Bulgaria: Tap And Valve Market 2024

Tap And Valve Market Size in Bulgaria

In 2022, the Bulgarian tap and valve market decreased by -14.2% to $X, falling for the ninth year in a row after two years of growth. Overall, consumption recorded a deep contraction. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Tap And Valve Production in Bulgaria

In value terms, tap and valve production skyrocketed to $X in 2022 estimated in export price. In general, production recorded a resilient expansion. Tap and valve production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Tap And Valve Exports

Exports from Bulgaria

In 2022, the amount of taps, cocks, valves and similar appliances exported from Bulgaria contracted to X tons, falling by -5.6% compared with the previous year's figure. The total export volume increased at an average annual rate of +1.7% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 with an increase of 29%. The exports peaked at X tons in 2021, and then fell in the following year.

In value terms, tap and valve exports shrank to $X in 2022. In general, total exports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +3.8% 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 +58.6% against 2016 indices. The pace of growth appeared the most rapid in 2017 when exports increased by 33% against the previous year. The exports peaked at $X in 2021, and then contracted modestly in the following year.

Exports by Country

Poland (X tons), Italy (X tons) and Turkey (X tons) were the main destinations of tap and valve exports from Bulgaria, with a combined 44% share of total exports. France, Denmark, Germany, Iran, Greece, Saudi Arabia, Russia, Romania and Cyprus lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Iran (with a CAGR of +79.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tap and valve exported from Bulgaria were Poland ($X), Italy ($X) and Germany ($X), together accounting for 45% of total exports. France, Denmark, Turkey, Russia, Greece, Saudi Arabia, Iran, Romania and Cyprus lagged somewhat behind, together accounting for a further 36%.

Among the main countries of destination, Iran, with a CAGR of +65.1%, recorded 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 tap and valve export price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2018 an increase of 14%. Over the period under review, the average export prices hit record highs in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+14.3%), while the prices for the other major destinations experienced more modest paces of growth.

Tap And Valve Imports

Imports into Bulgaria

In 2022, overseas purchases of taps, cocks, valves and similar appliances decreased by -20.7% to X tons, falling for the second year in a row after five years of growth. Over the period under review, imports, however, continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2019 when imports increased by 39%. Imports peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, tap and valve imports rose significantly to $X in 2022. Overall, imports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 58%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

China (X tons), Italy (X tons) and Germany (X tons) were the main suppliers of tap and valve imports to Bulgaria, with a combined 56% share of total imports. Spain, Poland, Romania, Turkey, Greece, France, the Czech Republic and Denmark lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +24.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest tap and valve suppliers to Bulgaria were Germany ($X), Italy ($X) and China ($X), with a combined 54% share of total imports. These countries were followed by Poland, Spain, Turkey, Greece, Romania, the Czech Republic, France and Denmark, which together accounted for a further 24%.

Romania, with a CAGR of +20.6%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average tap and valve import price stood at $X per ton in 2022, increasing by 37% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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