Bulgaria: Market for Polypropylene in Primary Forms 2024

Market Size for Polypropylene in Primary Forms in Bulgaria

The Bulgarian polypropylene in primary forms market declined to $X in 2022, reducing by -14.5% against the previous year. In general, consumption, however, enjoyed a resilient increase. Over the period under review, the market reached the maximum level at $X in 2021, and then contracted in the following year.

Production of Polypropylene in Primary Forms in Bulgaria

In value terms, polypropylene in primary forms production fell to $X in 2022 estimated in export price. Over the period under review, production showed a slight downturn. The pace of growth was the most pronounced in 2017 when the production volume increased by 22%. Over the period under review, production hit record highs at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Exports of Polypropylene in Primary Forms

Exports from Bulgaria

In 2022, shipments abroad of polypropylene in primary forms increased by 13% to X tons for the first time since 2019, thus ending a two-year declining trend. The total export volume increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2019 when exports increased by 44%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, polypropylene in primary forms exports stood at $X in 2022. In general, total exports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +99.0% against 2016 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 46%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

Exports by Country

Turkey (X tons) was the main destination for polypropylene in primary forms exports from Bulgaria, accounting for a 61% share of total exports. Moreover, polypropylene in primary forms exports to Turkey exceeded the volume sent to the second major destination, Serbia (X tons), fourfold. The third position in this ranking was held by Italy (X tons), with a 7.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Turkey amounted to +4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+0.9% per year) and Italy (-1.5% per year).

In value terms, Turkey ($X) remains the key foreign market for polypropylene in primary forms exports from Bulgaria, comprising 61% of total exports. The second position in the ranking was taken by Serbia ($X), with a 14% share of total exports. It was followed by Italy, with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Turkey amounted to +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+0.2% per year) and Italy (-1.3% per year).

Export Prices by Country

The average polypropylene in primary forms export price stood at $X per ton in 2022, shrinking by -8.3% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 59% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were the Czech Republic ($X per ton) and Romania ($X per ton), while the average price for exports to Greece ($X per ton) and Turkey ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+3.4%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Polypropylene in Primary Forms

Imports into Bulgaria

In 2022, approx. X tons of polypropylene in primary forms were imported into Bulgaria; waning by -4.4% against the year before. Over the period under review, imports, however, posted prominent growth. The most prominent rate of growth was recorded in 2014 when imports increased by 39% against the previous year. Imports peaked at X tons in 2021, and then fell in the following year.

In value terms, polypropylene in primary forms imports reduced to $X in 2022. Overall, imports, however, recorded a buoyant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 60% against the previous year. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

Greece (X tons), Egypt (X tons) and Romania (X tons) were the main suppliers of polypropylene in primary forms imports to Bulgaria, with a combined 64% share of total imports. The Netherlands, Saudi Arabia, Turkey, Austria, Estonia, Russia, India and Hungary lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +54.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Greece ($X), Egypt ($X) and Romania ($X) appeared to be the largest polypropylene in primary forms suppliers to Bulgaria, together comprising 61% of total imports. The Netherlands, Saudi Arabia, Austria, Turkey, Russia, Estonia, India and Hungary lagged somewhat behind, together accounting for a further 29%.

Among the main suppliers, Russia, with a CAGR of +54.8%, recorded the highest rates of growth with regard to the value of imports, 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 polypropylene in primary forms import price amounted to $X per ton, dropping by -7% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 50%. As a result, import price attained the peak level of $X per ton, and then declined in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Estonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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