Bulgaria: Worked Flat Glass Market 2024

Worked Flat Glass Market Size in Bulgaria

In 2021, the Bulgarian worked flat glass market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Overall, the total consumption indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Worked flat glass consumption peaked in 2021 and is expected to retain growth in years to come.

Worked Flat Glass Production in Bulgaria

In value terms, worked flat glass production rose slightly to $X in 2021 estimated in export price. In general, production saw significant growth. The most prominent rate of growth was recorded in 2017 when the production volume increased by 121%. Worked flat glass production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Worked Flat Glass Exports

Exports from Bulgaria

In 2021, after two years of growth, there was significant decline in overseas shipments of worked flat glass, when their volume decreased by -22.3% to X tons. Over the period under review, exports faced a deep contraction. The pace of growth appeared the most rapid in 2020 with an increase of 67%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, worked flat glass exports reached $X in 2021. In general, exports recorded a pronounced curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 101%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

North Macedonia (X tons), Serbia (X tons) and Russia (X tons) were the main destinations of worked flat glass exports from Bulgaria, together comprising 88% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of +26.8%), while the other leaders experienced a decline.

In value terms, Russia ($X) remains the key foreign market for worked flat glass exports from Bulgaria, comprising 56% of total exports. The second position in the ranking was taken by North Macedonia ($X), with a 21% share of total exports. It was followed by Serbia, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Russia stood at +40.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (-1.4% per year) and Serbia (-9.6% per year).

Export Prices by Country

In 2021, the average worked flat glass export price amounted to $X per ton, growing by 35% against the previous year. Overall, the export price recorded prominent growth. The pace of growth appeared the most rapid in 2017 an increase of 81%. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 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 Turkey ($X per ton), while the average price for exports to North Macedonia ($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 Bosnia and Herzegovina (+52.3%), while the prices for the other major destinations experienced more modest paces of growth.

Worked Flat Glass Imports

Imports into Bulgaria

In 2021, purchases abroad of worked flat glass increased by 48% to X tons, rising for the fourth year in a row after two years of decline. Overall, imports, however, continue to indicate a perceptible downturn. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, worked flat glass imports soared to $X in 2021. Over the period under review, imports, however, showed a deep slump. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Egypt (X tons) constituted the largest supplier of worked flat glass to Bulgaria, accounting for a 61% share of total imports. Moreover, worked flat glass imports from Egypt exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold. Belgium (X tons) ranked third in terms of total imports with a 7.2% share.

From 2012 to 2021, the average annual growth rate of volume from Egypt stood at +27.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (-19.1% per year) and Belgium (+12.2% per year).

In value terms, the largest worked flat glass suppliers to Bulgaria were Egypt ($X), Germany ($X) and Turkey ($X), together accounting for 62% of total imports.

In terms of the main suppliers, Egypt, with a CAGR of +25.3%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average worked flat glass import price stood at $X per ton in 2021, increasing by 4.8% against the previous year. In general, the import price, however, continues to indicate a abrupt descent. The most prominent rate of growth was recorded in 2017 an increase of 42%. As a result, import price reached the peak level of $X per ton. From 2018 to 2021, the average import prices failed to regain momentum.

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 Germany ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+5.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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