Bulgaria: Steel Stranded Wire Market 2025

Steel Stranded Wire Market Size in Bulgaria

The Bulgarian steel stranded wire market rose slightly to $X in 2022, growing by 4.4% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Steel Stranded Wire Production in Bulgaria

In value terms, steel stranded wire production fell sharply to $X in 2022 estimated in export price. In general, production, however, continues to indicate a abrupt shrinkage. The growth pace was the most rapid in 2018 with an increase of 64% against the previous year. Steel stranded wire production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Steel Stranded Wire Exports

Exports from Bulgaria

In 2022, exports of iron or steel stranded wire, ropes and cables from Bulgaria reduced to X tons, remaining stable against 2021 figures. Over the period under review, exports showed a abrupt downturn. The most prominent rate of growth was recorded in 2014 when exports increased by 65% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, steel stranded wire exports contracted to $X in 2022. Overall, exports, however, recorded a notable expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 123%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Hungary (X tons), Serbia (X tons) and Turkey (X tons) were the main destinations of steel stranded wire exports from Bulgaria, together accounting for 45% 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 Hungary (with a CAGR of +99.1%), while the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Hungary ($X) and Serbia ($X) were the largest markets for steel stranded wire exported from Bulgaria worldwide, together comprising 38% of total exports.

Hungary, with a CAGR of +94.1%, recorded the highest rates of growth with regard to the value of exports, among 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 steel stranded wire export price stood at $X per ton in 2022, with a decrease of -5.2% against the previous year. Overall, the export price, however, showed a remarkable increase. The growth pace was the most rapid in 2017 an increase of 44%. The export price peaked at $X per ton in 2021, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Hungary ($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 Romania (+12.4%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Stranded Wire Imports

Imports into Bulgaria

Steel stranded wire imports into Bulgaria contracted to X tons in 2022, approximately equating 2021 figures. Over the period under review, imports recorded a pronounced curtailment. The growth pace was the most rapid in 2020 when imports increased by 42%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, steel stranded wire imports stood at $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 33%. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of steel stranded wire to Bulgaria, with a 47% share of total imports. Moreover, steel stranded wire imports from Turkey exceeded the figures recorded by the second-largest supplier, Russia (X tons), fourfold. The third position in this ranking was held by Ukraine (X tons), with an 8.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey stood at +36.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (-7.1% per year) and Ukraine (-4.3% per year).

In value terms, Turkey ($X) constituted the largest supplier of iron or steel stranded wire, ropes and cables to Bulgaria, comprising 34% of total imports. The second position in the ranking was held by Russia ($X), with a 13% share of total imports. It was followed by Ukraine, with a 6.8% share.

From 2012 to 2022, the average annual growth rate of value from Turkey amounted to +28.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (-3.0% per year) and Ukraine (+1.3% per year).

Import Prices by Country

In 2022, the average steel stranded wire import price amounted to $X per ton, with an increase of 3.8% against the previous year. Over the period under review, import price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, steel stranded wire import price increased by +48.6% against 2020 indices. The pace of growth was the most pronounced in 2021 when the average import price increased by 43%. The import price peaked in 2022 and is expected to retain growth in years to come.

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 Germany ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+22.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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