Bulgaria: Plastic Reservoir Market 2024

Plastic Reservoir Market Size in Bulgaria

For the third year in a row, the Bulgarian plastic reservoir market recorded decline in sales value, which decreased by -12.5% to $X in 2022. Overall, consumption continues to indicate a abrupt contraction. Plastic reservoir consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Plastic Reservoir Production in Bulgaria

In value terms, plastic reservoir production shrank notably to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate strong growth. The most prominent rate of growth was recorded in 2021 with an increase of 101% against the previous year. As a result, production attained the peak level of $X, and then dropped rapidly in the following year.

Plastic Reservoir Exports

Exports from Bulgaria

In 2022, shipments abroad of plastic reservoirs, tanks and vats increased by 2% to X tons, rising for the second year in a row after three years of decline. In general, exports showed a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 714% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, plastic reservoir exports reached $X in 2022. Over the period under review, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 1,166% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Spain (X tons) was the main destination for plastic reservoir exports from Bulgaria, with a 60% share of total exports. Moreover, plastic reservoir exports to Spain exceeded the volume sent to the second major destination, Romania (X tons), threefold. Greece (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2022, the average annual growth rate of volume to Spain totaled +1,109.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+62.2% per year) and Greece (+10.4% per year).

In value terms, Spain ($X) remains the key foreign market for plastic reservoirs, tanks and vats exports from Bulgaria, comprising 67% of total exports. The second position in the ranking was held by Romania ($X), with an 18% share of total exports. It was followed by Greece, with a 9.4% share.

From 2012 to 2022, the average annual growth rate of value to Spain stood at +1,552.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+51.9% per year) and Greece (+13.5% per year).

Export Prices by Country

The average plastic reservoir export price stood at $X per ton in 2022, approximately mirroring the previous year. Over the period under review, export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plastic reservoir export price increased by +60.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when the average export price increased by 62%. As a result, the export price reached the peak level of $X per ton, leveling off in the following year.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to North Macedonia ($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 Spain (+36.6%), while the prices for the other major destinations experienced mixed trend patterns.

Plastic Reservoir Imports

Imports into Bulgaria

After two years of growth, purchases abroad of plastic reservoirs, tanks and vats decreased by -3.4% to X tons in 2022. In general, imports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2021 when imports increased by 98%. As a result, imports attained the peak of X tons, and then shrank modestly in the following year.

In value terms, plastic reservoir imports dropped to $X in 2022. Over the period under review, imports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2021 when imports increased by 145% against the previous year. As a result, imports attained the peak of $X, and then contracted in the following year.

Imports by Country

Turkey (X tons), Greece (X tons) and Italy (X tons) were the main suppliers of plastic reservoir imports to Bulgaria, with a combined 75% share of total imports. Slovenia, Romania, Austria, Poland and Germany lagged somewhat behind, together accounting for a further 18%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovenia (with a CAGR of +34.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest plastic reservoir suppliers to Bulgaria were Turkey ($X), Greece ($X) and Slovenia ($X), with a combined 69% share of total imports.

Slovenia, with a CAGR of +31.2%, saw 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

In 2022, the average plastic reservoir import price amounted to $X per ton, waning by -11.5% against the previous year. In general, the import price saw a deep reduction. The most prominent rate of growth was recorded in 2016 when the average import price increased by 24% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Slovenia ($X per ton), while the price for Greece ($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 (+3.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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