Bulgaria: Metal-Reinforced Rubber Hose Market 2024

Metal-Reinforced Rubber Hose Market Size in Bulgaria

In 2022, the Bulgarian metal-reinforced rubber hose market increased by 44% to $X, rising for the second year in a row after two years of decline. Overall, consumption recorded a buoyant increase. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Metal-Reinforced Rubber Hose Production in Bulgaria

In value terms, metal-reinforced rubber hose production plummeted to $X in 2022 estimated in export price. Overall, production showed a deep reduction. The pace of growth appeared the most rapid in 2017 when the production volume increased by 138%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Metal-Reinforced Rubber Hose Exports

Exports from Bulgaria

In 2022, the amount of rubber hose reinforced with metal exported from Bulgaria reduced rapidly to X tons, which is down by -52.4% against the previous year. In general, exports recorded a deep contraction. The growth pace was the most rapid in 2020 with an increase of 25%. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, metal-reinforced rubber hose exports dropped remarkably to $X in 2022. Over the period under review, exports saw a abrupt descent. The pace of growth appeared the most rapid in 2020 when exports increased by 34% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Spain (X tons) was the main destination for metal-reinforced rubber hose exports from Bulgaria, with a 60% share of total exports. Moreover, metal-reinforced rubber hose exports to Spain exceeded the volume sent to the second major destination, Iran (X tons), threefold. North Macedonia (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2022, the average annual growth rate of volume to Spain totaled -19.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+40.4% per year) and North Macedonia (+20.2% per year).

In value terms, Spain ($X) remains the key foreign market for rubber hose reinforced with metal exports from Bulgaria, comprising 56% of total exports. The second position in the ranking was held by North Macedonia ($X), with a 16% share of total exports. It was followed by Georgia, with a 14% share.

From 2012 to 2022, the average annual growth rate of value to Spain amounted to -22.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (+19.4% per year) and Georgia (+168.8% per year).

Export Prices by Country

The average metal-reinforced rubber hose export price stood at $X per ton in 2022, surging by 12% against the previous year. In general, the export price, however, showed a perceptible contraction. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Georgia ($X per ton), while the average price for exports to Iran ($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 Georgia (+20.5%), while the prices for the other major destinations experienced a decline.

Metal-Reinforced Rubber Hose Imports

Imports into Bulgaria

For the third year in a row, Bulgaria recorded growth in purchases abroad of rubber hose reinforced with metal, which increased by 12% to X tons in 2022. The total import volume increased at an average annual rate of +4.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 when imports increased by 24% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, metal-reinforced rubber hose imports skyrocketed to $X in 2022. In general, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +31.8% against 2018 indices. The growth pace was the most rapid in 2018 when imports increased by 28% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

North Macedonia (X tons), Italy (X tons) and the Czech Republic (X tons) were the main suppliers of metal-reinforced rubber hose imports to Bulgaria, with a combined 67% share of total imports. China, Poland, Germany, Spain and Turkey lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +14.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest metal-reinforced rubber hose suppliers to Bulgaria were Italy ($X), North Macedonia ($X) and Poland ($X), with a combined 60% share of total imports.

In terms of the main suppliers, Poland, with a CAGR of +23.0%, recorded the highest rates of growth with regard to 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

The average metal-reinforced rubber hose import price stood at $X per ton in 2022, rising by 12% against the previous year. Over the last decade, it increased at an average annual rate of +1.2%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: 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 2022, the most notable rate of growth in terms of prices was attained by Poland (+7.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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