Bulgaria: Acyclic Hydrocarbons Market 2024

Acyclic Hydrocarbons Market Size in Bulgaria

The Bulgarian acyclic hydrocarbons market surged to $X in 2020, with an increase of X% against the previous year. Overall, consumption, however, continues to indicate a remarkable increase. Over the period under review, the market attained the peak level in 2020 and is expected to retain growth in the immediate term.

Acyclic Hydrocarbons Production in Bulgaria

In value terms, acyclic hydrocarbons production skyrocketed to $X in 2020 estimated in export price. In general, production, however, saw resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Acyclic hydrocarbons production peaked in 2020 and is expected to retain growth in years to come.

Acyclic Hydrocarbons Exports

Exports from Bulgaria

In 2020, shipments abroad of acyclic hydrocarbons decreased by X% to X tons, falling for the third consecutive year after three years of growth. Overall, exports saw a dramatic decline. The most prominent rate of growth was recorded in 2017 with an increase of X%. As a result, the exports reached the peak of X tons. From 2018 to 2020, the growth of the exports remained at a lower figure.

In value terms, acyclic hydrocarbons exports declined significantly to $X in 2020. In general, exports showed a dramatic curtailment. The pace of growth appeared the most rapid in 2017 when exports increased by X%. As a result, the exports attained the peak of $X. From 2018 to 2020, the growth of the exports remained at a lower figure.

Exports by Country

Romania (X tons) was the main destination for acyclic hydrocarbons exports from Bulgaria, accounting for a X% share of total exports. Moreover, acyclic hydrocarbons exports to Romania exceeded the volume sent to the second major destination, Turkey (X tons), eightfold. Iraq (X tons) ranked third in terms of total exports with an X% share.

From 2012 to 2020, the average annual rate of growth in terms of volume to Romania totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Turkey (X% per year) and Iraq (X.8% per year).

In value terms, Turkey ($X), Iraq ($X) and Romania ($X) were the largest markets for acyclic hydrocarbons exported from Bulgaria worldwide, together comprising X% of total exports.

Among the main countries of destination, Iraq, with a CAGR of X.6%, recorded the highest growth rate of 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 2020, the average acyclic hydrocarbons export price amounted to $X per ton, rising by X% against the previous year. In general, the export price showed a significant expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2020, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Romania ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to France (X%), while the prices for the other major destinations experienced mixed trend patterns.

Acyclic Hydrocarbons Imports

Imports into Bulgaria

In 2020, purchases abroad of acyclic hydrocarbons decreased by X% to X tons, falling for the third year in a row after six years of growth. Overall, imports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2020, imports stood at a somewhat lower figure.

In value terms, acyclic hydrocarbons imports shrank to $X in 2020. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2020: its value increased at an average annual rate of X% over the last eight-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, imports decreased by X% against 2017 indices. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2020, imports remained at a lower figure.

Imports by Country

In 2020, Germany (X tons) constituted the largest acyclic hydrocarbons supplier to Bulgaria, accounting for a X% share of total imports. Moreover, acyclic hydrocarbons imports from Germany exceeded the figures recorded by the second-largest supplier, Romania (X tons), twofold. Hungary (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2020, the average annual growth rate of volume from Germany amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (X% per year) and Hungary (X% per year).

In value terms, the largest acyclic hydrocarbons suppliers to Bulgaria were Germany ($X), Romania ($X) and the Czech Republic ($X), together accounting for X% of total imports. Hungary, North Macedonia and Belarus lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Belarus, with a CAGR of X%, saw 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 2020, the average acyclic hydrocarbons import price amounted to $X per ton, picking up by X% against the previous year. Overall, the import price, however, showed a slight contraction. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2020, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, amid the top importers, the country with the highest price was Belarus ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Belarus (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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