Bulgaria: Metal Self-Locking Nut Market 2024

Metal Self-Locking Nut Market Size in Bulgaria

The Bulgarian metal self-locking nut market skyrocketed to $X in 2021, jumping by 22% against the previous year. In general, consumption, however, posted resilient growth. Over the period under review, the market reached the maximum level in 2021 and is expected to retain growth in the immediate term.

Metal Self-Locking Nut Production in Bulgaria

In value terms, metal self-locking nut production rose rapidly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a noticeable reduction. The pace of growth was the most pronounced in 2016 with an increase of 54% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Metal Self-Locking Nut Exports

Exports from Bulgaria

Metal self-locking nut exports from Bulgaria fell markedly to X tons in 2021, dropping by -20.3% compared with the previous year's figure. Overall, exports, however, saw a strong increase. The pace of growth appeared the most rapid in 2014 with an increase of 399% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, metal self-locking nut exports rose markedly to $X in 2021. In general, exports, however, recorded a remarkable increase. The pace of growth appeared the most rapid in 2017 when exports increased by 169%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Romania (X tons) was the main destination for metal self-locking nut exports from Bulgaria, accounting for a 77% share of total exports. Moreover, metal self-locking nut exports to Romania exceeded the volume sent to the second major destination, Germany (X tons), more than tenfold. The third position in this ranking was taken by Moldova (X tons), with a 2.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Romania amounted to +95.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-20.1% per year) and Moldova (+28.1% per year).

In value terms, Romania ($X) remains the key foreign market for iron or steel nuts (including self-locking nuts) exports from Bulgaria, comprising 39% of total exports. The second position in the ranking was taken by China ($X), with an 11% share of total exports. It was followed by Germany, with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Romania amounted to +89.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+116.7% per year) and Germany (-12.8% per year).

Export Prices by Country

In 2021, the average metal self-locking nut export price amounted to $X per ton, surging by 40% against the previous year. Over the period under review, the export price, however, saw a perceptible decrease. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Romania ($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 Germany (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Self-Locking Nut Imports

Imports into Bulgaria

In 2021, overseas purchases of iron or steel nuts (including self-locking nuts) decreased by -13.2% to X tons, falling for the second consecutive year after four years of growth. In general, imports, however, enjoyed a measured expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 70%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, metal self-locking nut imports soared to $X in 2021. Overall, imports, however, recorded a buoyant expansion. The pace of growth was the most pronounced in 2014 when imports increased by 40% against the previous year. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the immediate term.

Imports by Country

China (X tons), Germany (X tons) and Turkey (X tons) were the main suppliers of metal self-locking nut imports to Bulgaria, together comprising 82% of total imports. Austria, Italy, the Czech Republic and Poland lagged somewhat behind, together comprising a further 9.6%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +30.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of iron or steel nuts (including self-locking nuts) to Bulgaria, comprising 55% of total imports. The second position in the ranking was taken by China ($X), with a 26% share of total imports. It was followed by Italy, with a 2.5% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at +29.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+11.2% per year) and Italy (+4.9% per year).

Import Prices by Country

The average metal self-locking nut import price stood at $X per ton in 2021, increasing by 57% against the previous year. In general, import price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +6.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, metal self-locking nut import price increased by +119.3% 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 Germany ($X per ton), while the price for China ($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 (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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