Bulgaria: Market for Industrial Monocarboxylic Fatty Acids 2024

Market Size for Industrial Monocarboxylic Fatty Acids in Bulgaria

In 2021, after two years of growth, there was significant decline in the Bulgarian industrial monocarboxylic fatty acids market, when its value decreased by -29.4% to $X. In general, consumption, however, showed a perceptible expansion. Industrial monocarboxylic fatty acids consumption peaked at $X in 2020, and then contracted dramatically in the following year.

Production of Industrial Monocarboxylic Fatty Acids in Bulgaria

In value terms, industrial monocarboxylic fatty acids production fell dramatically to $X in 2021 estimated in export price. Overall, production, however, recorded a significant expansion. The growth pace was the most rapid in 2017 with an increase of 250%. Over the period under review, production hit record highs at $X in 2020, and then reduced notably in the following year.

Exports of Industrial Monocarboxylic Fatty Acids

Exports from Bulgaria

Industrial monocarboxylic fatty acids exports from Bulgaria skyrocketed to X tons in 2021, growing by 102% against the year before. Over the period under review, exports posted a buoyant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, industrial monocarboxylic fatty acids exports soared to $X in 2021. Overall, exports showed prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey (X tons), Germany (X tons) and Austria (X tons) were the main destinations of industrial monocarboxylic fatty acids exports from Bulgaria, with a combined 78% share of total exports. The Czech Republic, Italy, China, the Netherlands and Romania lagged somewhat behind, together comprising a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +215.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for industrial monocarboxylic fatty acids exported from Bulgaria were Turkey ($X), Germany ($X) and Austria ($X), together accounting for 76% of total exports. These countries were followed by the Czech Republic, Italy, the Netherlands, China and Romania, which together accounted for a further 24%.

In terms of the main countries of destination, Italy, with a CAGR of +303.0%, 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 industrial monocarboxylic fatty acids export price amounted to $X per ton, jumping by 45% against the previous year. Over the period under review, the export price, however, recorded a slight curtailment. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the highest price was recorded for prices to the Czech Republic ($X per ton) and Italy ($X per ton), while the average price for exports to China ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+27.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Industrial Monocarboxylic Fatty Acids

Imports into Bulgaria

In 2021, after three years of growth, there was significant decline in overseas purchases of industrial monocarboxylic fatty acids, when their volume decreased by -72.8% to X tons. In general, imports saw a abrupt decline. The most prominent rate of growth was recorded in 2013 with an increase of 80% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, industrial monocarboxylic fatty acids imports shrank markedly to $X in 2021. Overall, imports recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2020 when imports increased by 29%. As a result, imports attained the peak of $X, and then contracted markedly in the following year.

Imports by Country

In 2021, Argentina (X tons) constituted the largest industrial monocarboxylic fatty acids supplier to Bulgaria, accounting for a 46% share of total imports. Moreover, industrial monocarboxylic fatty acids imports from Argentina exceeded the figures recorded by the second-largest supplier, Austria (X tons), fourfold. The third position in this ranking was held by Indonesia (X tons), with an 8.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Argentina was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+81.2% per year) and Indonesia (-33.3% per year).

In value terms, Argentina ($X) constituted the largest supplier of industrial monocarboxylic fatty acids to Bulgaria, comprising 43% of total imports. The second position in the ranking was taken by the Netherlands ($X), with a 10% share of total imports. It was followed by Indonesia, with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Argentina was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+21.9% per year) and Indonesia (-21.0% per year).

Import Prices by Country

The average industrial monocarboxylic fatty acids import price stood at $X per ton in 2021, rising by 64% against the previous year. Overall, the import price posted a buoyant increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+18.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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