Bulgaria: Synthetic Filament Tow Market 2022

Synthetic Filament Tow Market Size in Bulgaria

The Bulgarian synthetic filament tow market amounted to $X in 2021, with an increase of 15% 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). Overall, consumption saw a relatively flat trend pattern. Synthetic filament tow consumption peaked at $X in 2017; however, from 2018 to 2021, consumption remained at a lower figure.

Synthetic Filament Tow Exports

Exports from Bulgaria

For the fourth consecutive year, Bulgaria recorded growth in shipments abroad of synthetic filament tow and staple fibers, not carded or combed, which increased by 56% to X tons in 2021. In general, exports posted strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, synthetic filament tow exports surged to $X in 2021. Over the period under review, exports saw a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Poland (X tons), Romania (X tons) and Germany (X tons) were the main destinations of synthetic filament tow exports from Bulgaria, with a combined 53% share of total exports. Greece, Serbia, North Macedonia, Lithuania, the UK, Estonia, the Czech Republic, Bosnia and Herzegovina, Croatia and Italy lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2021, the biggest increases were in the UK (with a CAGR of +131.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Greece ($X), Poland ($X) and Romania ($X) appeared to be the largest markets for synthetic filament tow exported from Bulgaria worldwide, with a combined 57% share of total exports. Germany, Serbia, the UK, Lithuania, Estonia, North Macedonia, the Czech Republic, Italy, Bosnia and Herzegovina and Croatia lagged somewhat behind, together comprising a further 34%.

The UK, with a CAGR of +112.6%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average synthetic filament tow export price amounted to $X per ton, surging by 8.2% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 23%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Greece ($X per ton), while the average price for exports to Croatia ($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 Greece (+9.6%), while the prices for the other major destinations experienced mixed trend patterns.

Synthetic Filament Tow Imports

Imports into Bulgaria

In 2021, the amount of synthetic filament tow and staple fibers, not carded or combed imported into Bulgaria surged to X tons, jumping by 30% on the previous year. In general, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +8.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +45.3% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, synthetic filament tow imports surged to $X in 2021. The total import value increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, South Korea (X tons) constituted the largest synthetic filament tow supplier to Bulgaria, with a 29% share of total imports. Moreover, synthetic filament tow imports from South Korea exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), twofold. China (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume from South Korea amounted to +23.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+23.3% per year) and China (+49.9% per year).

In value terms, South Korea ($X), China ($X) and Turkey ($X) constituted the largest synthetic filament tow suppliers to Bulgaria, together accounting for 50% of total imports. Vietnam, Thailand, Germany, Taiwan (Chinese), South Africa, Nigeria, Indonesia, Egypt and Malaysia lagged somewhat behind, together accounting for a further 38%.

Among the main suppliers, Nigeria, with a CAGR of +4,941.5%, saw 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

In 2021, the average synthetic filament tow import price amounted to $X per ton, remaining constant against the previous year. Over the period under review, the import price, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2018 an increase of 15% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+16.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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