Bulgaria: Market for Phthalic Anhydride, Terephthalic Acid And Its Salts 2024

Market Size for Phthalic Anhydride, Terephthalic Acid And Its Salts in Bulgaria

The Bulgarian market for phthalic anhydride, terephthalic acid and its salts contracted to $X in 2021, declining by -7.6% against the previous year. In general, consumption saw a abrupt curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 2.4% against the previous year. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Production of Phthalic Anhydride, Terephthalic Acid And Its Salts in Bulgaria

In value terms, phthalic anhydride and terephthalic acid production rose slightly to $X in 2021 estimated in export price. Overall, production showed a deep downturn. The pace of growth was the most pronounced in 2017 with an increase of 7% against the previous year. Phthalic anhydride and terephthalic acid production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Exports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Exports from Bulgaria

In 2021, the amount of phthalic anhydride, terephthalic acid and its salts exported from Bulgaria skyrocketed to X tons, picking up by 97% compared with the previous year's figure. Overall, exports, however, recorded a mild decline. The most prominent rate of growth was recorded in 2020 with an increase of 279% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, phthalic anhydride and terephthalic acid exports surged to $X in 2021. Over the period under review, exports, however, continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2020 when exports increased by 190%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Turkey (X tons) was the main destination for phthalic anhydride and terephthalic acid exports from Bulgaria, accounting for a 88% share of total exports. Moreover, phthalic anhydride and terephthalic acid exports to Turkey exceeded the volume sent to the second major destination, Algeria (X tons), more than tenfold. Egypt (X tons) ranked third in terms of total exports with a 1.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Turkey amounted to -1.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Algeria (+63.2% per year) and Egypt (+113.6% per year).

In value terms, Turkey ($X) remains the key foreign market for phthalic anhydride, terephthalic acid and its salts exports from Bulgaria, comprising 86% of total exports. The second position in the ranking was taken by Algeria ($X), with a 7.9% share of total exports. It was followed by Egypt, with a 2.3% share.

From 2012 to 2021, the average annual growth rate of value to Turkey totaled -6.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Algeria (+49.0% per year) and Egypt (+120.1% per year).

Export Prices by Country

The average export price for phthalic anhydride, terephthalic acid and its salts stood at $X per ton in 2021, with an increase of 32% against the previous year. In general, the export price, however, continues to indicate a abrupt decline. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were Romania ($X per ton) and Algeria ($X per ton), while the average price for exports to Turkey ($X per ton) and Egypt ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+3.0%), while the prices for the other major destinations experienced a decline.

Imports of Phthalic Anhydride, Terephthalic Acid And Its Salts

Imports into Bulgaria

Phthalic anhydride and terephthalic acid imports into Bulgaria fell sharply to X tons in 2021, shrinking by -59.4% compared with the previous year. Over the period under review, imports recorded a slight decrease. The pace of growth was the most pronounced in 2019 with an increase of 820%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a lower figure.

In value terms, phthalic anhydride and terephthalic acid imports declined significantly to $X in 2021. In general, imports showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2019 when imports increased by 745% against the previous year. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Romania (X tons) constituted the largest supplier of phthalic anhydride and terephthalic acid to Bulgaria, with a 52% share of total imports. Moreover, phthalic anhydride and terephthalic acid imports from Romania exceeded the figures recorded by the second-largest supplier, Austria (X tons), threefold. Turkey (X tons) ranked third in terms of total imports with a 19% share.

From 2012 to 2021, the average annual growth rate of volume from Romania stood at +1,100.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (-4.9% per year) and Turkey (+8.0% per year).

In value terms, Romania ($X) constituted the largest supplier of phthalic anhydride, terephthalic acid and its salts to Bulgaria, comprising 50% of total imports. The second position in the ranking was taken by Turkey ($X), with a 21% share of total imports. It was followed by Austria, with a 20% share.

From 2012 to 2021, the average annual growth rate of value from Romania amounted to +1,372.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+6.9% per year) and Austria (-7.8% per year).

Import Prices by Country

The average import price for phthalic anhydride, terephthalic acid and its salts stood at $X per ton in 2021, picking up by 55% against the previous year. Over the period under review, the import price, however, saw a noticeable curtailment. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from Turkey ($X per ton) and Austria ($X per ton), while the price for Russia ($X per ton) and Romania ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+22.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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