Bulgaria: Wood Charcoal Market 2024

Wood Charcoal Market Size in Bulgaria

After two years of decline, the Bulgarian wood charcoal market increased by 6% to $X in 2021. Overall, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Wood charcoal consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Wood Charcoal Production in Bulgaria

In value terms, wood charcoal production expanded to $X in 2021 estimated in export price. Overall, production saw a mild reduction. The pace of growth was the most pronounced in 2019 with an increase of 107% against the previous year. Wood charcoal production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Wood Charcoal Exports

Exports from Bulgaria

Wood charcoal exports from Bulgaria dropped to X tons in 2021, with a decrease of -5.5% against 2020 figures. Over the period under review, exports saw a mild decrease. The pace of growth was the most pronounced in 2019 when exports increased by 78% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, wood charcoal exports totaled $X in 2021. In general, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by 47% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Greece (X tons), the UK (X tons) and Ireland (X tons) were the main destinations of wood charcoal exports from Bulgaria, with a combined 70% share of total exports. North Macedonia, Poland, Italy, Norway and the Czech Republic lagged somewhat behind, together accounting for a further 22%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by North Macedonia (with a CAGR of +11.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for wood charcoal exported from Bulgaria were the UK ($X), Greece ($X) and Ireland ($X), with a combined 67% share of total exports. These countries were followed by Poland, Italy, North Macedonia, Norway and the Czech Republic, which together accounted for a further 23%.

In terms of the main countries of destination, North Macedonia, with a CAGR of +16.0%, 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

In 2021, the average wood charcoal export price amounted to $X per ton, growing by 6% against the previous year. Over the period under review, export price indicated modest growth from 2012 to 2021: its price increased at an average annual rate of +1.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, wood charcoal export price increased by +93.5% against 2017 indices. The pace of growth appeared the most rapid in 2020 when the average export price increased by 63%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in years to come.

Prices varied noticeably country of destination: the country with the highest price was Norway ($X per ton), while the average price for exports to Greece ($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 Poland (+44.0%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Charcoal Imports

Imports into Bulgaria

Wood charcoal imports into Bulgaria expanded to X tons in 2021, growing by 2.7% against 2020. In general, imports continue to indicate a strong expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 108% against the previous year. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, wood charcoal imports expanded sharply to $X in 2021. Overall, imports saw resilient growth. The pace of growth appeared the most rapid in 2016 with an increase of 89%. Imports peaked at $X in 2019; afterwards, it flattened through to 2021.

Imports by Country

Turkey (X tons), Ukraine (X tons) and Nigeria (X tons) were the main suppliers of wood charcoal imports to Bulgaria, together comprising 79% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkey (with a CAGR of +95.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X), Ukraine ($X) and Cuba ($X) appeared to be the largest wood charcoal suppliers to Bulgaria, together comprising 75% of total imports.

Among the main suppliers, Turkey, with a CAGR of +94.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average wood charcoal import price amounted to $X per ton, with an increase of 4% against the previous year. Over the period under review, the import price, however, continues to indicate a slight contraction. The pace of growth appeared the most rapid in 2018 when the average import price increased by 23% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Indonesia ($X per ton), while the price for Serbia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Indonesia (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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