Bulgaria: Silicon Dioxide Market 2024

Silicon Dioxide Market Size in Bulgaria

The Bulgarian silicon dioxide market surged to $X in 2021, jumping by 26% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +6.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +51.3% against 2017 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Silicon Dioxide Exports

Exports from Bulgaria

In 2021, approx. X tons of silicon dioxide were exported from Bulgaria; picking up by 34% against the year before. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when exports increased by 104%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, silicon dioxide exports skyrocketed to $X in 2021. In general, exports recorded a strong increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Greece (X tons), Serbia (X tons) and Iran (X tons) were the main destinations of silicon dioxide exports from Bulgaria, with a combined 92% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Greece (with a CAGR of +38.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Greece ($X), Iran ($X) and Serbia ($X) appeared to be the largest markets for silicon dioxide exported from Bulgaria worldwide, together accounting for 89% of total exports.

In terms of the main countries of destination, Iran, with a CAGR of +53.6%, saw 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 silicon dioxide export price stood at $X per ton in 2021, picking up by 88% against the previous year. Overall, the export price posted a prominent increase. The pace of growth appeared the most rapid in 2020 an increase of 124%. The export price peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Iran ($X per ton), while the average price for exports to Serbia ($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 Iran (+186.6%), while the prices for the other major destinations experienced more modest paces of growth.

Silicon Dioxide Imports

Imports into Bulgaria

Silicon dioxide imports into Bulgaria soared to X tons in 2021, jumping by 54% compared with the year before. Over the period under review, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +83.9% against 2017 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, silicon dioxide imports expanded significantly to $X in 2021. In general, total imports indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +62.8% against 2014 indices. The pace of growth appeared the most rapid in 2015 with an increase of 20% against the previous year. Imports peaked in 2021 and are likely to continue growth in the immediate term.

Imports by Country

In 2021, North Macedonia (X tons) constituted the largest silicon dioxide supplier to Bulgaria, accounting for a 39% share of total imports. Moreover, silicon dioxide imports from North Macedonia exceeded the figures recorded by the second-largest supplier, Belgium (X tons), threefold. The third position in this ranking was taken by the UK (X tons), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from North Macedonia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+82.3% per year) and the UK (+4.4% per year).

In value terms, Belgium ($X), the UK ($X) and Germany ($X) were the largest silicon dioxide suppliers to Bulgaria, with a combined 59% share of total imports.

In terms of the main suppliers, Belgium, with a CAGR of +85.7%, 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 silicon dioxide import price stood at $X per ton in 2021, which is down by -25.4% against the previous year. Over the period under review, the import price recorded a mild reduction. The pace of growth was the most pronounced in 2014 an increase of 20% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

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 France ($X per ton), while the price for North Macedonia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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