Bulgaria: Metal Crown Cork Market 2024

Metal Crown Cork Market Size in Bulgaria

The Bulgarian metal crown cork market dropped to $X in 2022, falling by -11.1% against the previous year. Overall, consumption continues to indicate a pronounced decline. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Metal Crown Cork Production in Bulgaria

In value terms, metal crown cork production dropped modestly to $X in 2022 estimated in export price. In general, production showed a pronounced slump. The most prominent rate of growth was recorded in 2021 when the production volume increased by 4.5%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Metal Crown Cork Exports

Exports from Bulgaria

In 2022, overseas shipments of iron or steel crown corks were finally on the rise to reach X units after two years of decline. Over the period under review, exports saw a tangible increase. Over the period under review, the exports attained the maximum at X units in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

In value terms, metal crown cork exports skyrocketed to $X in 2022. In general, exports enjoyed resilient growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Greece (X units) was the main destination for metal crown cork exports from Bulgaria, accounting for a 88% share of total exports. Moreover, metal crown cork exports to Greece exceeded the volume sent to the second major destination, Armenia (X units), more than tenfold. Serbia (X units) ranked third in terms of total exports with a 3% share.

From 2012 to 2022, the average annual growth rate of volume to Greece amounted to +45.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Armenia (-3.3% per year) and Serbia (-11.5% per year).

In value terms, Greece ($X) emerged as the key foreign market for iron or steel crown corks exports from Bulgaria, comprising 88% of total exports. The second position in the ranking was taken by Romania ($X), with a 5.3% share of total exports. It was followed by Armenia, with a 3.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Greece stood at +51.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+40.8% per year) and Armenia (-2.7% per year).

Export Prices by Country

The average metal crown cork export price stood at $X per thousand units in 2022, with an increase of 7.3% against the previous year. Overall, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal crown cork export price decreased by -4.5% against 2020 indices. The most prominent rate of growth was recorded in 2020 when the average export price increased by 77% against the previous year. As a result, the export price attained the peak level of $X per thousand units. From 2021 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Croatia ($X per thousand units), while the average price for exports to Serbia ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Croatia (+24.9%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Crown Cork Imports

Imports into Bulgaria

For the third year in a row, Bulgaria recorded decline in supplies from abroad of iron or steel crown corks, which decreased by -12% to X units in 2022. Over the period under review, imports continue to indicate a pronounced descent. The most prominent rate of growth was recorded in 2015 when imports increased by 42%. Imports peaked at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, metal crown cork imports shrank to $X in 2022. Overall, imports showed a slight setback. The pace of growth was the most pronounced in 2017 with an increase of 45% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Serbia (X units), Greece (X units) and the Czech Republic (X units) were the main suppliers of metal crown cork imports to Bulgaria, with a combined 97% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Serbia (with a CAGR of +91.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Serbia ($X) constituted the largest supplier of iron or steel crown corks to Bulgaria, comprising 51% of total imports. The second position in the ranking was taken by Greece ($X), with a 25% share of total imports. It was followed by the Czech Republic, with a 19% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Serbia amounted to +55.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (+7.1% per year) and the Czech Republic (+54.4% per year).

Import Prices by Country

The average metal crown cork import price stood at $X per thousand units in 2022, increasing by 5.5% against the previous year. Overall, import price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal crown cork import price increased by +52.9% against 2019 indices. The pace of growth appeared the most rapid in 2017 when the average import price increased by 45%. As a result, import price attained the peak level of $X per thousand units; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per thousand units), while the price for Greece ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+11.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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