Bulgaria: Other Chemical Products Market 2024

Other Chemical Products Market Size in Bulgaria

The Bulgarian other chemical products market reduced modestly to $X in 2022, which is down by -2.1% against the previous year. Over the period under review, consumption continues to indicate a perceptible contraction. Other chemical products consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Other Chemical Products Production in Bulgaria

In value terms, other chemical products production shrank modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2013 when the production volume increased by 15% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Other Chemical Products Exports

Exports from Bulgaria

In 2016, overseas shipments of other chemical products decreased by -25.6% to X tons, falling for the second year in a row after three years of growth. In general, exports recorded a mild curtailment. The pace of growth appeared the most rapid in 2013 when exports increased by 46% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2016, the exports failed to regain momentum.

In value terms, other chemical products exports surged to $X in 2016. Over the period under review, exports, however, recorded a significant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 142%. Over the period under review, the exports attained the maximum in 2016 and are expected to retain growth in the immediate term.

Exports by Country

Russia (X tons) was the main destination for other chemical products exports from Bulgaria, with a 57% share of total exports. Moreover, other chemical products exports to Russia exceeded the volume sent to the second major destination, Greece (X tons), twofold. Serbia (X tons) ranked third in terms of total exports with a 3.1% share.

From 2012 to 2016, the average annual growth rate of volume to Russia totaled +41.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+41.5% per year) and Serbia (-13.1% per year).

In value terms, Russia ($X), Greece ($X) and Serbia ($X) constituted the largest markets for other chemical products exported from Bulgaria worldwide, with a combined 87% share of total exports.

Russia, with a CAGR of +119.9%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average other chemical products export price stood at $X per ton in 2016, with an increase of 66% against the previous year. In general, the export price enjoyed a significant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to North Macedonia ($X per ton) was amongst the lowest.

From 2012 to 2016, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+55.5%), while the prices for the other major destinations experienced more modest paces of growth.

Other Chemical Products Imports

Imports into Bulgaria

In 2016, other chemical products imports into Bulgaria soared to X tons, with an increase of 97% against the year before. Over the period under review, imports continue to indicate a significant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, other chemical products imports surged to $X in 2016. In general, imports, however, showed a mild shrinkage. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2016, imports failed to regain momentum.

Imports by Country

Germany (X tons), Romania (X tons) and Spain (X tons) were the main suppliers of other chemical products imports to Bulgaria, together comprising 64% of total imports.

From 2012 to 2016, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +188.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of other chemical products to Bulgaria, comprising 23% of total imports. The second position in the ranking was held by Romania ($X), with an 11% share of total imports. It was followed by China, with a 5.7% share.

From 2012 to 2016, the average annual growth rate of value from Germany amounted to -5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+108.0% per year) and China (+54.9% per year).

Import Prices by Country

The average other chemical products import price stood at $X per ton in 2016, with a decrease of -41% against the previous year. Overall, the import price faced a deep downturn. The most prominent rate of growth was recorded in 2014 a decrease of -2.3%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2016, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2016, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2016, the most notable rate of growth in terms of prices was attained by Hungary (+16.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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