Bulgaria: Melamine Resins Market 2024

Melamine Resins Market Size in Bulgaria

The Bulgarian melamine resins market was finally on the rise to reach $X in 2021, after two years of decline. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market attained the peak level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Melamine Resins Production in Bulgaria

In value terms, melamine resins production contracted remarkably to $X in 2021 estimated in export price. Overall, production continues to indicate a dramatic contraction. The pace of growth appeared the most rapid in 2017 when the production volume increased by 19%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Melamine Resins Exports

Exports from Bulgaria

In 2019, overseas shipments of melamine resins in primary forms decreased by -14.5% to X tons, falling for the second consecutive year after two years of growth. In general, exports, however, saw a notable expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 325%. As a result, the exports reached the peak of X tons. From 2018 to 2019, the growth of the exports remained at a somewhat lower figure.

In value terms, melamine resins exports declined markedly to $X in 2019. Overall, exports saw a abrupt decline. The growth pace was the most rapid in 2017 when exports increased by 225%. The exports peaked at $X in 2013; however, from 2014 to 2019, the exports remained at a lower figure.

Exports by Country

Germany (X tons) was the main destination for melamine resins exports from Bulgaria, with a 94% share of total exports. Moreover, melamine resins exports to Germany exceeded the volume sent to the second major destination, Greece (X kg), more than tenfold. The third position in this ranking was held by Romania (X kg), with a 1.5% share.

From 2012 to 2019, the average annual rate of growth in terms of volume to Germany stood at +7.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (-33.3% per year) and Romania (-32.5% per year).

In value terms, Germany ($X) emerged as the key foreign market for melamine resins in primary forms exports from Bulgaria, comprising 91% of total exports. The second position in the ranking was taken by Greece ($X), with a 6.1% share of total exports. It was followed by Romania, with a 2.1% share.

From 2012 to 2019, the average annual growth rate of value to Germany amounted to +21.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (-29.3% per year) and Romania (-38.4% per year).

Export Prices by Country

In 2019, the average melamine resins export price amounted to $X per ton, with a decrease of -3.2% against the previous year. In general, the export price continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2016 when the average export price increased by 16% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2019, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2019, amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+13.8%), while the prices for the other major destinations experienced mixed trend patterns.

Melamine Resins Imports

Imports into Bulgaria

Melamine resins imports into Bulgaria soared to X tons in 2021, increasing by 17% against the previous year's figure. Overall, imports recorded a significant increase. The pace of growth was the most pronounced in 2019 when imports increased by 240%. Imports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, melamine resins imports soared to $X in 2021. In general, imports posted significant growth. The pace of growth appeared the most rapid in 2013 when imports increased by 162%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, Turkey (X tons) was the main melamine resins supplier to Bulgaria, with a 94% share of total imports. Moreover, melamine resins imports from Turkey exceeded the figures recorded by the second-largest supplier, Romania (X tons), more than tenfold.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey stood at +47.2%.

In value terms, Turkey ($X) constituted the largest supplier of melamine resins in primary forms to Bulgaria, comprising 89% of total imports. The second position in the ranking was held by Romania ($X), with a 6.2% share of total imports.

From 2012 to 2021, the average annual growth rate of value from Turkey amounted to +45.5%.

Import Prices by Country

The average melamine resins import price stood at $X per ton in 2021, jumping by 48% against the previous year. In general, the import price, however, recorded a perceptible downturn. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Romania ($X per ton), while the price for Turkey amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+3.0%).

Source: IndexBox Platform

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