Bulgaria: Prepared Binders Market 2024

Prepared Binders Market Size in Bulgaria

In 2021, the Bulgarian prepared binders market increased by 13% to $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, the total consumption indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -24.7% against 2018 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Prepared Binders Exports

Exports from Bulgaria

In 2021, overseas shipments of prepared binders for foundry moulds or cores decreased by -16% to X tons, falling for the sixth consecutive year after two years of growth. Over the period under review, exports, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of 1,684%. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, prepared binders exports fell slightly to $X in 2021. In general, exports, however, posted significant growth. The pace of growth appeared the most rapid in 2014 with an increase of 1,520% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Sudan (X tons) was the main destination for prepared binders exports from Bulgaria, with a 58% share of total exports. Moreover, prepared binders exports to Sudan exceeded the volume sent to the second major destination, Iran (X tons), fourfold. The third position in this ranking was held by Greece (X kg), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Sudan amounted to +47.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (-23.9% per year) and Greece (+27.0% per year).

In value terms, the largest markets for prepared binders exported from Bulgaria were Sudan ($X), Iran ($X) and Greece ($X), with a combined 96% share of total exports.

Sudan, with a CAGR of +60.2%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average prepared binders export price stood at $X per ton in 2021, surging by 15% against the previous year. Over the period under review, the export price enjoyed a resilient expansion. The growth pace was the most rapid in 2018 an increase of 105% against the previous year. The export price peaked in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Iran ($X per ton), while the average price for exports to the UK ($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 Iran (+45.6%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Binders Imports

Imports into Bulgaria

In 2021, overseas purchases of prepared binders for foundry moulds or cores increased by 0.1% to X tons for the first time since 2018, thus ending a two-year declining trend. Over the period under review, total imports indicated a temperate increase from 2012 to 2021: its volume increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -16.1% against 2018 indices. The most prominent rate of growth was recorded in 2017 when imports increased by 48% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, prepared binders imports surged to $X in 2021. In general, total imports indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -27.9% against 2018 indices. The most prominent rate of growth was recorded in 2017 with an increase of 51% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Italy (X tons), Poland (X tons) and France (X tons) were the main suppliers of prepared binders imports to Bulgaria, together accounting for 88% of total imports.

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 +124.2%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest prepared binders suppliers to Bulgaria were Italy ($X), France ($X) and Germany ($X), with a combined 90% share of total imports. These countries were followed by Poland, Austria and China, which together accounted for a further 9.9%.

Poland, with a CAGR of +64.8%, 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

The average prepared binders import price stood at $X per ton in 2021, increasing by 18% against the previous year. Over the period under review, the import price, however, saw a pronounced setback. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+5.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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