Bulgaria: Carbon Dioxide Market 2024

Carbon Dioxide Market Size in Bulgaria

The Bulgarian carbon dioxide market surged to $X in 2022, growing by X% against the previous year. Over the period under review, consumption, however, showed a slight contraction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Carbon Dioxide Production in Bulgaria

In value terms, carbon dioxide production totaled $X in 2022 estimated in export price. In general, production, however, saw a buoyant increase. The pace of growth appeared the most rapid in 2015 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

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Carbon Dioxide Exports

Exports from Bulgaria

In 2022, approx. X tons of carbon dioxide were exported from Bulgaria; shrinking by X% on 2021. Overall, exports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2013 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, carbon dioxide exports reduced slightly to $X in 2022. Over the period under review, total exports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, the exports reached the peak figure at $X in 2021, and then contracted slightly in the following year.

Exports by Country

Romania (X tons) was the main destination for carbon dioxide exports from Bulgaria, with a X% share of total exports. It was followed by Ukraine (X tons), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to Romania stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (X% per year) and Greece (X% per year).

In value terms, Romania ($X) remains the key foreign market for carbon dioxide exports from Bulgaria, comprising X% of total exports. The second position in the ranking was held by Ukraine ($X), with a X% share of total exports.

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

Export Prices by Country

The average carbon dioxide export price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

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

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

Carbon Dioxide Imports

Imports into Bulgaria

In 2022, overseas purchases of carbon dioxide increased by X% to X tons, rising for the second consecutive year after three years of decline. In general, imports, however, recorded a noticeable reduction. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, carbon dioxide imports skyrocketed to $X in 2022. Overall, imports showed a modest increase. The pace of growth was the most pronounced in 2021 with an increase of X%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, North Macedonia (X tons) constituted the largest carbon dioxide supplier to Bulgaria, accounting for a X% share of total imports. Moreover, carbon dioxide imports from North Macedonia exceeded the figures recorded by the second-largest supplier, Serbia (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume from North Macedonia totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Serbia (X% per year) and Hungary (X% per year).

In value terms, North Macedonia ($X), Hungary ($X) and Serbia ($X) appeared to be the largest carbon dioxide suppliers to Bulgaria, with a combined X% share of total imports.

Among the main suppliers, Hungary, 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 mixed trend patterns.

Import Prices by Country

The average carbon dioxide import price stood at $X per ton in 2022, approximately mirroring the previous year. Over the period under review, import price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, carbon dioxide import price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton, leveling off in the following year.

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 Hungary ($X per ton), while the price for North Macedonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Serbia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform