Bulgaria: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in Bulgaria

The Bulgarian synthetic rubber market plummeted to $X in 2021, shrinking by -18.7% against the previous year. Over the period under review, consumption showed a drastic downturn. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Synthetic Rubber Production in Bulgaria

In value terms, synthetic rubber production declined significantly to $X in 2021 estimated in export price. Overall, production showed a abrupt setback. The growth pace was the most rapid in 2020 with an increase of 257% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Synthetic Rubber Exports

Exports from Bulgaria

In 2021, exports of synthetic rubber from Bulgaria amounted to X tons, growing by 5% against the previous year's figure. Over the period under review, exports continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2019 when exports increased by 739% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, synthetic rubber exports rose sharply to $X in 2021. Overall, exports saw a remarkable increase. The most prominent rate of growth was recorded in 2016 when exports increased by 178% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Turkey (X tons), Cyprus (X tons) and Greece (X tons) were the main destinations of synthetic rubber exports from Bulgaria, together comprising 66% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Cyprus (with a CAGR of +90.4%), while the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Cyprus ($X) and Germany ($X) appeared to be the largest markets for synthetic rubber exported from Bulgaria worldwide, together comprising 66% of total exports.

Cyprus, with a CAGR of +84.0%, saw the highest rates of growth with regard to 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 rubber export price amounted to $X per ton, picking up by 5.8% against the previous year. Over the period under review, the export price, however, showed a pronounced reduction. The pace of growth was the most pronounced in 2020 when the average export price increased by 307% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Greece ($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 Lithuania (+12.1%), while the prices for the other major destinations experienced mixed trend patterns.

Synthetic Rubber Imports

Imports into Bulgaria

In 2021, imports of synthetic rubber into Bulgaria amounted to X tons, remaining constant against the previous year. In general, imports continue to indicate strong growth. The pace of growth was the most pronounced in 2019 when imports increased by 103%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, synthetic rubber imports surged to $X in 2021. Over the period under review, imports enjoyed a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Poland (X tons), Russia (X tons) and the Netherlands (X tons) were the main suppliers of synthetic rubber imports to Bulgaria, with a combined 55% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +39.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest synthetic rubber suppliers to Bulgaria were the Netherlands ($X), Poland ($X) and Russia ($X), together comprising 54% of total imports.

In terms of the main suppliers, Poland, with a CAGR of +33.0%, 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

The average synthetic rubber import price stood at $X per ton in 2021, jumping by 39% against the previous year. Over the period under review, the import price, however, showed a mild contraction. The pace of growth was the most pronounced in 2020 when the average import price increased by 43% 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 by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Poland ($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 (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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