Bulgaria: Colour Lake Market 2022

Colour Lake Market Size in Bulgaria

In 2021, the Bulgarian colour lake market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, the total consumption indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2018 to 2021, the growth of the market remained at a lower figure.

Colour Lake Exports

Exports from Bulgaria

For the fifth year in a row, Bulgaria recorded decline in shipments abroad of colour lakes, preparations based on colour lakes, which decreased by -87.8% to X kg in 2021. Over the period under review, exports showed a sharp reduction. The growth pace was the most rapid in 2014 when exports increased by 60% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, colour lake exports surged to $X in 2021. In general, exports faced a dramatic downturn. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Georgia (X kg) was the main destination for colour lake exports from Bulgaria, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Georgia amounted to -70.6%.

In value terms, Georgia ($X) emerged as the key foreign market for colour lake exports from Bulgaria.

From 2012 to 2021, the average annual rate of growth in terms of value to Georgia totaled -30.1%.

Export Prices by Country

In 2021, the average colour lake export price amounted to $X per ton, growing by 891% against the previous year. Overall, the export price recorded a significant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Georgia.

From 2012 to 2021, the rate of growth in terms of prices for Georgia amounted to +137.2% per year.

Colour Lake Imports

Imports into Bulgaria

After three years of decline, supplies from abroad of colour lakes, preparations based on colour lakes increased by 12% to X tons in 2021. Overall, imports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 69% against the previous year. As a result, imports attained the peak of X tons. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, colour lake imports declined to $X in 2021. Over the period under review, total imports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -8.1% against 2017 indices. The growth pace was the most rapid in 2014 with an increase of 48% against the previous year. Over the period under review, imports hit record highs at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Italy (X tons) constituted the largest colour lake supplier to Bulgaria, with a 75% share of total imports. Moreover, colour lake imports from Italy exceeded the figures recorded by the second-largest supplier, France (X tons), fourfold. Germany (X tons) ranked third in terms of total imports with a 2.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy stood at +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+95.0% per year) and Germany (-17.3% per year).

In value terms, France ($X) constituted the largest supplier of colour lake to Bulgaria, comprising 59% of total imports. The second position in the ranking was held by Italy ($X), with a 25% share of total imports. It was followed by Peru, with a 6.9% share.

From 2012 to 2021, the average annual growth rate of value from France amounted to +99.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+8.7% per year) and Peru (-8.1% per year).

Import Prices by Country

In 2021, the average colour lake import price amounted to $X per ton, dropping by -11.7% against the previous year. Over the period under review, import price indicated a pronounced expansion from 2012 to 2021: its price increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when the average import price increased by 37% against the previous year. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+23.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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