Bulgaria: Wadding Market 2024

Wadding Market Size in Bulgaria

The Bulgarian wadding market rose to $X in 2021, picking up by 3.2% against the previous year. Over the period under review, consumption showed a abrupt slump. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Wadding Production in Bulgaria

In value terms, wadding production reduced modestly to $X in 2021 estimated in export price. Over the period under review, production, however, recorded a prominent expansion. The pace of growth appeared the most rapid in 2013 when the production volume increased by 65% against the previous year. Wadding production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Wadding Exports

Exports from Bulgaria

In 2021, after two years of growth, there was decline in shipments abroad of wadding, when their volume decreased by -1.3% to X tons. Overall, exports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2013 when exports increased by 46% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2020, and then contracted in the following year.

In value terms, wadding exports reached $X in 2021. Over the period under review, exports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 50%. Over the period under review, the exports hit record highs in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Germany (X tons), Lithuania (X tons) and Belarus (X tons) were the main destinations of wadding exports from Bulgaria, with a combined 34% share of total exports. Greece, Italy, Poland, the UK, Romania, the Netherlands, France, Ukraine, Russia and Iraq lagged somewhat behind, together comprising a further 48%.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +115.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Lithuania ($X) and Belarus ($X) appeared to be the largest markets for wadding exported from Bulgaria worldwide, with a combined 34% share of total exports. Italy, Poland, Ukraine, Greece, the Netherlands, Romania, France, the UK, Iraq and Russia lagged somewhat behind, together accounting for a further 46%.

In terms of the main countries of destination, the UK, with a CAGR of +119.0%, recorded the highest growth rate of 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 wadding export price stood at $X per ton in 2021, increasing by 2.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. The growth pace was the most rapid in 2018 when the average export price increased by 13%. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Iraq ($X per ton), while the average price for exports to the UK ($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 Romania (+5.2%), while the prices for the other major destinations experienced more modest paces of growth.

Wadding Imports

Imports into Bulgaria

In 2021, imports of wadding into Bulgaria stood at X tons, increasing by 14% on the previous year. Over the period under review, imports, however, saw a slight descent. The pace of growth appeared the most rapid in 2017 with an increase of 60%. Imports peaked at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, wadding imports soared to $X in 2021. In general, imports, however, showed a deep setback. The most prominent rate of growth was recorded in 2018 when imports increased by 76%. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Turkey (X tons) constituted the largest wadding supplier to Bulgaria, accounting for a 54% share of total imports. Moreover, wadding imports from Turkey exceeded the figures recorded by the second-largest supplier, Greece (X tons), fivefold. The third position in this ranking was taken by Romania (X tons), with a 6.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Turkey stood at +21.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (-1.4% per year) and Romania (+62.5% per year).

In value terms, Turkey ($X) constituted the largest supplier of wadding to Bulgaria, comprising 41% of total imports. The second position in the ranking was taken by Lithuania ($X), with a 9.2% share of total imports. It was followed by Greece, with an 8.9% share.

From 2012 to 2021, the average annual growth rate of value from Turkey amounted to +24.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Lithuania (-23.4% per year) and Greece (-1.0% per year).

Import Prices by Country

The average wadding import price stood at $X per ton in 2021, picking up by 4.6% against the previous year. In general, the import price, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2018 when the average import price increased by 16% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+5.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform