Bulgaria: Synthetic Latex Rubber Market 2024

Synthetic Latex Rubber Market Size in Bulgaria

The Bulgarian synthetic latex rubber market fell to $X in 2021, with a decrease of -13.7% against the previous year. Over the period under review, consumption saw a slight reduction. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Synthetic Latex Rubber Production in Bulgaria

In value terms, synthetic latex rubber production fell remarkably to $X in 2021 estimated in export price. Overall, production continues to indicate a perceptible reduction. The pace of growth appeared the most rapid in 2020 when the production volume increased by 64%. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2021, production failed to regain momentum.

Synthetic Latex Rubber Exports

Exports from Bulgaria

Synthetic latex rubber exports from Bulgaria declined significantly to X tons in 2021, dropping by -87% on 2020. In general, exports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 743% against the previous year. As a result, the exports reached the peak of X tons, and then contracted dramatically in the following year.

In value terms, synthetic latex rubber exports shrank dramatically to $X in 2021. Over the period under review, exports, however, showed a resilient expansion. The pace of growth appeared the most rapid in 2020 with an increase of 1,312%. As a result, the exports reached the peak of $X, and then dropped markedly in the following year.

Exports by Country

Greece (X tons) and North Macedonia (X tons) were the main destinations of synthetic latex rubber exports from Bulgaria.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Greece (with a CAGR of +49.8%).

In value terms, the largest markets for synthetic latex rubber exported from Bulgaria were Greece ($X) and North Macedonia ($X).

North Macedonia, with a CAGR of +28.9%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

In 2021, the average synthetic latex rubber export price amounted to $X per ton, with a decrease of -19.7% against the previous year. Overall, the export price saw a pronounced contraction. The most prominent rate of growth was recorded in 2013 when the average export price increased by 99%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices failed to regain momentum.

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 Greece totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+14.9%), while the prices for the other major destinations experienced a decline.

Synthetic Latex Rubber Imports

Imports into Bulgaria

In 2021, after three years of decline, there was significant growth in overseas purchases of synthetic latex rubber, when their volume increased by 7.2% to X tons. Over the period under review, imports, however, recorded a slight slump. The most prominent rate of growth was recorded in 2016 when imports increased by 38%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, synthetic latex rubber imports skyrocketed to $X in 2021. In general, imports, however, showed a noticeable setback. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Poland (X tons) constituted the largest supplier of synthetic latex rubber to Bulgaria, accounting for a 68% share of total imports. Moreover, synthetic latex rubber imports from Poland exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. Italy (X tons) ranked third in terms of total imports with a 7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Poland amounted to +148.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-12.3% per year) and Italy (-8.7% per year).

In value terms, Poland ($X) constituted the largest supplier of synthetic latex rubber to Bulgaria, comprising 67% of total imports. The second position in the ranking was held by Germany ($X), with a 25% share of total imports. It was followed by Italy, with a 7.1% share.

From 2012 to 2021, the average annual growth rate of value from Poland stood at +130.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-14.9% per year) and Italy (-11.9% per year).

Import Prices by Country

The average synthetic latex rubber import price stood at $X per ton in 2021, growing by 33% against the previous year. In general, the import price, however, showed a perceptible contraction. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the countries with the highest prices were Belgium ($X per ton) and Italy ($X per ton), while the price for Poland ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+4.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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