Bulgaria: Lithium Battery Market 2024

Lithium Battery Market Size in Bulgaria

In 2021, after four years of growth, there was significant decline in the Bulgarian lithium battery market, when its value decreased by -5.9% to $X. In general, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2020, and then contracted in the following year.

Lithium Battery Exports

Exports from Bulgaria

Lithium battery exports from Bulgaria surged to X tons in 2021, jumping by 34% on the previous year. Overall, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 707%. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, lithium battery exports soared to $X in 2021. Over the period under review, exports showed buoyant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 1,364% against the previous year. Over the period under review, the exports hit record highs at $X in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

Exports by Country

Latvia (X tons) was the main destination for lithium battery exports from Bulgaria, accounting for a 35% share of total exports. Moreover, lithium battery exports to Latvia exceeded the volume sent to the second major destination, Romania (X tons), twofold. The third position in this ranking was held by Israel (X tons), with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Latvia amounted to +94.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+13.4% per year) and Israel (+1,201.5% per year).

In value terms, the largest markets for lithium battery exported from Bulgaria were Israel ($X), Italy ($X) and Latvia ($X), with a combined 58% share of total exports.

Israel, with a CAGR of +1,536.0%, 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 lithium battery export price stood at $X per ton in 2021, rising by 5.8% against the previous year. In general, the export price, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2015 when the average export price increased by 81%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Spain ($X per ton), while the average price for exports to Romania ($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 Israel (+25.5%), while the prices for the other major destinations experienced mixed trend patterns.

Lithium Battery Imports

Imports into Bulgaria

In 2021, approx. X tons of lithium cells ans batteries were imported into Bulgaria; picking up by 3.1% on 2020. Over the period under review, imports, however, continue to indicate a mild shrinkage. The pace of growth was the most pronounced in 2015 with an increase of 38%. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, lithium battery imports declined to $X in 2021. In general, imports saw notable growth. The pace of growth was the most pronounced in 2018 when imports increased by 54%. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest lithium battery supplier to Bulgaria, with a 42% share of total imports. Moreover, lithium battery imports from China exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. The third position in this ranking was held by Germany (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+34.5% per year) and Germany (-4.7% per year).

In value terms, the largest lithium battery suppliers to Bulgaria were China ($X), Germany ($X) and Poland ($X), together accounting for 42% of total imports. Belgium, Italy, the Netherlands, Hong Kong SAR, Slovenia, Spain and Greece lagged somewhat behind, together comprising a further 43%.

Spain, with a CAGR of +57.9%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 lithium battery import price stood at $X per ton in 2021, dropping by -8.4% against the previous year. Over the period under review, import price indicated a prominent expansion from 2012 to 2021: its price increased at an average annual rate of +5.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, lithium battery import price decreased by -35.7% against 2018 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 78%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Slovenia ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform