Bulgaria: Polishes For Coachwork Market 2024

Polishes For Coachwork Market Size in Bulgaria

In 2022, the Bulgarian polishes for coachwork market decreased by -8.3% to $X, falling for the second consecutive year after two years of growth. In general, consumption, however, posted a resilient expansion. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Polishes For Coachwork Exports

Exports from Bulgaria

Polishes for coachwork exports from Bulgaria rose sharply to X tons in 2022, growing by 12% against 2021. Over the period under review, exports recorded moderate growth. The pace of growth was the most pronounced in 2021 when exports increased by 76% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to continue growth in the near future.

In value terms, polishes for coachwork exports rose to $X in 2022. Overall, exports, however, faced a abrupt slump. The pace of growth was the most pronounced in 2021 with an increase of 54%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Romania (X tons) was the main destination for polishes for coachwork exports from Bulgaria, with a 37% share of total exports. Moreover, polishes for coachwork exports to Romania exceeded the volume sent to the second major destination, Ukraine (X tons), threefold. The third position in this ranking was taken by Serbia (X tons), with an 8.4% share.

From 2012 to 2022, the average annual growth rate of volume to Romania stood at +57.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (+491.8% per year) and Serbia (+14.2% per year).

In value terms, Romania ($X) remains the key foreign market for polishes for coachwork exports from Bulgaria, comprising 48% of total exports. The second position in the ranking was taken by the United States ($X), with a 6.1% share of total exports. It was followed by Serbia, with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Romania totaled +59.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+13.3% per year) and Serbia (+15.1% per year).

Export Prices by Country

The average polishes for coachwork export price stood at $X per ton in 2022, declining by -7.8% against the previous year. Over the period under review, the export price faced a abrupt decline. The most prominent rate of growth was recorded in 2019 when the average export price decreased by -2.8% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Albania ($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 Croatia (+5.9%), while the prices for the other major destinations experienced more modest paces of growth.

Polishes For Coachwork Imports

Imports into Bulgaria

In 2022, overseas purchases of polishes for coachwork increased by 2.4% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, imports saw a buoyant increase. The most prominent rate of growth was recorded in 2015 when imports increased by 30% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, polishes for coachwork imports expanded remarkably to $X in 2022. Overall, imports posted a prominent increase. The most prominent rate of growth was recorded in 2015 when imports increased by 62% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in years to come.

Imports by Country

Turkey (X tons), Italy (X tons) and Israel (X tons) were the main suppliers of polishes for coachwork imports to Bulgaria, together comprising 47% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Israel (with a CAGR of +16.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest polishes for coachwork suppliers to Bulgaria were Poland ($X), Germany ($X) and Turkey ($X), with a combined 47% share of total imports. Israel, Italy, the Netherlands and China lagged somewhat behind, together accounting for a further 31%.

The Netherlands, with a CAGR of +25.8%, 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 2022, the average polishes for coachwork import price amounted to $X per ton, increasing by 5.2% against the previous year. Over the last decade, it increased at an average annual rate of +4.2%. The most prominent rate of growth was recorded in 2020 an increase of 34%. The import price peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for China ($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 (+12.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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