Bulgaria: Market for Wood Chips And Particles 2024

Market Size for Wood Chips And Particles in Bulgaria

After two years of decline, the Bulgarian wood chips and particles market increased by 241% to $X in 2022. Overall, consumption, however, continues to indicate a noticeable shrinkage. Wood chips and particles consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Wood Chips And Particles in Bulgaria

In value terms, wood chips and particles production surged to $X in 2022 estimated in export price. Overall, production, however, recorded a deep setback. The pace of growth appeared the most rapid in 2017 when the production volume increased by 181%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Exports of Wood Chips And Particles

Exports from Bulgaria

For the fifth year in a row, Bulgaria recorded decline in shipments abroad of wood chips and particles, which decreased by -16.1% to X cubic meters in 2022. Overall, exports showed a deep contraction. The pace of growth appeared the most rapid in 2015 when exports increased by 202% against the previous year. As a result, the exports attained the peak of X cubic meters. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, wood chips and particles exports contracted notably to $X in 2022. Over the period under review, exports continue to indicate a deep setback. The pace of growth was the most pronounced in 2015 with an increase of 262% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Turkey (X cubic meters), Greece (X cubic meters) and Romania (X cubic meters) were the main destinations of wood chips and particles exports from Bulgaria, together comprising 100% 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 Turkey (with a CAGR of +26.5%), while the other leaders experienced a decline.

In value terms, Turkey ($X) remains the key foreign market for wood chips and particles exports from Bulgaria, comprising 63% of total exports. The second position in the ranking was taken by Greece ($X), with a 31% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Turkey stood at +26.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (-21.1% per year) and Romania (-5.9% per year).

Export Prices by Country

The average wood chips and particles export price stood at $X per cubic meter in 2022, dropping by -7% against the previous year. In general, the export price showed a mild descent. The pace of growth appeared the most rapid in 2020 when the average export price increased by 51% against the previous year. As a result, the export price attained the peak level of $X per cubic meter. From 2021 to 2022, the average export prices failed to regain momentum.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per cubic meter), while the average price for exports to Greece ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+10.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Wood Chips And Particles

Imports into Bulgaria

In 2022, overseas purchases of wood chips and particles decreased by -80.1% to X cubic meters for the first time since 2019, thus ending a two-year rising trend. In general, imports faced a abrupt setback. The most prominent rate of growth was recorded in 2021 when imports increased by 457% against the previous year. Imports peaked at X cubic meters in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, wood chips and particles imports dropped notably to $X in 2022. Over the period under review, imports showed a abrupt contraction. The pace of growth was the most pronounced in 2021 with an increase of 377% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Germany (X cubic meters) constituted the largest wood chips and particles supplier to Bulgaria, with a 79% share of total imports. Moreover, wood chips and particles imports from Germany exceeded the figures recorded by the second-largest supplier, Turkey (X cubic meters), ninefold. Austria (X cubic meters) ranked third in terms of total imports with a 5.5% share.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled -9.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+55.9% per year) and Austria (+11.0% per year).

In value terms, Germany ($X) constituted the largest supplier of wood chips and particles to Bulgaria, comprising 59% of total imports. The second position in the ranking was held by Greece ($X), with an 11% share of total imports. It was followed by Turkey, with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Greece (-20.1% per year) and Turkey (+53.5% per year).

Import Prices by Country

The average wood chips and particles import price stood at $X per cubic meter in 2022, growing by 28% against the previous year. Over the period under review, the import price posted a resilient expansion. The most prominent rate of growth was recorded in 2015 an increase of 90% against the previous year. Over the period under review, average import prices hit record highs at $X per cubic meter in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

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 Greece ($X per cubic meter), while the price for Romania ($X per cubic meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greece (+31.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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