Bulgaria: Ink Market 2024

Ink Market Size in Bulgaria

For the fourth year in a row, the Bulgarian ink market recorded growth in sales value, which increased by 23% to $X in 2021. Overall, the total consumption indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +75.1% against 2017 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Ink Production in Bulgaria

In value terms, ink production dropped to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 25%. As a result, production attained the peak level of $X, and then declined in the following year.

Ink Exports

Exports from Bulgaria

In 2021, the amount of inks (excluding printing ink) exported from Bulgaria shrank sharply to X tons, reducing by -16.7% on 2020. Over the period under review, exports, however, recorded buoyant growth. The growth pace was the most rapid in 2013 when exports increased by 170% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, ink exports soared to $X in 2021. Overall, exports, however, saw a significant increase. The growth pace was the most rapid in 2020 when exports increased by 135%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see steady growth in years to come.

Exports by Country

Slovenia (X tons), Italy (X tons) and Croatia (X tons) were the main destinations of ink exports from Bulgaria, together comprising 50% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Slovenia (with a CAGR of +259.0%), while the other leaders experienced more modest paces of growth.

In value terms, Slovenia ($X), Italy ($X) and Croatia ($X) appeared to be the largest markets for ink exported from Bulgaria worldwide, with a combined 60% share of total exports.

Slovenia, with a CAGR of +267.6%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average ink export price stood at $X per ton in 2021, growing by 40% against the previous year. In general, the export price saw a prominent expansion. The pace of growth appeared the most rapid in 2016 an increase of 105% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Croatia ($X per ton), while the average price for exports to Greece ($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 Croatia (+28.9%), while the prices for the other major destinations experienced more modest paces of growth.

Ink Imports

Imports into Bulgaria

In 2021, the amount of inks (excluding printing ink) imported into Bulgaria soared to X tons, picking up by 92% on the previous year's figure. Over the period under review, imports saw resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, ink imports soared to $X in 2021. Overall, imports posted a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Italy (X tons), Germany (X tons) and Turkey (X tons) were the main suppliers of ink imports to Bulgaria, together comprising 75% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +66.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of inks (excluding printing ink) to Bulgaria, comprising 61% of total imports. The second position in the ranking was taken by Germany ($X), with a 7.2% share of total imports. It was followed by the Netherlands, with a 6% share.

From 2012 to 2021, the average annual growth rate of value from Italy totaled +116.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+9.5% per year) and the Netherlands (+37.9% per year).

Import Prices by Country

The average ink import price stood at $X per ton in 2021, growing by 55% against the previous year. In general, import price indicated a tangible increase from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, ink import price increased by +58.4% against 2019 indices. 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 Austria ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+30.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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