Bulgaria: Market for Iron and Steel Wire 2024

Market Size for Iron and Steel Wire in Bulgaria

For the third year in a row, the Bulgarian iron and steel wire market recorded growth in sales value, which increased by X% to $X in 2022. Over the period under review, consumption posted a strong expansion. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Production of Iron and Steel Wire in Bulgaria

In value terms, iron and steel wire production reduced to $X in 2022 estimated in export price. In general, production posted a prominent increase. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, production attained the maximum level at $X in 2021, and then dropped in the following year.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Exports of Iron and Steel Wire

Exports from Bulgaria

In 2022, shipments abroad of iron and steel wire decreased by X% to X tons, falling for the second consecutive year after five years of growth. Overall, exports, however, showed prominent growth. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, iron and steel wire exports expanded remarkably to $X in 2022. Over the period under review, exports, however, saw a strong increase. The pace of growth appeared the most rapid in 2016 with an increase of X%. The exports peaked in 2022 and are likely to see steady growth in the near future.

Exports by Country

Romania (X tons), Poland (X tons) and Italy (X tons) were the main destinations of iron and steel wire exports from Bulgaria, together accounting for X% of total exports. The Netherlands, Belgium, the Czech Republic, Greece and Serbia lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for iron and steel wire exported from Bulgaria were Romania ($X), Poland ($X) and Italy ($X), with a combined X% share of total exports. Belgium, the Netherlands, the Czech Republic, Greece and Serbia lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, the Czech Republic, with a CAGR of X%, 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 2022, the average iron and steel wire export price amounted to $X per ton, rising by X% against the previous year. Over the period under review, export price indicated a slight expansion 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, iron and steel wire export price increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2021 when the average export price increased by X%. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Belgium ($X per ton) and Serbia ($X per ton), while the average price for exports to Romania ($X per ton) and Greece ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Iron and Steel Wire

Imports into Bulgaria

In 2022, the amount of iron and steel wire imported into Bulgaria expanded sharply to X tons, with an increase of X% on the previous year's figure. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, iron and steel wire imports rose markedly to $X in 2022. In general, total imports indicated moderate growth 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, imports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of iron and steel wire to Bulgaria, with a X% share of total imports. Moreover, iron and steel wire imports from Turkey exceeded the figures recorded by the second-largest supplier, Italy (X tons), fourfold. The third position in this ranking was taken by the Czech Republic (X tons), with a X% share.

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

In value terms, Turkey ($X) constituted the largest supplier of iron and steel wire to Bulgaria, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with an X% share of total imports. It was followed by Italy, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Turkey amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Italy (X% per year).

Import Prices by Country

The average iron and steel wire import price stood at $X per ton in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 an increase of X%. The import price peaked in 2022 and is likely to see gradual growth in the near future.

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 Austria (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :