Bulgaria: Reclaimed Rubber Market 2024

Reclaimed Rubber Market Size in Bulgaria

The Bulgarian reclaimed rubber market soared to $X in 2021, picking up by 39% against the previous year. Overall, consumption recorded a resilient increase. As a result, consumption attained the peak level of $X; afterwards, it flattened through to 2021.

Reclaimed Rubber Production in Bulgaria

In value terms, reclaimed rubber production surged to $X in 2021 estimated in export price. In general, production continues to indicate a resilient increase. The growth pace was the most rapid in 2020 when the production volume increased by 32% against the previous year. Reclaimed rubber production peaked in 2021 and is likely to see steady growth in years to come.

Reclaimed Rubber Exports

Exports from Bulgaria

In 2021, the amount of reclaimed rubber exported from Bulgaria skyrocketed to X tons, rising by 136% against the previous year's figure. Overall, exports, however, saw a deep setback. The pace of growth was the most pronounced in 2015 when exports increased by 347%. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, reclaimed rubber exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a deep downturn. The growth pace was the most rapid in 2017 with an increase of 286% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Romania (X tons), Albania (X tons) and North Macedonia (X tons) were the main destinations of reclaimed rubber exports from Bulgaria.

From 2012 to 2021, the biggest increases were recorded for Romania (with a CAGR of +5.0%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Romania ($X), North Macedonia ($X) and Albania ($X) were the largest markets for reclaimed rubber exported from Bulgaria worldwide, together accounting for 99.9% of total exports.

In terms of the main countries of destination, Romania, with a CAGR of +3.5%, 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 mixed trend patterns.

Export Prices by Country

In 2021, the average reclaimed rubber export price amounted to $X per ton, rising by 17% against the previous year. In general, the export price, however, continues to indicate a mild reduction. The most prominent rate of growth was recorded in 2020 an increase of 79% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was North Macedonia ($X per ton), while the average price for exports to Albania ($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 France (+96.9%), while the prices for the other major destinations experienced mixed trend patterns.

Reclaimed Rubber Imports

Imports into Bulgaria

In 2021, after two years of decline, there was significant growth in overseas purchases of reclaimed rubber, when their volume increased by 68% to X tons. Overall, imports, however, continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2018 with an increase of 116%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, reclaimed rubber imports soared to $X in 2021. In general, imports, however, showed a deep contraction. The most prominent rate of growth was recorded in 2018 with an increase of 181% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Ukraine (X tons) constituted the largest supplier of reclaimed rubber to Bulgaria, accounting for a 74% share of total imports. Moreover, reclaimed rubber imports from Ukraine exceeded the figures recorded by the second-largest supplier, Russia (X tons), eightfold. China (X tons) ranked third in terms of total imports with a 5.9% share.

From 2012 to 2021, the average annual growth rate of volume from Ukraine stood at +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+7.9% per year) and China (-32.2% per year).

In value terms, Ukraine ($X) constituted the largest supplier of reclaimed rubber to Bulgaria, comprising 70% of total imports. The second position in the ranking was taken by Russia ($X), with a 9.1% share of total imports. It was followed by Turkey, with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value from Ukraine amounted to +5.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+5.4% per year) and Turkey (+56.7% per year).

Import Prices by Country

In 2021, the average reclaimed rubber import price amounted to $X per ton, reducing by -27.2% against the previous year. Over the period under review, the import price continues to indicate a perceptible curtailment. The growth pace was the most rapid in 2017 an increase of 57%. The import price peaked at $X per ton in 2018; however, from 2019 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 Germany ($X per ton), while the price for China ($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 (+7.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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