, rising by 10% against the previous year. Overall, the import price continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2021 an increase of 67%. The import price peaked in 2022 and is expected to retain growth in the near future.

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 Germany ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+10.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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