Bulgaria: Particle Board Market 2024

Particle Board Market Size in Bulgaria

In 2022, the Bulgarian particle board market increased by 15% to $X, rising for the second year in a row after two years of decline. Overall, the total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +36.1% against 2020 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Particle Board Production in Bulgaria

In value terms, particle board production dropped notably to $X in 2022 estimated in export price. Overall, the total production indicated notable growth from 2012 to 2022: its value increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +54.0% against 2015 indices. The most prominent rate of growth was recorded in 2021 with an increase of 46%. As a result, production reached the peak level of $X, and then dropped rapidly in the following year.

Particle Board Exports

Exports from Bulgaria

After three years of growth, overseas shipments of particle board decreased by -16.6% to X cubic meters in 2022. Overall, exports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of 21% against the previous year. The exports peaked at X cubic meters in 2021, and then fell dramatically in the following year.

In value terms, particle board exports fell modestly to $X in 2022. Over the period under review, total exports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +86.6% against 2016 indices. The pace of growth was the most pronounced in 2021 when exports increased by 44%. As a result, the exports attained the peak of $X, leveling off in the following year.

Exports by Country

Greece (X cubic meters) was the main destination for particle board exports from Bulgaria, with a 27% share of total exports. Moreover, particle board exports to Greece exceeded the volume sent to the second major destination, Italy (X cubic meters), twofold. The third position in this ranking was taken by Algeria (X cubic meters), with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Greece stood at +8.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+17.6% per year) and Algeria (+8.7% per year).

In value terms, Greece ($X) remains the key foreign market for particle board exports from Bulgaria, comprising 29% of total exports. The second position in the ranking was taken by Italy ($X), with a 14% share of total exports. It was followed by Algeria, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Greece amounted to +13.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+18.8% per year) and Algeria (+10.5% per year).

Export Prices by Country

In 2022, the average particle board export price amounted to $X per cubic meter, increasing by 19% against the previous year. In general, export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, particle board export price increased by +56.9% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 32%. The export price peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Particle Board Imports

Imports into Bulgaria

In 2022, the amount of particle board imported into Bulgaria soared to X cubic meters, growing by 54% compared with the previous year's figure. In general, total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +61.0% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, particle board imports surged to $X in 2022. Over the period under review, total imports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +82.8% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey (X cubic meters), Romania (X cubic meters) and Hungary (X cubic meters) were the main suppliers of particle board imports to Bulgaria, with a combined 90% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hungary (with a CAGR of +30.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest particle board suppliers to Bulgaria were Turkey ($X), Romania ($X) and Hungary ($X), with a combined 83% share of total imports.

Hungary, with a CAGR of +27.4%, recorded the highest rates of growth with regard to 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

The average particle board import price stood at $X per cubic meter in 2022, reducing by -3.1% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 17%. The import price peaked at $X per cubic meter in 2014; however, from 2015 to 2022, 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 ($X per cubic meter), while the price for Turkey ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Serbia (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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