Bulgaria: Ethylene Polymer Bag Market 2024

Ethylene Polymer Bag Market Size in Bulgaria

In 2022, the Bulgarian ethylene polymer bag market increased by 22% to $X, rising for the third consecutive year after two years of decline. In general, consumption, however, recorded a resilient expansion. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Ethylene Polymer Bag Production in Bulgaria

In value terms, ethylene polymer bag production skyrocketed to $X in 2022 estimated in export price. In general, the total production indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +8.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +50.3% against 2020 indices. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Ethylene Polymer Bag Exports

Exports from Bulgaria

In 2022, shipments abroad of sacks and bags of polymers of ethylene increased by 3.6% to X tons for the first time since 2018, thus ending a three-year declining trend. In general, total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +5.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -3.9% against 2018 indices. The pace of growth was the most pronounced in 2015 with an increase of 16%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, ethylene polymer bag exports soared to $X in 2022. Overall, total exports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +30.5% against 2020 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons) was the main destination for ethylene polymer bag exports from Bulgaria, accounting for a 54% share of total exports. Moreover, ethylene polymer bag exports to Germany exceeded the volume sent to the second major destination, the Netherlands (X tons), fourfold. Greece (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume to Germany stood at +5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+5.8% per year) and Greece (+13.8% per year).

In value terms, Germany ($X) remains the key foreign market for sacks and bags of polymers of ethylene exports from Bulgaria, comprising 42% of total exports. The second position in the ranking was held by the Netherlands ($X), with a 15% share of total exports. It was followed by Greece, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value to Germany totaled +6.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+6.5% per year) and Greece (+8.9% per year).

Export Prices by Country

The average ethylene polymer bag export price stood at $X per ton in 2022, surging by 14% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 14%. 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 France ($X per ton), while the average price for exports to Greece ($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 the UK (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.

Ethylene Polymer Bag Imports

Imports into Bulgaria

In 2022, approx. X tons of sacks and bags of polymers of ethylene were imported into Bulgaria; increasing by 3.2% against the year before. Over the period under review, total imports indicated a perceptible increase from 2012 to 2022: its volume increased at an average annual rate of +3.2% 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 +34.7% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 29%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, ethylene polymer bag imports rose significantly to $X in 2022. Overall, total imports indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% 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 +49.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 41%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

Turkey (X tons), Germany (X tons) and Poland (X tons) were the main suppliers of ethylene polymer bag imports to Bulgaria, with a combined 55% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +24.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Turkey ($X) and Poland ($X) appeared to be the largest ethylene polymer bag suppliers to Bulgaria, with a combined 53% share of total imports.

Poland, with a CAGR of +23.7%, recorded the highest growth rate of 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 ethylene polymer bag import price stood at $X per ton in 2022, rising by 3% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 13%. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Romania ($X per ton), while the price for Greece ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Romania (+9.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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