Bulgaria: Market for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms 2024

Market Size for Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms in Bulgaria

In 2021, the Bulgarian market for polyethylene with a specific gravity of less than X, in primary forms increased by 6.7% to $X, rising for the fourth consecutive year after four years of decline. Overall, consumption saw a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Production of Polyethylene with a Specific Gravity of Less than X, in Primary Forms in Bulgaria

In value terms, production of polyethylene with a specific gravity of less than X, in primary forms rose sharply to $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the production volume increased by 67%. Over the period under review, production of attained the maximum level at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Exports from Bulgaria

For the fourth consecutive year, Bulgaria recorded growth in overseas shipments of polyethylene with a specific gravity of less than X, in primary forms, which increased by 125% to X tons in 2021. Overall, exports posted a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of polyethylene with a specific gravity of less than X, in primary forms soared to $X in 2021. In general, exports saw significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Greece (X tons) was the main destination for exports of polyethylene with a specific gravity of less than X, in primary forms from Bulgaria, accounting for a 28% share of total exports. Moreover, exports of polyethylene with a specific gravity of less than X, in primary forms to Greece exceeded the volume sent to the second major destination, Serbia (X tons), twofold. The third position in this ranking was taken by Italy (X tons), with a 7.2% share.

From 2012 to 2021, the average annual growth rate of volume to Greece totaled +36.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+46.8% per year) and Italy (+143.1% per year).

In value terms, Greece ($X) remains the key foreign market for polyethylene with a specific gravity of less than X, in primary forms exports from Bulgaria, comprising 24% of total exports. The second position in the ranking was taken by Italy ($X), with a 10% share of total exports. It was followed by Serbia, with an 8.2% share.

From 2012 to 2021, the average annual growth rate of value to Greece amounted to +30.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (+126.9% per year) and Serbia (+32.7% per year).

Export Prices by Country

The average export price for polyethylene with a specific gravity of less than X, in primary forms stood at $X per ton in 2021, rising by 59% against the previous year. Over the period under review, the export price, however, recorded a perceptible descent. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Lebanon (+12.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Polyethylene with a Specific Gravity of Less than 0.94, in Primary Forms

Imports into Bulgaria

In 2021, approx. X tons of polyethylene with a specific gravity of less than X, in primary forms were imported into Bulgaria; picking up by 11% on the previous year's figure. The total import volume increased at an average annual rate of +3.7% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 12%. Over the period under review, imports of hit record highs in 2021 and are likely to see gradual growth in the immediate term.

In value terms, imports of polyethylene with a specific gravity of less than X, in primary forms soared to $X in 2021. Over the period under review, total imports indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkey (X tons), Iran (X tons) and Romania (X tons) were the main suppliers of imports of polyethylene with a specific gravity of less than X, in primary forms to Bulgaria, together accounting for 46% of total imports. Germany, the Netherlands, Serbia, Estonia, Greece, Hungary, Qatar, Slovakia, Spain and Russia lagged somewhat behind, together comprising a further 45%.

From 2012 to 2021, the biggest increases were recorded for Estonia (with a CAGR of +150.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constituted the largest supplier of polyethylene with a specific gravity of less than X, in primary forms to Bulgaria, comprising 27% of total imports. The second position in the ranking was held by Iran ($X), with a 12% share of total imports. It was followed by Romania, with a 9.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey stood at +6.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Iran (+40.2% per year) and Romania (-4.3% per year).

Import Prices by Country

The average import price for polyethylene with a specific gravity of less than X, in primary forms stood at $X per ton in 2021, jumping by 78% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Slovakia ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Estonia (+32.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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