Bulgaria: Non-Alloy Steel U-Section Market 2024

Non-Alloy Steel U-Section Market Size in Bulgaria

The Bulgarian non-alloy steel u-section market expanded rapidly to $X in 2022, growing by 5.1% against the previous year. Overall, consumption, however, showed a deep downturn. Non-alloy steel u-section consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Non-Alloy Steel U-Section Production in Bulgaria

In value terms, non-alloy steel u-section production totaled $X in 2022 estimated in export price. Over the period under review, production, however, saw a abrupt curtailment. The most prominent rate of growth was recorded in 2020 with an increase of 34%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Non-Alloy Steel U-Section Exports

Exports from Bulgaria

For the eighth consecutive year, Bulgaria recorded decline in shipments abroad of u-sections of non-alloy steel, which decreased by -56.4% to X tons in 2022. Overall, exports saw a sharp decrease. The most prominent rate of growth was recorded in 2014 when exports increased by 14%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, non-alloy steel u-section exports reduced dramatically to $X in 2022. Over the period under review, exports saw a dramatic descent. The most prominent rate of growth was recorded in 2017 when exports increased by 19% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Romania (X tons), North Macedonia (X tons) and Albania (X tons) were the main destinations of non-alloy steel u-section exports from Bulgaria, with a combined 83% share of total exports. Croatia, Serbia, Greece and Hungary lagged somewhat behind, together comprising a further 16%.

From 2012 to 2022, the biggest increases were recorded for Croatia (with a CAGR of +83.7%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Romania ($X), North Macedonia ($X) and Albania ($X) were the largest markets for non-alloy steel u-section exported from Bulgaria worldwide, together comprising 81% of total exports. Serbia, Croatia, Greece and Hungary lagged somewhat behind, together comprising a further 17%.

Croatia, with a CAGR of +66.0%, recorded 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 2022, the average non-alloy steel u-section export price amounted to $X per ton, growing by 17% against the previous year. Overall, the export price saw notable growth. The pace of growth appeared the most rapid in 2021 an increase of 49% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see steady growth in years to come.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the countries with the highest prices were Hungary ($X per ton) and Serbia ($X per ton), while the average price for exports to North Macedonia ($X per ton) and Croatia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+11.3%), while the prices for the other major destinations experienced more modest paces of growth.

Non-Alloy Steel U-Section Imports

Imports into Bulgaria

In 2022, the amount of u-sections of non-alloy steel imported into Bulgaria dropped modestly to X tons, approximately mirroring the previous year's figure. Overall, imports saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 8.3%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, non-alloy steel u-section imports soared to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 36%. Imports peaked at $X in 2012; afterwards, it flattened through to 2022.

Imports by Country

In 2022, Turkey (X tons) constituted the largest non-alloy steel u-section supplier to Bulgaria, accounting for a 54% share of total imports. Moreover, non-alloy steel u-section imports from Turkey exceeded the figures recorded by the second-largest supplier, Spain (X tons), fourfold. Luxembourg (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey totaled +46.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+4.2% per year) and Luxembourg (+3.3% per year).

In value terms, Turkey ($X) constituted the largest supplier of u-sections of non-alloy steel to Bulgaria, comprising 49% of total imports. The second position in the ranking was held by Spain ($X), with a 14% share of total imports. It was followed by Luxembourg, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Turkey stood at +47.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+8.4% per year) and Luxembourg (+8.9% per year).

Import Prices by Country

The average non-alloy steel u-section import price stood at $X per ton in 2022, jumping by 31% against the previous year. Overall, import price indicated temperate growth from 2012 to 2022: its price increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, non-alloy steel u-section import price increased by +77.9% against 2020 indices. The most prominent rate of growth was recorded in 2021 an increase of 36% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Luxembourg ($X per ton), while the price for the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Luxembourg (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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