Report Update Nov 1, 2024

Bulgaria - Methanal (Formaldehyde) - Market Analysis, Forecast, Size, Trends and Insights

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Bulgaria: Formaldehyde Market 2024

Formaldehyde Market Size in Bulgaria

After two years of growth, the Bulgarian formaldehyde market decreased by -24.9% to $X in 2022. In general, consumption, however, posted significant growth. Over the period under review, the market attained the maximum level at $X in 2021, and then fell markedly in the following year.

Formaldehyde Exports

Exports from Bulgaria

In 2022, the amount of formaldehyde exported from Bulgaria soared to X tons, with an increase of 25,033% on 2021 figures. Over the period under review, exports saw a strong increase. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, formaldehyde exports skyrocketed to $X in 2022. Overall, exports saw a resilient expansion. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Greece (X tons) was the main destination for formaldehyde exports from Bulgaria, with a 98% share of total exports. It was followed by Georgia (X tons), with a 2.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Greece stood at +12.5%.

From 2012 to 2022, the average annual rate of growth in terms of value to Greece stood at +8.8%.

Export Prices by Country

In 2022, the average formaldehyde export price amounted to $X per ton, which is down by -84.7% against the previous year. Overall, the export price saw a mild reduction. The most prominent rate of growth was recorded in 2014 an increase of 125% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then shrank markedly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Georgia ($X per ton), while the average price for exports to Greece stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Albania (+3.2%), while the prices for the other major destinations experienced mixed trend patterns.

Formaldehyde Imports

Imports into Bulgaria

In 2022, after two years of growth, there was significant decline in purchases abroad of formaldehyde, when their volume decreased by -30% to X tons. Over the period under review, imports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2016 when imports increased by 804% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then fell sharply in the following year.

In value terms, formaldehyde imports reduced remarkably to $X in 2022. Overall, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 458% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then fell significantly in the following year.

Imports by Country

In 2022, Turkey (X tons) was the main supplier of formaldehyde to Bulgaria, accounting for a 95% share of total imports. It was followed by Romania (X tons), with a 2.6% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Turkey stood at +133.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+2.0% per year) and Hungary (+11.7% per year).

In value terms, Turkey ($X) constituted the largest supplier of formaldehyde to Bulgaria, comprising 92% of total imports. The second position in the ranking was held by Romania ($X), with a 3.6% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Turkey stood at +117.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+5.5% per year) and Hungary (+16.1% per year).

Import Prices by Country

The average formaldehyde import price stood at $X per ton in 2022, surging by 13% against the previous year. Overall, the import price, however, saw a perceptible curtailment. The pace of growth appeared the most rapid in 2021 when the average import price increased by 53%. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Hungary ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+3.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for formaldehyde in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, together comprising 47% of global consumption.

What are the largest producers of formaldehyde in the world?

The countries with the highest volumes of in 2021 were China, the United States and India, with a combined 47% share of global production. These countries were followed by Japan, Russia, Brazil, Indonesia, Pakistan, Mexico, Italy, the Netherlands, Hungary and Germany, which together accounted for a further 30%.

What are the leading suppliers of formaldehyde to Bulgaria?

In value terms, Turkey constituted the largest supplier of formaldehyde to Bulgaria, comprising 88% of total imports. The second position in the ranking was occupied by Romania, with an 8.4% share of total imports.

What is the average export price for formaldehyde in Bulgaria?

The average formaldehyde export price stood at $4,904 per ton in 2021, leveling off at the previous year.

What is the average import price for formaldehyde in Bulgaria?

In 2021, the average formaldehyde import price amounted to $331 per ton, with an increase of 53% against the previous year.

This report provides an in-depth analysis of the formaldehyde market in Bulgaria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 20146111 - Methanal (formaldehyde)

Country coverage:

Bulgaria

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Bulgaria
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023