Bulgaria: Oxides Of Boron Market 2024

Oxides Of Boron Market Size in Bulgaria

In 2022, after three years of decline, there was significant growth in the Bulgarian oxides of boron market, when its value increased by 28% to $X. In general, consumption, however, continues to indicate a abrupt decrease. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Oxides Of Boron Production in Bulgaria

In value terms, oxides of boron production fell rapidly to $X in 2022 estimated in export price. In general, production continues to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 47%. Oxides of boron production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

Oxides Of Boron Exports

Exports from Bulgaria

Oxides of boron exports from Bulgaria declined dramatically to X tons in 2022, which is down by -85.2% on the year before. In general, exports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 2,630%. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, oxides of boron exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate pronounced growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Iran (X tons) was the main destination for oxides of boron exports from Bulgaria, with a 73% share of total exports. Moreover, oxides of boron exports to Iran exceeded the volume sent to the second major destination, Greece (X tons), eightfold. Turkey (X tons) ranked third in terms of total exports with an 8.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Iran amounted to +5,820.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+74.9% per year) and Turkey (0.0% per year).

In value terms, Iran ($X) emerged as the key foreign market for oxides of boron, boric acids and inorganic acids exports from Bulgaria, comprising 67% of total exports. The second position in the ranking was taken by Hungary ($X), with a 9.2% share of total exports. It was followed by Greece, with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Iran stood at +1,438.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Hungary (-11.0% per year) and Greece (+69.6% per year).

Export Prices by Country

In 2022, the average oxides of boron export price amounted to $X per ton, growing by 1,564% against the previous year. In general, the export price, however, saw a abrupt contraction. The pace of growth was the most pronounced in 2017 when the average export price increased by 3,166%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to Turkey ($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 Greece (-3.0%), while the prices for the other major destinations experienced a decline.

Oxides Of Boron Imports

Imports into Bulgaria

In 2022, supplies from abroad of oxides of boron, boric acids and inorganic acids decreased by -2.7% to X tons for the first time since 2016, thus ending a five-year rising trend. Overall, imports, however, showed strong growth. The growth pace was the most rapid in 2013 when imports increased by 86%. Over the period under review, imports attained the peak figure at X tons in 2021, and then fell modestly in the following year.

In value terms, oxides of boron imports skyrocketed to $X in 2022. Over the period under review, imports, however, enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 87% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Turkey (X tons) constituted the largest oxides of boron supplier to Bulgaria, accounting for a 68% share of total imports. Moreover, oxides of boron imports from Turkey exceeded the figures recorded by the second-largest supplier, Italy (X tons), more than tenfold. Poland (X tons) ranked third in terms of total imports with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey amounted to +20.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+64.2% per year) and Poland (+3.6% per year).

In value terms, Turkey ($X) constituted the largest supplier of oxides of boron, boric acids and inorganic acids to Bulgaria, comprising 52% of total imports. The second position in the ranking was taken by Italy ($X), with a 7.6% share of total imports. It was followed by Poland, with a 3.7% share.

From 2012 to 2022, the average annual growth rate of value from Turkey amounted to +22.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+54.8% per year) and Poland (+12.0% per year).

Import Prices by Country

In 2022, the average oxides of boron import price amounted to $X per ton, rising by 65% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 136% against the previous year. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a 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 Spain ($X per ton), while the price for Serbia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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