Bulgaria: Natural Polymers Market 2024

Natural Polymers Market Size in Bulgaria

The Bulgarian natural polymers market declined sharply to $X in 2021, waning by -32.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, posted a strong increase. Over the period under review, the market attained the maximum level at $X in 2020, and then declined rapidly in the following year.

Natural Polymers Exports

Exports from Bulgaria

In 2021, overseas shipments of natural and modified natural polymers in primary forms increased by 201% to X tons, rising for the second consecutive year after four years of decline. Overall, exports showed a tangible increase. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, natural polymers exports soared to $X in 2021. Over the period under review, exports continue to indicate a strong expansion. The growth pace was the most rapid in 2013 when exports increased by 461%. Over the period under review, the exports reached the maximum at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Greece (X tons) was the main destination for natural polymers exports from Bulgaria, accounting for a 57% share of total exports. Moreover, natural polymers exports to Greece exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), fourfold. Italy (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Greece amounted to +34.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+2,104.5% per year) and Italy (+138.9% per year).

In value terms, Greece ($X) emerged as the key foreign market for natural and modified natural polymers in primary forms exports from Bulgaria, comprising 55% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 14% share of total exports. It was followed by Italy, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Greece amounted to +39.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+1,146.6% per year) and Italy (+99.1% per year).

Export Prices by Country

In 2021, the average natural polymers export price amounted to $X per ton, declining by -32.7% against the previous year. Overall, the export price, however, continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2013 when the average export price increased by 287%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Latvia ($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 Germany (+23.3%), while the prices for the other major destinations experienced more modest paces of growth.

Natural Polymers Imports

Imports into Bulgaria

In 2021, imports of natural and modified natural polymers in primary forms into Bulgaria shrank to X tons, with a decrease of -14.9% on 2020 figures. The total import volume increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 31% against the previous year. Imports peaked at X tons in 2020, and then declined in the following year.

In value terms, natural polymers imports dropped dramatically to $X in 2021. Over the period under review, imports, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of 108% against the previous year. Over the period under review, imports reached the maximum at $X in 2020, and then shrank markedly in the following year.

Imports by Country

China (X tons), Spain (X tons) and Germany (X tons) were the main suppliers of natural polymers imports to Bulgaria, together accounting for 52% of total imports. These countries were followed by the Netherlands, Austria, Canada and Croatia, which together accounted for a further 33%.

From 2012 to 2021, the biggest increases were recorded for Croatia (with a CAGR of +231.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest natural polymers suppliers to Bulgaria were Spain ($X), Germany ($X) and China ($X), with a combined 33% share of total imports. These countries were followed by Austria, Canada, the Netherlands and Croatia, which together accounted for a further 10%.

Croatia, with a CAGR of +108.9%, saw the highest growth rate of 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

In 2021, the average natural polymers import price amounted to $X per ton, dropping by -3.2% against the previous year. Overall, the import price, however, showed a buoyant expansion. The pace of growth appeared the most rapid in 2017 an increase of 123%. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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