Bulgaria: Monophenols Market 2024

Monophenols Market Size in Bulgaria

After two years of growth, the Bulgarian monophenols market decreased by -3.7% to $X in 2021. Overall, consumption, however, saw a relatively flat trend pattern. Monophenols consumption peaked at $X in 2014; however, from 2015 to 2021, consumption failed to regain momentum.

Monophenols Exports

Exports from Bulgaria

For the third consecutive year, Bulgaria recorded decline in overseas shipments of monophenols, which decreased by -22.9% to X tons in 2021. Over the period under review, exports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 898%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, monophenols exports skyrocketed to $X in 2021. In general, exports, however, enjoyed significant growth. The pace of growth appeared the most rapid in 2018 when exports increased by 517%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Greece (X kg), North Macedonia (X kg) and Turkey (X kg) were the main destinations of monophenols exports from Bulgaria, together comprising 84% of total exports. Croatia, Romania and Serbia lagged somewhat behind, together accounting for a further 15%.

From 2012 to 2021, the biggest increases were recorded for Romania (with a CAGR of +1.1%), while shipments for the other leaders experienced a decline.

In value terms, Greece ($X) remains the key foreign market for monophenols exports from Bulgaria, comprising 55% of total exports. The second position in the ranking was taken by Croatia ($X), with a 13% share of total exports. It was followed by Turkey, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Greece totaled +15.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (+112.8% per year) and Turkey (+144.7% per year).

Export Prices by Country

In 2021, the average monophenols export price amounted to $X per ton, rising by 153% against the previous year. Overall, the export price saw significant growth. The pace of growth appeared the most rapid in 2014 when the average export price increased by 277%. Over the period under review, the average export prices attained the maximum in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Serbia ($X per ton), while the average price for exports to North Macedonia ($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 Turkey (+229.8%), while the prices for the other major destinations experienced more modest paces of growth.

Monophenols Imports

Imports into Bulgaria

In 2021, overseas purchases of monophenols decreased by -30.7% to X tons for the first time since 2017, thus ending a three-year rising trend. Overall, imports recorded a slight slump. The most prominent rate of growth was recorded in 2018 with an increase of 41%. Over the period under review, imports reached the maximum at X tons in 2020, and then reduced notably in the following year.

In value terms, monophenols imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a measured expansion. The pace of growth was the most pronounced in 2014 when imports increased by 94% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, the Czech Republic (X tons) constituted the largest supplier of monophenols to Bulgaria, accounting for a 75% share of total imports. Moreover, monophenols imports from the Czech Republic exceeded the figures recorded by the second-largest supplier, France (X tons), eightfold. The third position in this ranking was held by Italy (X tons), with a 4.2% share.

From 2012 to 2021, the average annual growth rate of volume from the Czech Republic totaled +1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+45.0% per year) and Italy (+9.8% per year).

In value terms, the Czech Republic ($X), France ($X) and Denmark ($X) appeared to be the largest monophenols suppliers to Bulgaria, together accounting for 74% of total imports.

France, with a CAGR of +62.8%, recorded the highest growth rate of 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

In 2021, the average monophenols import price amounted to $X per ton, increasing by 77% against the previous year. In general, import price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 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 France ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+16.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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