Bulgaria: Market for Palmitic Acid, Stearic Acid, Their Salts And Esters 2024

Market Size for Palmitic Acid, Stearic Acid, Their Salts And Esters in Bulgaria

The Bulgarian market for palmitic acid, stearic acid, their salts and esters contracted to $X in 2021, which is down by -14.9% 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). Overall, consumption recorded a perceptible setback. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Exports of Palmitic Acid, Stearic Acid, Their Salts And Esters

Exports from Bulgaria

In 2021, shipments abroad of palmitic acid, stearic acid, their salts and esters decreased by -43.6% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2019 with an increase of 994%. Over the period under review, the exports of attained the peak figure at X tons in 2020, and then reduced remarkably in the following year.

In value terms, exports of palmitic acid, stearic acid, their salts and esters dropped notably to $X in 2021. Overall, exports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2019 with an increase of 951%. The exports peaked at $X in 2020, and then shrank dramatically in the following year.

Exports by Country

Iran (X tons) was the main destination for exports of palmitic acid, stearic acid, their salts and esters from Bulgaria, with a 74% share of total exports. Moreover, exports of palmitic acid, stearic acid, their salts and esters to Iran exceeded the volume sent to the second major destination, Greece (X tons), fivefold. The third position in this ranking was taken by Romania (X tons), with a 2.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Iran totaled +706.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+21.8% per year) and Romania (-8.1% per year).

In value terms, Iran ($X) remains the key foreign market for palmitic acid, stearic acid, their salts and esters exports from Bulgaria, comprising 81% of total exports. The second position in the ranking was taken by Greece ($X), with a 10% share of total exports. It was followed by Hungary, with a 1.7% share.

From 2012 to 2021, the average annual growth rate of value to Iran stood at +577.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+18.2% per year) and Hungary (+26.4% per year).

Export Prices by Country

In 2021, the average export price for palmitic acid, stearic acid, their salts and esters amounted to $X per ton, declining by -13.5% against the previous year. Over the period under review, the export price continues to indicate a slight decrease. The growth pace was the most rapid in 2015 an increase of 91% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Iran ($X per ton), while the average price for exports to Romania ($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 Romania (+2.2%), while the prices for the other major destinations experienced a decline.

Imports of Palmitic Acid, Stearic Acid, Their Salts And Esters

Imports into Bulgaria

In 2021, approx. X tons of palmitic acid, stearic acid, their salts and esters were imported into Bulgaria; reducing by -33.7% compared with 2020. Over the period under review, imports recorded a noticeable reduction. The pace of growth appeared the most rapid in 2019 with an increase of 140% against the previous year. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of palmitic acid, stearic acid, their salts and esters contracted to $X in 2021. Overall, imports recorded a slight descent. The pace of growth appeared the most rapid in 2019 when imports increased by 103% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports of failed to regain momentum.

Imports by Country

Belgium (X tons), Italy (X tons) and Germany (X tons) were the main suppliers of imports of palmitic acid, stearic acid, their salts and esters to Bulgaria, together comprising 69% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +21.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Germany ($X) and Italy ($X) appeared to be the largest palmitic acid, stearic acid, their salts and esters suppliers to Bulgaria, together comprising 58% of total imports.

Belgium, with a CAGR of +19.4%, recorded 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 2021, the average import price for palmitic acid, stearic acid, their salts and esters amounted to $X per ton, surging by 38% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average import price increased by 46%. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Czech Republic (+30.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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