Bulgaria: Lubricant Additives Market 2024

Lubricant Additives Market Size in Bulgaria

In 2021, the Bulgarian lubricant additives market decreased by -16.2% to $X, falling for the second year in a row after four years of growth. Overall, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Lubricant Additives Production in Bulgaria

In value terms, lubricant additives production fell slightly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by 18% against the previous year. Lubricant additives production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Lubricant Additives Exports

Exports from Bulgaria

In 2021, shipments abroad of prepared additives for mineral oils increased by 57% to X tons, rising for the second consecutive year after four years of decline. In general, exports, however, saw a abrupt decline. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, lubricant additives exports amounted to $X in 2021. Over the period under review, exports, however, faced a dramatic slump. The growth pace was the most rapid in 2015 with an increase of 16%. Over the period under review, the exports reached the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Uzbekistan (X tons), Romania (X tons) and Greece (X tons) were the main destinations of lubricant additives exports from Bulgaria, together comprising 79% of total exports.

From 2012 to 2021, the biggest increases were recorded for Romania (with a CAGR of +74.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Uzbekistan ($X), Greece ($X) and Romania ($X) were the largest markets for lubricant additives exported from Bulgaria worldwide, with a combined 76% share of total exports.

Among the main countries of destination, Romania, with a CAGR of +49.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average lubricant additives export price amounted to $X per ton, with a decrease of -26.8% against the previous year. Over the period under review, the export price showed a pronounced reduction. The pace of growth was the most pronounced in 2017 when the average export price increased by 35% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was North Macedonia ($X per ton), while the average price for exports to Belgium ($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 Turkey (+9.8%), while the prices for the other major destinations experienced mixed trend patterns.

Lubricant Additives Imports

Imports into Bulgaria

In 2021, supplies from abroad of prepared additives for mineral oils decreased by -22.5% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports recorded a perceptible reduction. The growth pace was the most rapid in 2018 with an increase of 20%. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, lubricant additives imports shrank to $X in 2021. In general, imports saw a perceptible contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 46%. As a result, imports reached the peak of $X. From 2020 to 2021, the growth of imports remained at a lower figure.

Imports by Country

France (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of lubricant additives imports to Bulgaria, with a combined 71% share of total imports. Poland, Belgium, Greece, Austria, Italy and the UK lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +30.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest lubricant additives suppliers to Bulgaria were France ($X), Germany ($X) and the Netherlands ($X), with a combined 71% share of total imports. These countries were followed by Belgium, Poland, Greece, Italy, Austria and the UK, which together accounted for a further 23%.

Among the main suppliers, Poland, with a CAGR of +21.0%, saw the highest growth rate of 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 2021, the average lubricant additives import price amounted to $X per ton, surging by 11% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 39% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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 the UK ($X per ton), while the price for Austria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :