Bulgaria: Market for Zinc Ores And Concentrates 2024

Market Size for Zinc Ores And Concentrates in Bulgaria

In 2021, the Bulgarian zinc ores and concentrates market increased by 39% to $X, rising for the second year in a row after two years of decline. Overall, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market failed to regain momentum.

Exports of Zinc Ores And Concentrates

Exports from Bulgaria

In 2021, shipments abroad of zinc ores and concentrates increased by 336% to X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports showed significant growth. The pace of growth appeared the most rapid in 2014 with an increase of 710% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, zinc ores and concentrates exports skyrocketed to $X in 2021. In general, exports recorded significant growth. The pace of growth was the most pronounced in 2014 with an increase of 715% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for zinc ores and concentrates exports from Bulgaria, with a 70% share of total exports. Moreover, zinc ores and concentrates exports to China exceeded the volume sent to the second major destination, Romania (X tons), twofold.

From 2013 to 2021, the average annual rate of growth in terms of volume to China stood at -12.5%.

In value terms, the largest markets for zinc ores and concentrates exported from Bulgaria were Romania ($X) and China ($X).

Romania, with a CAGR of +69.6%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

The average zinc ores and concentrates export price stood at $X per ton in 2021, reducing by -29.3% against the previous year. Over the period under review, the export price, however, enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2020 an increase of 131% against the previous year. As a result, the export price reached the peak level of $X per ton, and then declined remarkably in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Romania ($X per ton), while the average price for exports to China amounted to $X per ton.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+22.5%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Zinc Ores And Concentrates

Imports into Bulgaria

In 2021, overseas purchases of zinc ores and concentrates increased by 16% to X tons, rising for the second year in a row after two years of decline. In general, imports, however, showed a perceptible descent. The most prominent rate of growth was recorded in 2020 when imports increased by 22%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, zinc ores and concentrates imports skyrocketed to $X in 2021. Overall, imports saw a noticeable expansion. The growth pace was the most rapid in 2017 with an increase of 85% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, North Macedonia (X tons) constituted the largest supplier of zinc ores and concentrates to Bulgaria, with a 43% share of total imports. Moreover, zinc ores and concentrates imports from North Macedonia exceeded the figures recorded by the second-largest supplier, Kosovo (X tons), threefold. Turkey (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from North Macedonia stood at -2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Kosovo (+149.8% per year) and Turkey (+1.8% per year).

In value terms, North Macedonia ($X) constituted the largest supplier of zinc ores and concentrates to Bulgaria, comprising 43% of total imports. The second position in the ranking was held by Turkey ($X), with a 14% share of total imports. It was followed by Kosovo, with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of value from North Macedonia amounted to +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+9.1% per year) and Kosovo (+386.6% per year).

Import Prices by Country

The average zinc ores and concentrates import price stood at $X per ton in 2021, with an increase of 36% against the previous year. Over the period under review, import price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +4.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the average import price increased by 65% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kosovo (+94.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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