Bulgaria: Market for Prepared Glues And Other Prepared Adhesives 2024

Market Size for Prepared Glues And Other Prepared Adhesives in Bulgaria

The Bulgarian market for prepared glues and other prepared adhesives skyrocketed to $X in 2021, growing by 25% against the previous year. The market value increased at an average annual rate of +1.7% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Production of Prepared Glues And Other Prepared Adhesives in Bulgaria

In value terms, production of prepared glues and other prepared adhesives fell significantly to $X in 2021 estimated in export price. Overall, production recorded a perceptible downturn. The most prominent rate of growth was recorded in 2018 when the production volume increased by 62%. Over the period under review, production of attained the peak level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Prepared Glues And Other Prepared Adhesives

Exports from Bulgaria

In 2021, overseas shipments of prepared glues and other prepared adhesives decreased by -32.3% to X tons, falling for the second year in a row after six years of growth. In general, exports, however, enjoyed a moderate increase. The most prominent rate of growth was recorded in 2018 when exports increased by 71% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of prepared glues and other prepared adhesives fell notably to $X in 2021. Over the period under review, exports, however, continue to indicate a perceptible increase. The pace of growth appeared the most rapid in 2018 with an increase of 49% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The UK (X tons), Turkey (X tons) and Romania (X tons) were the main destinations of exports of prepared glues and other prepared adhesives from Bulgaria, together accounting for 63% of total exports. Denmark, Greece, Poland, Italy and Germany lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2021, the biggest increases were recorded for Poland (with a CAGR of +91.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X), Turkey ($X) and Romania ($X) were the largest markets for prepared glues and other prepared adhesives exported from Bulgaria worldwide, with a combined 65% share of total exports. These countries were followed by Greece, Poland, Italy, Denmark and Germany, which together accounted for a further 18%.

Among the main countries of destination, Poland, with a CAGR of +85.9%, recorded the highest rates of growth with regard to 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 export price for prepared glues and other prepared adhesives amounted to $X per ton, picking up by 17% against the previous year. Over the last nine years, it increased at an average annual rate of +1.5%. The growth pace was the most rapid in 2013 an increase of 36%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Denmark ($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 Germany (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Prepared Glues And Other Prepared Adhesives

Imports into Bulgaria

In 2021, purchases abroad of prepared glues and other prepared adhesives increased by 2% to X tons, rising for the third consecutive year after three years of decline. The total import volume increased at an average annual rate of +3.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 with an increase of 22% against the previous year. Imports peaked in 2021 and are likely to see gradual growth in the immediate term.

In value terms, imports of prepared glues and other prepared adhesives surged to $X in 2021. The total import value increased at an average annual rate of +3.4% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), Greece (X tons) and Turkey (X tons) were the main suppliers of imports of prepared glues and other prepared adhesives to Bulgaria, together comprising 60% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +12.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of prepared glues and other prepared adhesives to Bulgaria, comprising 27% of total imports. The second position in the ranking was taken by Hungary ($X), with a 13% share of total imports. It was followed by Turkey, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Hungary (+5.8% per year) and Turkey (+5.4% per year).

Import Prices by Country

In 2021, the average import price for prepared glues and other prepared adhesives amounted to $X per ton, growing by 22% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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 Austria ($X per ton), while the price for Greece ($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 Czech Republic (+15.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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