Bulgaria: Pig Iron Articles Market 2024

Pig Iron Articles Market Size in Bulgaria

In 2021, the Bulgarian pig iron articles market increased by 36% to $X for the first time since 2017, thus ending a three-year declining trend. The market value increased at an average annual rate of +1.3% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Pig iron articles consumption peaked at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Pig Iron Articles Exports

Exports from Bulgaria

Pig iron articles exports from Bulgaria skyrocketed to X tons in 2021, picking up by 53% on the previous year. Over the period under review, exports saw buoyant growth. The most prominent rate of growth was recorded in 2014 when exports increased by 1,168% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, pig iron articles exports soared to $X in 2021. Overall, exports showed resilient growth. The most prominent rate of growth was recorded in 2014 when exports increased by 232%. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

North Macedonia (X tons) was the main destination for pig iron articles exports from Bulgaria, accounting for a 64% share of total exports. Moreover, pig iron articles exports to North Macedonia exceeded the volume sent to the second major destination, Spain (X tons), threefold. The third position in this ranking was held by Georgia (X tons), with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to North Macedonia stood at +28.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+9.1% per year) and Georgia (0.0% per year).

In value terms, the largest markets for pig iron articles exported from Bulgaria were Turkey ($X), North Macedonia ($X) and Spain ($X), with a combined 84% share of total exports.

Among the main countries of destination, Turkey, with a CAGR of +65.3%, recorded the highest growth rate of the value of exports, 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 pig iron articles export price amounted to $X per ton, rising by 56% against the previous year. Overall, the export price saw a pronounced expansion. The growth pace was the most rapid in 2013 an increase of 580% against the previous year. 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.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to North Macedonia ($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 Romania (+23.3%), while the prices for the other major destinations experienced mixed trend patterns.

Pig Iron Articles Imports

Imports into Bulgaria

After three years of decline, purchases abroad of granules and powders of pig iron increased by 16% to X tons in 2021. The total import volume increased at an average annual rate of +1.7% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 with an increase of 22%. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports remained at a lower figure.

In value terms, pig iron articles imports soared to $X in 2021. Over the period under review, total imports indicated a modest increase from 2012 to 2021: its value increased at an average annual rate of +1.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Slovenia (X tons), Russia (X tons) and Ukraine (X tons) were the main suppliers of pig iron articles imports to Bulgaria, together accounting for 92% of total imports.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +270.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Slovenia ($X), Russia ($X) and Germany ($X) were the largest pig iron articles suppliers to Bulgaria, together accounting for 83% of total imports.

In terms of the main suppliers, Russia, with a CAGR of +208.1%, 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 pig iron articles import price stood at $X per ton in 2021, rising by 30% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. Over the period under review, average import prices hit record highs at $X per ton in 2013; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+31.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform