Bulgaria: Isocyanates Market 2024

Isocyanates Market Size in Bulgaria

The Bulgarian isocyanates market contracted to $X in 2022, with a decrease of X% against the previous year. Over the period under review, consumption continues to indicate a abrupt descent. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Isocyanates Production in Bulgaria

In value terms, isocyanates production contracted to $X in 2022 estimated in export price. Overall, production continues to indicate a drastic downturn. The growth pace was the most rapid in 2017 when the production volume increased by X%. Isocyanates production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Isocyanates Exports

Exports from Bulgaria

In 2022, shipments abroad of isocyanates was finally on the rise to reach X tons after two years of decline. In general, exports, however, showed a abrupt downturn. The exports peaked at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, isocyanates exports skyrocketed to $X in 2022. Over the period under review, exports enjoyed a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Poland (X tons) was the main destination for isocyanates exports from Bulgaria, with a X% share of total exports. Moreover, isocyanates exports to Poland exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), tenfold. Germany (X kg) ranked third in terms of total exports with a X% share.

From 2015 to 2022, the average annual rate of growth in terms of volume to Poland was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Germany (X% per year).

It was followed by Germany, with a X% share.

From 2015 to 2022, the average annual rate of growth in terms of value to Poland was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Germany (X% per year).

Export Prices by Country

The average isocyanates export price stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price continues to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Germany ($X per ton) was amongst the lowest.

From 2015 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (X%).

Isocyanates Imports

Imports into Bulgaria

In 2022, approx. X tons of isocyanates were imported into Bulgaria; waning by X% compared with 2021 figures. Overall, total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 with an increase of X%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, isocyanates imports declined to $X in 2022. In general, total imports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2019 indices. The pace of growth was the most pronounced in 2017 when imports increased by X%. Imports peaked at $X in 2021, and then declined in the following year.

Imports by Country

Germany (X tons), Belgium (X tons) and Hungary (X tons) were the main suppliers of isocyanates imports to Bulgaria, together accounting for X% of total imports. Turkey, South Korea and Poland lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Hungary ($X) and Belgium ($X) were the largest isocyanates suppliers to Bulgaria, together accounting for X% of total imports. Turkey, South Korea and Poland lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Turkey, with a CAGR of X%, saw the highest growth rate of 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

The average isocyanates import price stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, import price indicated a mild increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, isocyanates import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the average import prices failed to regain momentum.

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 Poland ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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