Bulgaria: Marble And Travertine Market 2022

Marble And Travertine Market Size in Bulgaria

In 2021, after three years of growth, there was significant decline in the Bulgarian marble and travertine market, when its value decreased by -7.5% to $X. Over the period under review, consumption, however, showed strong growth. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Marble And Travertine Production in Bulgaria

In value terms, marble and travertine production dropped to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate prominent growth. The growth pace was the most rapid in 2013 with an increase of 81% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then fell in the following year.

Marble And Travertine Exports

Exports from Bulgaria

In 2021, overseas shipments of marble and travertine increased by 4.7% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports, however, showed a slight curtailment. The most prominent rate of growth was recorded in 2013 when exports increased by 60% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, marble and travertine exports surged to $X in 2021. Over the period under review, total exports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +8.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 67%. The exports peaked in 2021 and are expected to retain growth in the near future.

Exports by Country

China (X tons), Greece (X tons) and Romania (X tons) were the main destinations of marble and travertine exports from Bulgaria, with a combined 80% share of total exports.

From 2012 to 2021, the biggest increases were in China (with a CAGR of +36.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for marble and travertine exported from Bulgaria were China ($X), Greece ($X) and Romania ($X), together comprising 83% of total exports.

Among the main countries of destination, China, with a CAGR of +49.6%, saw the highest growth rate of 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 2021, the average marble and travertine export price amounted to $X per ton, with an increase of 32% against the previous year. In general, the export price continues to indicate strong growth. The pace of growth appeared the most rapid in 2020 an increase of 96%. The export price peaked in 2021 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was China ($X per ton), while the average price for exports to Bosnia and Herzegovina ($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 Albania (+12.0%), while the prices for the other major destinations experienced more modest paces of growth.

Marble And Travertine Imports

Imports into Bulgaria

For the sixth year in a row, Bulgaria recorded decline in overseas purchases of marble and travertine, which decreased by -5.9% to X tons in 2021. Over the period under review, imports recorded a slight setback. The pace of growth was the most pronounced in 2015 with an increase of 85% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, marble and travertine imports skyrocketed to $X in 2021. Overall, total imports indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when imports increased by 98%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, North Macedonia (X tons) constituted the largest supplier of marble and travertine to Bulgaria, with a 60% share of total imports. Moreover, marble and travertine imports from North Macedonia exceeded the figures recorded by the second-largest supplier, Greece (X tons), threefold. The third position in this ranking was taken by Turkey (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from North Macedonia amounted to +16.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (-13.5% per year) and Turkey (+0.4% per year).

In value terms, North Macedonia ($X) constituted the largest supplier of marble and travertine to Bulgaria, comprising 53% of total imports. The second position in the ranking was held by Greece ($X), with a 16% share of total imports. It was followed by Turkey, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from North Macedonia stood at +23.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (-4.0% per year) and Turkey (+4.5% per year).

Import Prices by Country

In 2021, the average marble and travertine import price amounted to $X per ton, rising by 38% against the previous year. Overall, import price indicated a strong expansion from 2012 to 2021: its price increased at an average annual rate of +7.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per ton), while the price for Greece ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Greece (+11.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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