Bulgaria: Starch Glue Market 2024

Starch Glue Market Size in Bulgaria

The Bulgarian starch glue market fell to $X in 2023, waning by X% against the previous year. Over the period under review, consumption saw a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2023, consumption stood at a somewhat lower figure.

Starch Glue Production in Bulgaria

In value terms, starch glue production amounted to $X in 2023 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. Starch glue production peaked at $X in 2012; however, from 2013 to 2023, production remained at a lower figure.

Starch Glue Exports

Exports from Bulgaria

In 2023, shipments abroad of glues based on starches, dextrins or other modified starches decreased by X% to X tons, falling for the second consecutive year after three years of growth. Overall, exports, however, recorded prominent growth. The pace of growth was the most pronounced in 2019 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2021; however, from 2022 to 2023, the exports remained at a lower figure.

In value terms, starch glue exports declined notably to $X in 2023. Over the period under review, exports, however, posted resilient growth. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The exports peaked at $X in 2022, and then contracted rapidly in the following year.

Exports by Country

Slovakia (X tons), the Czech Republic (X tons) and Greece (X tons) were the main destinations of starch glue exports from Bulgaria, with a combined X% share of total exports. Democratic Republic of the Congo, Angola, Cote d'Ivoire and Kenya lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Angola (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for starch glue exported from Bulgaria were Greece ($X), the Czech Republic ($X) and Slovakia ($X), together comprising X% of total exports. Democratic Republic of the Congo, Angola, Kenya and Cote d'Ivoire lagged somewhat behind, together accounting for a further X%.

Angola, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the average starch glue export price amounted to $X per ton, growing by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2022 an increase of X%. Over the period under review, the average export prices reached the peak figure in 2023 and is likely to see steady growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2023, amid the top suppliers, the countries with the highest prices were Greece ($X per ton) and Democratic Republic of the Congo ($X per ton), while the average price for exports to Slovakia ($X per ton) and Cote d'Ivoire ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (X%), while the prices for the other major destinations experienced more modest paces of growth.

Starch Glue Imports

Imports into Bulgaria

In 2023, after four years of growth, there was significant decline in supplies from abroad of glues based on starches, dextrins or other modified starches, when their volume decreased by X% to X tons. Overall, imports saw a deep reduction. The pace of growth appeared the most rapid in 2022 when imports increased by X% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2023, imports failed to regain momentum.

In value terms, starch glue imports contracted remarkably to $X in 2023. In general, imports continue to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2022, and then reduced remarkably in the following year.

Imports by Country

In 2023, the Netherlands (X tons) constituted the largest starch glue supplier to Bulgaria, with a X% share of total imports. Moreover, starch glue imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Turkey (X tons), fourfold. Italy (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from the Netherlands amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Italy (X% per year).

In value terms, the Netherlands ($X), Italy ($X) and Hungary ($X) were the largest starch glue suppliers to Bulgaria, with a combined X% share of total imports. Turkey, the Czech Republic, Serbia and Greece lagged somewhat behind, together comprising a further X%.

Among the main suppliers, the Czech Republic, with a CAGR of X%, saw the highest rates of growth with regard to 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

The average starch glue import price stood at $X per ton in 2023, picking up by X% against the previous year. Overall, import price indicated notable growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, starch glue import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2015 an increase of X%. Over the period under review, average import prices attained the peak figure in 2023 and is expected to retain growth in the near future.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the Czech Republic (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform