Bulgaria: Injection-Moulding Machine Market 2024

Injection-Moulding Machine Market Size in Bulgaria

The Bulgarian injection-moulding machine market dropped markedly to $X in 2022, shrinking by -19.6% against the previous year. Over the period under review, consumption, however, showed a strong expansion. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market remained at a somewhat lower figure.

Injection-Moulding Machine Production in Bulgaria

In value terms, injection-moulding machine production rose modestly to $X in 2022 estimated in export price. Overall, the total production indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.0% against 2019 indices. The pace of growth appeared the most rapid in 2019 when the production volume increased by 18%. As a result, production attained the peak level of $X; afterwards, it flattened through to 2022.

Injection-Moulding Machine Exports

Exports from Bulgaria

In 2022, shipments abroad of injection-moulding machines for working rubber or plastics was finally on the rise to reach X units after two years of decline. Over the period under review, exports continue to indicate moderate growth. The growth pace was the most rapid in 2017 with an increase of 166%. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, injection-moulding machine exports surged to $X in 2022. In general, exports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2017 with an increase of 96% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

Exports by Country

Turkey (X units) was the main destination for injection-moulding machine exports from Bulgaria, with a 55% share of total exports. Moreover, injection-moulding machine exports to Turkey exceeded the volume sent to the second major destination, China (X units), fourfold. Serbia (X units) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Turkey amounted to +13.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-2.2% per year) and Serbia (+19.6% per year).

In value terms, Turkey ($X) remains the key foreign market for injection-moulding machines for working rubber or plastics exports from Bulgaria, comprising 79% of total exports. The second position in the ranking was held by China ($X), with a 7.3% share of total exports. It was followed by Russia, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Turkey totaled +17.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (-5.8% per year) and Russia (+8.4% per year).

Export Prices by Country

In 2022, the average injection-moulding machine export price amounted to $X per unit, surging by 55% against the previous year. Overall, the export price enjoyed a prominent increase. The pace of growth was the most pronounced in 2016 when the average export price increased by 69% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per unit), while the average price for exports to Serbia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Iran (+80.1%), while the prices for the other major destinations experienced more modest paces of growth.

Injection-Moulding Machine Imports

Imports into Bulgaria

Injection-moulding machine imports into Bulgaria fell modestly to X units in 2022, waning by -4.9% on the previous year's figure. Overall, imports, however, enjoyed a prominent increase. The growth pace was the most rapid in 2015 when imports increased by 85% against the previous year. Over the period under review, imports reached the peak figure at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, injection-moulding machine imports dropped rapidly to $X in 2022. In general, imports, however, posted a moderate expansion. The pace of growth was the most pronounced in 2013 when imports increased by 87%. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X units) constituted the largest supplier of injection-moulding machine to Bulgaria, accounting for a 55% share of total imports. Moreover, injection-moulding machine imports from Turkey exceeded the figures recorded by the second-largest supplier, Germany (X units), fourfold. China (X units) ranked third in terms of total imports with an 8% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey totaled +35.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-0.2% per year) and China (+15.3% per year).

In value terms, Turkey ($X), Germany ($X) and China ($X) were the largest injection-moulding machine suppliers to Bulgaria, with a combined 68% share of total imports. Switzerland, Indonesia, Luxembourg, Italy, Austria and Romania lagged somewhat behind, together accounting for a further 28%.

Indonesia, with a CAGR of +68.4%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average injection-moulding machine import price amounted to $X per unit, with a decrease of -19.9% against the previous year. Overall, the import price showed a deep downturn. The pace of growth was the most pronounced in 2014 an increase of 26%. As a result, import price attained the peak level of $X per unit. From 2015 to 2022, the average import prices remained at a lower figure.

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 Indonesia ($X per unit), while the price for Turkey ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+38.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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