Bulgaria: Glass Closure Market 2024

Glass Closure Market Size in Bulgaria

The Bulgarian glass closure market dropped to $X in 2022, therefore, remained relatively stable against the previous year. Overall, consumption, however, saw a pronounced decline. The most prominent rate of growth was recorded in 2021 when the market value increased by X% against the previous year. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Glass Closure Production in Bulgaria

In value terms, glass closure production declined to $X in 2022 estimated in export price. Over the period under review, production, however, saw a abrupt descent. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. Glass closure production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Glass Closure Exports

Exports from Bulgaria

For the third year in a row, Bulgaria recorded decline in shipments abroad of glass stoppers, lids and other closures, which decreased by X% to X tons in 2022. In general, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, glass closure exports dropped to $X in 2022. Over the period under review, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

North Macedonia (X tons) was the main destination for glass closure exports from Bulgaria, with a X% share of total exports. Moreover, glass closure exports to North Macedonia exceeded the volume sent to the second major destination, Greece (X kg), eightfold. The third position in this ranking was taken by Armenia (X kg), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to North Macedonia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (X% per year) and Armenia (X% per year).

In value terms, North Macedonia ($X) remains the key foreign market for glass stoppers, lids and other closures exports from Bulgaria, comprising X% of total exports. The second position in the ranking was taken by Greece ($X), with a X% share of total exports. It was followed by Georgia, with a X% share.

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

Export Prices by Country

The average glass closure export price stood at $X per ton in 2022, surging by X% against the previous year. In general, the export price continues to indicate a prominent increase. The growth pace was the most rapid in 2021 when the average export price increased by X%. Over the period under review, the average export prices attained the peak figure in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Serbia ($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 France (X%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Closure Imports

Imports into Bulgaria

In 2022, glass closure imports into Bulgaria soared to X tons, rising by X% against the previous year. Over the period under review, imports enjoyed a perceptible expansion. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, glass closure imports expanded slightly to $X in 2022. Overall, imports showed strong growth. The pace of growth was the most pronounced in 2013 with an increase of X%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Greece (X tons) constituted the largest glass closure supplier to Bulgaria, accounting for a X% share of total imports. Moreover, glass closure imports from Greece exceeded the figures recorded by the second-largest supplier, China (X tons), sixfold. Italy (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Greece totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Italy (X% per year).

In value terms, the largest glass closure suppliers to Bulgaria were Greece ($X), the Czech Republic ($X) and Italy ($X), with a combined X% share of total imports.

Greece, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average glass closure import price stood at $X per ton in 2022, falling by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2014 when the average import price increased by X%. The import price peaked at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Austria ($X per ton), while the price for Greece ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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