Bulgaria: Fuse And Detonator Market 2024

Fuse And Detonator Market Size in Bulgaria

The Bulgarian fuse and detonator market fell to $X in 2021, declining by -8% against the previous year. In general, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +4.6% against 2019 indices. As a result, consumption attained the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Fuse And Detonator Production in Bulgaria

In value terms, fuse and detonator production shrank to $X in 2021 estimated in export price. Over the period under review, the total production indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +13.0% against 2019 indices. The most prominent rate of growth was recorded in 2014 with an increase of 38% against the previous year. Fuse and detonator production peaked at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Fuse And Detonator Exports

Exports from Bulgaria

In 2019, approx. X tons of safety fuses, detonating fuses and electric detonators were exported from Bulgaria; with a decrease of -42.8% compared with the previous year. Overall, exports, however, enjoyed a pronounced expansion. The most prominent rate of growth was recorded in 2018 with an increase of 714%. As a result, the exports attained the peak of X tons, and then contracted notably in the following year.

In value terms, fuse and detonator exports dropped markedly to $X in 2019. In general, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 225% against the previous year. Over the period under review, the exports hit record highs at $X in 2018, and then contracted notably in the following year.

Exports by Country

Belgium (X tons), Thailand (X tons) and North Macedonia (X tons) were the main destinations of fuse and detonator exports from Bulgaria, together comprising 87% of total exports. These countries were followed by Serbia, Bosnia and Herzegovina and Greece, which together accounted for a further 10%.

From 2012 to 2019, the biggest increases were recorded for Bosnia and Herzegovina (with a CAGR of +105.5%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, the largest markets for fuse and detonator exported from Bulgaria were Thailand ($X), North Macedonia ($X) and Serbia ($X), with a combined 52% share of total exports. Belgium, Bosnia and Herzegovina and Greece lagged somewhat behind, together accounting for a further 9.3%.

In terms of the main countries of destination, Bosnia and Herzegovina, with a CAGR of +273.8%, 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

The average fuse and detonator export price stood at $X per ton in 2019, jumping by 35% against the previous year. Overall, the export price posted a prominent expansion. The most prominent rate of growth was recorded in 2014 an increase of 208%. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2019, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was North Macedonia ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to North Macedonia (+88.6%), while the prices for the other major destinations experienced more modest paces of growth.

Fuse And Detonator Imports

Imports into Bulgaria

In 2019, the amount of safety fuses, detonating fuses and electric detonators imported into Bulgaria skyrocketed to X tons, jumping by 15% compared with 2018 figures. Over the period under review, total imports indicated a remarkable increase from 2012 to 2019: its volume increased at an average annual rate of +11.3% over the last seven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, imports decreased by -3.9% against 2017 indices. The growth pace was the most rapid in 2013 when imports increased by 33%. Over the period under review, imports attained the peak figure at X tons in 2017; however, from 2018 to 2019, imports stood at a somewhat lower figure.

In value terms, fuse and detonator imports contracted dramatically to $X in 2019. In general, imports recorded a strong increase. The pace of growth was the most pronounced in 2014 with an increase of 123%. Over the period under review, imports reached the maximum at $X in 2017; however, from 2018 to 2019, imports remained at a lower figure.

Imports by Country

Bosnia and Herzegovina (X tons), Croatia (X tons) and Ukraine (X tons) were the main suppliers of fuse and detonator imports to Bulgaria, together comprising 77% of total imports. These countries were followed by Greece, the Czech Republic, Italy and Spain, which together accounted for a further 21%.

From 2012 to 2019, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +84.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ukraine ($X) constituted the largest supplier of safety fuses, detonating fuses and electric detonators to Bulgaria, comprising 60% of total imports. The second position in the ranking was held by Bosnia and Herzegovina ($X), with an 18% share of total imports. It was followed by Croatia, with a 12% share.

From 2012 to 2019, the average annual growth rate of value from Ukraine stood at +4.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Bosnia and Herzegovina (+2.1% per year) and Croatia (+29.2% per year).

Import Prices by Country

In 2019, the average fuse and detonator import price amounted to $X per ton, with a decrease of -36% against the previous year. In general, the import price saw a pronounced decrease. The pace of growth was the most pronounced in 2014 when the average import price increased by 114% against the previous year. The import price peaked at $X per ton in 2017; however, from 2018 to 2019, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2019, amid the top importers, the country with the highest price was Ukraine ($X per ton), while the price for Greece ($X per ton) was amongst the lowest.

From 2012 to 2019, the most notable rate of growth in terms of prices was attained by Spain (+17.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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