Bulgaria: Market for Iron or Steel Leaf-Springs and Leaves 2024

Market Size for Iron or Steel Leaf-Springs and Leaves in Bulgaria

For the fourth consecutive year, the Bulgarian iron or steel leaf-spring market recorded growth in sales value, which increased by 40% to $X in 2022. Over the period under review, the total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +8.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +82.1% against 2018 indices. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in years to come.

Exports of Iron or Steel Leaf-Springs and Leaves

Exports from Bulgaria

In 2022, iron or steel leaf-spring exports from Bulgaria shrank slightly to X tons, remaining constant against the previous year. In general, exports saw a slight reduction. The growth pace was the most rapid in 2017 with an increase of 200% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, iron or steel leaf-spring exports soared to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 116% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Ghana (X tons), Serbia (X tons) and Greece (X tons) were the main destinations of iron or steel leaf-spring exports from Bulgaria, with a combined 86% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Greece (with a CAGR of +221.9%), while the other leaders experienced more modest paces of growth.

In value terms, Serbia ($X) emerged as the key foreign market for iron or steel leaf-springs and leaves exports from Bulgaria, comprising 48% of total exports. The second position in the ranking was held by Ghana ($X), with a 15% share of total exports. It was followed by Greece, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to Serbia amounted to +67.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ghana (+3.6% per year) and Greece (+153.5% per year).

Export Prices by Country

The average iron or steel leaf-spring export price stood at $X per ton in 2022, increasing by 30% against the previous year. In general, the export price posted pronounced growth. The most prominent rate of growth was recorded in 2013 when the average export price increased by 109%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the 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 Switzerland ($X per ton), while the average price for exports to Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+15.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron or Steel Leaf-Springs and Leaves

Imports into Bulgaria

In 2022, the amount of iron or steel leaf-springs and leaves imported into Bulgaria surged to X tons, with an increase of 38% on the year before. Overall, total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, iron or steel leaf-spring imports soared to $X in 2022. Over the period under review, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +86.8% against 2016 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey (X tons), Poland (X tons) and India (X tons) were the main suppliers of iron or steel leaf-spring imports to Bulgaria, together accounting for 76% of total imports. China, Italy, Romania and Germany lagged somewhat behind, together comprising a further 21%.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +101.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iron or steel leaf-spring suppliers to Bulgaria were Poland ($X), Turkey ($X) and Germany ($X), together comprising 67% of total imports. Italy, Romania, India and China lagged somewhat behind, together comprising a further 21%.

In terms of the main suppliers, China, with a CAGR of +95.6%, saw the highest rates of growth with regard to the value of imports, 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 iron or steel leaf-spring import price amounted to $X per ton, falling by -2.7% against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. The pace of growth was the most pronounced in 2021 an increase of 28% against the previous year. As a result, import price reached the peak level of $X per ton, and then shrank modestly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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