Bulgaria: Illuminated Sign Market 2024

Illuminated Sign Market Size in Bulgaria

The Bulgarian illuminated sign market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption recorded prominent growth. Illuminated sign consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Illuminated Sign Production in Bulgaria

In value terms, illuminated sign production expanded rapidly to $X in 2021 estimated in export price. In general, production recorded a resilient increase. The pace of growth was the most pronounced in 2013 with an increase of 111% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Illuminated Sign Exports

Exports from Bulgaria

For the fourth consecutive year, Bulgaria recorded decline in overseas shipments of illuminated signs and illuminated name-plates, which decreased by -4.3% to X tons in 2021. In general, exports faced a deep setback. The pace of growth was the most pronounced in 2015 with an increase of 213% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, illuminated sign exports surged to $X in 2021. Overall, exports saw a abrupt contraction. The most prominent rate of growth was recorded in 2015 with an increase of 198%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

France (X tons), Germany (X tons) and the United States (X tons) were the main destinations of illuminated sign exports from Bulgaria, together accounting for 52% of total exports. These countries were followed by North Macedonia, Mexico, Poland, Sweden, Luxembourg, the UK, Ukraine, Serbia, Turkey and Hungary, which together accounted for a further 36%.

From 2012 to 2021, the biggest increases were recorded for North Macedonia (with a CAGR of +30.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and the United States ($X) appeared to be the largest markets for illuminated sign exported from Bulgaria worldwide, together accounting for 61% of total exports. These countries were followed by Mexico, Poland, Sweden, the UK, North Macedonia, Ukraine, Hungary, Turkey, Luxembourg and Serbia, which together accounted for a further 27%.

In terms of the main countries of destination, Ukraine, with a CAGR of +25.6%, saw the highest rates of growth with regard to 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 illuminated sign export price amounted to $X per ton, increasing by 21% against the previous year. Over the period under review, export price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, illuminated sign export price increased by +80.3% against 2017 indices. The pace of growth was the most pronounced in 2018 when the average export price increased by 37%. The export price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Luxembourg ($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 Hungary (+12.1%), while the prices for the other major destinations experienced more modest paces of growth.

Illuminated Sign Imports

Imports into Bulgaria

In 2021, illuminated sign imports into Bulgaria fell to X tons, with a decrease of -14.7% compared with 2020 figures. Over the period under review, imports recorded a perceptible slump. The growth pace was the most rapid in 2014 when imports increased by 66%. As a result, imports reached the peak of X tons. From 2015 to 2021, the growth of imports remained at a lower figure.

In value terms, illuminated sign imports fell notably to $X in 2021. In general, imports saw a noticeable downturn. The pace of growth was the most pronounced in 2014 when imports increased by 74% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Turkey (X tons), China (X tons) and Greece (X tons) were the main suppliers of illuminated sign imports to Bulgaria, together accounting for 70% of total imports. Germany, Hong Kong SAR, Austria, Poland and Romania lagged somewhat behind, together comprising a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +21.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), China ($X) and Greece ($X) were the largest illuminated sign suppliers to Bulgaria, together accounting for 54% of total imports. These countries were followed by Germany, Poland, Hong Kong SAR, Austria and Romania, which together accounted for a further 32%.

In terms of the main suppliers, Austria, with a CAGR of +12.4%, 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

In 2021, the average illuminated sign import price amounted to $X per ton, with a decrease of -6.3% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of 8.4% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

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 Poland ($X per ton), while the price for Turkey ($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 (+10.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :