Bulgaria: Imines Market 2024

Imines Market Size in Bulgaria

In 2021, the Bulgarian imines market increased by 0.1% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption saw a remarkable increase. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in years to come.

Imines Exports

Exports from Bulgaria

After four years of growth, shipments abroad of imines and their derivatives and salts thereof decreased by -67.8% to X tons in 2021. In general, exports, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 207% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, imines exports contracted significantly to $X in 2021. Overall, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 952%. The exports peaked at $X in 2020, and then dropped sharply in the following year.

Exports by Country

Iran (X tons), Romania (X tons) and the United Arab Emirates (X tons) were the main destinations of imines exports from Bulgaria, with a combined 75% share of total exports.

From 2012 to 2021, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +142.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Iran ($X) emerged as the key foreign market for imines and their derivatives and salts thereof exports from Bulgaria, comprising 52% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 14% share of total exports. It was followed by Armenia, with a 10% share.

From 2012 to 2021, the average annual growth rate of value to Iran was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+165.7% per year) and Armenia (0.0% per year).

Export Prices by Country

In 2021, the average imines export price amounted to $X per ton, rising by 96% against the previous year. Overall, the export price enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2013 an increase of 333%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Armenia ($X per ton), while the average price for exports to Romania ($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 Russia (+24.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imines Imports

Imports into Bulgaria

In 2021, approx. X tons of imines and their derivatives and salts thereof were imported into Bulgaria; waning by -14% against the previous year's figure. In general, imports, however, continue to indicate a prominent expansion. The growth pace was the most rapid in 2017 with an increase of 99%. Imports peaked at X tons in 2020, and then dropped in the following year.

In value terms, imines imports shrank sharply to $X in 2021. Overall, imports, however, showed a resilient increase. The pace of growth was the most pronounced in 2013 with an increase of 67%. Over the period under review, imports hit record highs at $X in 2020, and then dropped dramatically in the following year.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of imines to Bulgaria, accounting for a 35% share of total imports. Moreover, imines imports from Germany exceeded the figures recorded by the second-largest supplier, South Korea (X tons), twofold. The third position in this ranking was held by Belgium (X tons), with a 16% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at +21.1%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+140.9% per year) and Belgium (+126.6% per year).

In value terms, Germany ($X) constituted the largest supplier of imines and their derivatives and salts thereof to Bulgaria, comprising 35% of total imports. The second position in the ranking was held by Belgium ($X), with a 13% share of total imports. It was followed by South Korea, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled +15.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+75.8% per year) and South Korea (+106.9% per year).

Import Prices by Country

In 2021, the average imines import price amounted to $X per ton, dropping by -7.3% against the previous year. In general, import price indicated a mild increase from 2012 to 2021: its price 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. Based on 2021 figures, imines import price increased by +37.2% against 2015 indices. The growth pace was the most rapid in 2013 an increase of 78% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+12.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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