Bulgaria: Non-Rolled Bitumen Products Market 2024

Non-Rolled Bitumen Products Market Size in Bulgaria

The Bulgarian non-rolled bitumen products market declined to $X in 2022, shrinking by -10.5% against the previous year. Overall, the total consumption indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -24.4% against 2018 indices. Non-rolled bitumen products consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Non-Rolled Bitumen Products Production in Bulgaria

In value terms, non-rolled bitumen products production dropped modestly to $X in 2022 estimated in export price. Over the period under review, production, however, saw strong growth. The pace of growth was the most pronounced in 2017 with an increase of 39% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Non-Rolled Bitumen Products Exports

Exports from Bulgaria

In 2022, shipments abroad of non-rolled bitumen products decreased by -89.5% to X tons, falling for the fifth consecutive year after six years of growth. Overall, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2014 when exports increased by 4,917% against the previous year. The exports peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, non-rolled bitumen products exports shrank dramatically to $X in 2022. In general, exports, however, recorded a resilient increase. The pace of growth was the most pronounced in 2014 when exports increased by 4,604% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Serbia (X tons) was the main destination for non-rolled bitumen products exports from Bulgaria, accounting for a 65% share of total exports. Moreover, non-rolled bitumen products exports to Serbia exceeded the volume sent to the second major destination, Turkey (X tons), threefold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Serbia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+74.2% per year) and Greece (-28.2% per year).

In value terms, the largest markets for non-rolled bitumen products exported from Bulgaria were Serbia ($X), Turkey ($X) and Greece ($X), together comprising 89% of total exports.

Turkey, with a CAGR of +60.5%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average non-rolled bitumen products export price amounted to $X per ton, rising by 73% against the previous year. Over the period under review, the export price, however, saw a deep slump. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Greece ($X per ton), while the average price for exports to Serbia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Croatia (+7.7%), while the prices for the other major destinations experienced mixed trend patterns.

Non-Rolled Bitumen Products Imports

Imports into Bulgaria

In 2022, after two years of growth, there was significant decline in purchases abroad of non-rolled bitumen products, when their volume decreased by -34.3% to X tons. Overall, imports, however, saw a perceptible expansion. The pace of growth appeared the most rapid in 2015 when imports increased by 164%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, non-rolled bitumen products imports fell to $X in 2022. Over the period under review, imports, however, continue to indicate a temperate increase. The growth pace was the most rapid in 2015 when imports increased by 101%. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Turkey (X tons), Russia (X tons) and Lithuania (X tons) were the main suppliers of non-rolled bitumen products imports to Bulgaria, together comprising 75% of total imports. Poland, Italy, Slovakia and Greece lagged somewhat behind, together comprising a further 24%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovakia (with a CAGR of +28.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest non-rolled bitumen products suppliers to Bulgaria were Turkey ($X), Russia ($X) and Poland ($X), together accounting for 71% of total imports. Lithuania, Italy, Slovakia and Greece lagged somewhat behind, together accounting for a further 26%.

Slovakia, with a CAGR of +33.2%, saw the highest rates of growth with regard to 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 2022, the average non-rolled bitumen products import price amounted to $X per ton, picking up by 43% against the previous year. In general, the import price, however, saw a mild setback. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Greece ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Slovakia (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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