Bulgaria: Safety Glass Market 2024

Safety Glass Market Size in Bulgaria

The Bulgarian safety glass market surged to $X in 2022, growing by 15% against the previous year. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market failed to regain momentum.

Safety Glass Production in Bulgaria

In value terms, safety glass production expanded modestly to $X in 2022 estimated in export price. Overall, production recorded a strong increase. The most prominent rate of growth was recorded in 2019 with an increase of 26%. Safety glass production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Safety Glass Exports

Exports from Bulgaria

In 2022, overseas shipments of safety glass increased by 2.2% to X square meters, rising for the third year in a row after three years of decline. Overall, total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +6.0% 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 +20.4% against 2019 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 21% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, safety glass exports surged to $X in 2022. Over the period under review, total exports indicated resilient growth from 2012 to 2022: its value increased at an average annual rate of +9.0% 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 +59.7% against 2019 indices. The pace of growth appeared the most rapid in 2013 with an increase of 23% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

Exports by Country

Turkey (X square meters), Romania (X square meters) and Germany (X square meters) were the main destinations of safety glass exports from Bulgaria, with a combined 53% share of total exports. Italy, Poland, Israel, Hungary, Slovakia and Greece lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the biggest increases were recorded for Israel (with a CAGR of +116.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) remains the key foreign market for safety glass exports from Bulgaria, comprising 42% of total exports. The second position in the ranking was taken by Romania ($X), with a 17% share of total exports. It was followed by Germany, with a 12% share.

From 2012 to 2022, the average annual growth rate of value to Turkey amounted to +31.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (-0.3% per year) and Germany (+0.8% per year).

Export Prices by Country

The average safety glass export price stood at $X per square meter in 2022, rising by 17% against the previous year. Over the last decade, it increased at an average annual rate of +2.8%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Turkey ($X per square meter), while the average price for exports to Hungary ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkey (+14.7%), while the prices for the other major destinations experienced more modest paces of growth.

Safety Glass Imports

Imports into Bulgaria

In 2022, approx. X square meters of safety glass were imported into Bulgaria; with an increase of 2% against 2021 figures. Overall, imports saw a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of 72% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, safety glass imports skyrocketed to $X in 2022. In general, total imports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of +4.5% 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 +52.2% against 2020 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 40% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Turkey (X square meters) constituted the largest supplier of safety glass to Bulgaria, with a 43% share of total imports. Moreover, safety glass imports from Turkey exceeded the figures recorded by the second-largest supplier, Romania (X square meters), twofold. The third position in this ranking was held by China (X square meters), with a 9.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey totaled +8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+9.5% per year) and China (+1.6% per year).

In value terms, Turkey ($X), Romania ($X) and China ($X) constituted the largest safety glass suppliers to Bulgaria, with a combined 68% share of total imports. Hungary, Poland, Iran, the Czech Republic and Belgium lagged somewhat behind, together accounting for a further 16%.

In terms of the main suppliers, Iran, with a CAGR of +116.1%, recorded the highest growth rate of 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 safety glass import price stood at $X per square meter in 2022, jumping by 20% against the previous year. In general, the import price, however, continues to indicate a perceptible setback. Over the period under review, average import prices hit record highs at $X per square meter in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per square meter), while the price for Iran ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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