Bulgaria: Market for Welded And Cold-Formed Sections Of Steel 2024

Market Size for Welded And Cold-Formed Sections Of Steel in Bulgaria

The Bulgarian market for welded and cold-formed sections of steel surged to $X in 2022, picking up by 91% against the previous year. In general, consumption showed a resilient expansion. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Welded And Cold-Formed Sections Of Steel in Bulgaria

In value terms, welded and cold-formed steel sections production totaled $X in 2022 estimated in export price. In general, the total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.0% against 2020 indices. The pace of growth appeared the most rapid in 2018 when the production volume increased by 35% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Welded And Cold-Formed Sections Of Steel

Exports from Bulgaria

In 2022, overseas shipments of welded and cold-formed sections of steel decreased by -59.1% to X tons, falling for the second consecutive year after six years of growth. Over the period under review, exports, however, showed a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 405%. Over the period under review, the exports reached the peak figure at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, welded and cold-formed steel sections exports fell dramatically to $X in 2022. Overall, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 376%. The exports peaked at $X in 2021, and then shrank sharply in the following year.

Exports by Country

Hungary (X tons), Poland (X tons) and the Czech Republic (X tons) were the main destinations of welded and cold-formed steel sections exports from Bulgaria, with a combined 77% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +85.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for welded and cold-formed steel sections exported from Bulgaria were Hungary ($X), Poland ($X) and the Czech Republic ($X), with a combined 76% share of total exports.

Poland, with a CAGR of +91.6%, recorded the highest rates of growth with regard to the value of exports, in terms of 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 export price for welded and cold-formed sections of steel amounted to $X per ton, rising by 9.8% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 79%. The export price peaked at $X per ton in 2012; afterwards, it flattened through to 2022.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Germany ($X per ton) and the Czech Republic ($X per ton), while the average price for exports to Greece ($X per ton) and Romania ($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 the Czech Republic (+13.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Welded And Cold-Formed Sections Of Steel

Imports into Bulgaria

In 2022, overseas purchases of welded and cold-formed sections of steel increased by 61% to X tons, rising for the third consecutive year after two years of decline. In general, imports posted a significant increase. The growth pace was the most rapid in 2020 with an increase of 411% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, welded and cold-formed steel sections imports surged to $X in 2022. Overall, imports posted strong growth. The growth pace was the most rapid in 2015 when imports increased by 648%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

Imports by Country

Luxembourg (X tons), Romania (X tons) and Lithuania (X tons) were the main suppliers of welded and cold-formed steel sections imports to Bulgaria, together comprising 94% of total imports.

From 2012 to 2022, the biggest increases were recorded for Lithuania (with a CAGR of +115.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Luxembourg ($X) constituted the largest supplier of welded and cold-formed sections of steel to Bulgaria, comprising 58% of total imports. The second position in the ranking was held by Romania ($X), with a 23% share of total imports. It was followed by the Czech Republic, with a 6.1% share.

From 2012 to 2022, the average annual growth rate of value from Luxembourg totaled +58.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+94.5% per year) and the Czech Republic (-4.0% per year).

Import Prices by Country

The average import price for welded and cold-formed sections of steel stood at $X per ton in 2022, rising by 50% against the previous year. Overall, the import price, however, continues to indicate a noticeable downturn. The pace of growth was the most pronounced in 2015 an increase of 69% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average 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 the Czech Republic ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lithuania (+79.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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