Bulgaria: Vulcanised Rubber Thread Market 2024

Vulcanised Rubber Thread Market Size in Bulgaria

In 2021, after two years of decline, there was significant growth in the Bulgarian vulcanised rubber thread market, when its value increased by 15% to $X. Over the period under review, consumption, however, showed a mild setback. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Vulcanised Rubber Thread Exports

Exports from Bulgaria

In 2021, overseas shipments of vulcanised rubber thread and cord decreased by -26.5% to X tons, falling for the second year in a row after two years of growth. In general, exports, however, enjoyed a temperate expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 96% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, vulcanised rubber thread exports declined rapidly to $X in 2021. Over the period under review, exports saw a mild shrinkage. The pace of growth was the most pronounced in 2018 with an increase of 109%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Serbia (X tons) and Albania (X tons) were the main destinations of vulcanised rubber thread 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 Serbia (with a CAGR of +45.9%).

In value terms, Albania ($X) and Serbia ($X) appeared to be the largest markets for vulcanised rubber thread exported from Bulgaria worldwide.

Serbia, with a CAGR of +60.1%, 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 vulcanised rubber thread export price amounted to $X per ton, with a decrease of -3.9% against the previous year. Overall, the export price saw a noticeable setback. The pace of growth appeared the most rapid in 2019 an increase of 44% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Albania ($X per ton), while the average price for exports to Serbia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+11.5%), while the prices for the other major destinations experienced more modest paces of growth.

Vulcanised Rubber Thread Imports

Imports into Bulgaria

In 2021, the amount of vulcanised rubber thread and cord imported into Bulgaria amounted to X tons, with an increase of 6.2% on the year before. In general, total imports indicated a perceptible increase from 2012 to 2021: its volume increased at an average annual rate of +3.0% 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 +20.3% against 2017 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 34%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2021, imports failed to regain momentum.

In value terms, vulcanised rubber thread imports stood at $X in 2021. Overall, imports, however, showed a pronounced contraction. The most prominent rate of growth was recorded in 2018 when imports increased by 50% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Turkey (X tons), Malaysia (X tons) and Thailand (X tons) were the main suppliers of vulcanised rubber thread imports to Bulgaria, together accounting for 79% of total imports. These countries were followed by Greece, Belgium, China and Spain, which together accounted for a further 20%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +297.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest vulcanised rubber thread suppliers to Bulgaria were Malaysia ($X), Turkey ($X) and Thailand ($X), with a combined 59% share of total imports. Greece, Spain, Belgium and China lagged somewhat behind, together accounting for a further 34%.

Belgium, with a CAGR of +282.8%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 vulcanised rubber thread import price stood at $X per ton in 2021, picking up by 7.8% against the previous year. In general, the import price, however, continues to indicate a deep setback. The most prominent rate of growth was recorded in 2017 an increase of 26%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+9.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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