Bulgaria: Market for Pigments, Opacifiers And Colours For Ceramics, Enamelling Or Glass 2024

Market Size for Pigments, Opacifiers And Colours For Ceramics, Enamelling Or Glass in Bulgaria

In 2022, after four years of growth, there was significant decline in the Bulgarian pigments, opacifiers and colours market, when its value decreased by -40.1% to $X. Over the period under review, consumption saw a perceptible contraction. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Exports of Pigments, Opacifiers And Colours For Ceramics, Enamelling Or Glass

Exports from Bulgaria

In 2022, overseas shipments of pigments, opacifiers and colours for ceramics, enamelling or glass increased by 118% to X tons, rising for the second consecutive year after two years of decline. Overall, exports showed significant growth. The most prominent rate of growth was recorded in 2017 with an increase of 11,489% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, pigments, opacifiers and colours exports surged to $X in 2022. In general, exports showed significant growth. The pace of growth appeared the most rapid in 2017 with an increase of 1,995% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Iran (X tons) was the main destination for pigments, opacifiers and colours exports from Bulgaria, with a 60% share of total exports. Moreover, pigments, opacifiers and colours exports to Iran exceeded the volume sent to the second major destination, Armenia (X tons), threefold. The third position in this ranking was taken by Turkey (X tons), with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Iran amounted to +90.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Armenia (-0.8% per year) and Turkey (+47.3% per year).

In value terms, Iran ($X) remains the key foreign market for pigments, opacifiers and colours for ceramics, enamelling or glass exports from Bulgaria, comprising 67% of total exports. The second position in the ranking was held by Turkey ($X), with a 22% share of total exports. It was followed by Armenia, with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Iran amounted to +72.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+39.4% per year) and Armenia (+12.1% per year).

Export Prices by Country

In 2022, the average pigments, opacifiers and colours export price amounted to $X per ton, which is down by -2.4% against the previous year. Over the period under review, the export price showed a pronounced reduction. The pace of growth appeared the most rapid in 2015 when the average export price increased by 193%. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Armenia ($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 Armenia (+13.0%), while the prices for the other major destinations experienced a decline.

Imports of Pigments, Opacifiers And Colours For Ceramics, Enamelling Or Glass

Imports into Bulgaria

In 2022, after two years of growth, there was decline in supplies from abroad of pigments, opacifiers and colours for ceramics, enamelling or glass, when their volume decreased by -3.7% to X tons. Over the period under review, imports, however, showed a mild increase. The most prominent rate of growth was recorded in 2014 when imports increased by 81%. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, pigments, opacifiers and colours imports fell significantly to $X in 2022. In general, total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 78% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of pigments, opacifiers and colours to Bulgaria, with a 73% share of total imports. Moreover, pigments, opacifiers and colours imports from Spain exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), eightfold. Germany (X tons) ranked third in terms of total imports with a 5.8% share.

From 2012 to 2022, the average annual growth rate of volume from Spain stood at +3.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+36.8% per year) and Germany (+0.7% per year).

In value terms, the largest pigments, opacifiers and colours suppliers to Bulgaria were the Netherlands ($X), Spain ($X) and Italy ($X), with a combined 85% share of total imports.

The Netherlands, with a CAGR of +48.0%, saw the highest growth rate of 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

The average pigments, opacifiers and colours import price stood at $X per ton in 2022, which is down by -16.8% against the previous year. Over the period under review, import price indicated slight growth from 2012 to 2022: its price increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, pigments, opacifiers and colours import price decreased by -10.2% against 2019 indices. The growth pace was the most rapid in 2017 an increase of 56% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 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 the Netherlands ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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