Bulgaria: Market for Liquefied Petroleum Gas (LPG) 2025

Market Size for Liquefied Petroleum Gas (LPG) in Bulgaria

In 2022, the Bulgarian liquefied petroleum gas (LPG) market increased by 12% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Exports of Liquefied Petroleum Gas (LPG)

Exports from Bulgaria

In 2022, shipments abroad of liquefied petroleum gas (LPG) increased by 7.9% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, exports continue to indicate a notable expansion. The most prominent rate of growth was recorded in 2019 with an increase of 46% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, liquefied petroleum gas (LPG) exports totaled $X in 2022. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 77% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

Exports by Country

North Macedonia (X tons), Ukraine (X tons) and Serbia (X tons) were the main destinations of liquefied petroleum gas (LPG) exports from Bulgaria, together accounting for 84% 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 Ukraine (with a CAGR of +97.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for liquefied petroleum gas (LPG) exported from Bulgaria were North Macedonia ($X), Ukraine ($X) and Croatia ($X), with a combined 93% share of total exports.

Among the main countries of destination, Ukraine, with a CAGR of +97.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average liquefied petroleum gas (LPG) export price amounted to $X per ton, dropping by -6.3% against the previous year. Overall, the export price showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2021 an increase of 49%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Croatia ($X per ton), while the average price for exports to Serbia ($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 Italy (+326.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Liquefied Petroleum Gas (LPG)

Imports into Bulgaria

In 2022, purchases abroad of liquefied petroleum gas (LPG) increased by 3.2% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.8% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 19%. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, liquefied petroleum gas (LPG) imports skyrocketed to $X in 2022. In general, total imports indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.2% 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 +102.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 73% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

Russia (X tons), Romania (X tons) and Turkey (X tons) were the main suppliers of liquefied petroleum gas (LPG) imports to Bulgaria, with a combined 79% share of total imports. Egypt, Albania, Switzerland, the Netherlands, Ukraine, Kazakhstan and the Czech Republic lagged somewhat behind, together accounting for a further 13%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the Netherlands (with a CAGR of +91.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest liquefied petroleum gas (LPG) suppliers to Bulgaria were Russia ($X), Romania ($X) and Turkey ($X), together comprising 77% of total imports. Egypt, Albania, Switzerland, the Netherlands, Kazakhstan, the Czech Republic and Ukraine lagged somewhat behind, together accounting for a further 15%.

Switzerland, with a CAGR of +61.3%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average liquefied petroleum gas (LPG) import price stood at $X per ton in 2022, growing by 13% against the previous year. Over the period under review, the import price, however, continues to indicate a slight decline. The most prominent rate of growth was recorded in 2021 an increase of 69%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from the Netherlands ($X per ton) and Switzerland ($X per ton), while the price for Ukraine ($X per ton) and the Czech Republic ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+12.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform