Bulgaria: Market for Reaction Initiators, Reaction Accelerators And Catalytic Preparations 2024

Market Size for Reaction Initiators, Reaction Accelerators And Catalytic Preparations in Bulgaria

The Bulgarian reaction initiators and accelerators market skyrocketed to $X in 2022, with an increase of 78% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a significant increase. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Exports of Reaction Initiators, Reaction Accelerators And Catalytic Preparations

Exports from Bulgaria

In 2022, the amount of reaction initiators, reaction accelerators and catalytic preparations exported from Bulgaria skyrocketed to X tons, growing by 29% against 2021. Overall, exports, however, saw a deep contraction. The growth pace was the most rapid in 2021 with an increase of 688%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, reaction initiators and accelerators exports surged to $X in 2022. In general, exports, however, recorded a dramatic contraction. The pace of growth appeared the most rapid in 2019 with an increase of 195%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Greece (X tons), Iran (X tons) and Turkey (X tons) were the main destinations of reaction initiators and accelerators exports from Bulgaria, with a combined 88% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Iran (with a CAGR of +744.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Iran ($X) emerged as the key foreign market for reaction initiators, reaction accelerators and catalytic preparations exports from Bulgaria, comprising 73% of total exports. The second position in the ranking was held by Turkey ($X), with a 15% share of total exports. It was followed by Greece, with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Iran stood at +695.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (+29.2% per year) and Greece (-7.2% per year).

Export Prices by Country

In 2022, the average reaction initiators and accelerators export price amounted to $X per ton, growing by 43% against the previous year. Over the period under review, the export price, however, showed a abrupt shrinkage. The pace of growth was the most pronounced in 2020 when the average export price increased by 260%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Iran ($X per ton), while the average price for exports to Greece ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Austria (+36.4%), while the prices for the other major destinations experienced a decline.

Imports of Reaction Initiators, Reaction Accelerators And Catalytic Preparations

Imports into Bulgaria

For the third consecutive year, Bulgaria recorded growth in purchases abroad of reaction initiators, reaction accelerators and catalytic preparations, which increased by 66% to X tons in 2022. Overall, imports showed a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, reaction initiators and accelerators imports soared to $X in 2022. Over the period under review, imports posted buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Germany (X tons) was the main supplier of reaction initiators and accelerators to Bulgaria, accounting for a 90% share of total imports. Moreover, reaction initiators and accelerators imports from Germany exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tons), more than tenfold. The third position in this ranking was taken by Italy (X tons), with a 2.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany stood at +33.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+37.0% per year) and Italy (+47.0% per year).

In value terms, Germany ($X) constituted the largest supplier of reaction initiators, reaction accelerators and catalytic preparations to Bulgaria, comprising 87% of total imports. The second position in the ranking was taken by Italy ($X), with a 4.9% share of total imports. It was followed by Denmark, with a 2% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +26.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+56.0% per year) and Denmark (-15.3% per year).

Import Prices by Country

In 2022, the average reaction initiators and accelerators import price amounted to $X per ton, increasing by 12% against the previous year. In general, the import price, however, recorded a abrupt curtailment. The growth pace was the most rapid in 2015 an increase of 18%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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