Bulgaria: Plastic Closure Market 2024

Plastic Closure Market Size in Bulgaria

In 2022, the Bulgarian plastic closure market increased by X% to $X, rising for the second year in a row after three years of decline. In general, consumption continues to indicate a slight reduction. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Plastic Closure Production in Bulgaria

In value terms, plastic closure production declined to $X in 2022 estimated in export price. In general, production recorded a mild decline. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Plastic Closure Exports

Exports from Bulgaria

In 2022, plastic closure exports from Bulgaria contracted significantly to X tons, with a decrease of X% compared with the year before. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. The exports peaked at X tons in 2021, and then dropped significantly in the following year.

In value terms, plastic closure exports reached $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the near future.

Exports by Country

Greece (X tons) was the main destination for plastic closure exports from Bulgaria, accounting for a X% share of total exports. Moreover, plastic closure exports to Greece exceeded the volume sent to the second major destination, Romania (X tons), threefold. The third position in this ranking was held by Serbia (X tons), with an X% share.

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

In value terms, Greece ($X) remains the key foreign market for plastic stoppers, caps and closures exports from Bulgaria, comprising X% of total exports. The second position in the ranking was held by Romania ($X), with a X% share of total exports. It was followed by Poland, with a X% share.

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

Export Prices by Country

In 2022, the average plastic closure export price amounted to $X per ton, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Greece ($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 Kosovo (X%), while the prices for the other major destinations experienced more modest paces of growth.

Plastic Closure Imports

Imports into Bulgaria

Plastic closure imports into Bulgaria surged to X tons in 2022, growing by X% against the previous year. Over the period under review, total imports indicated a strong increase from 2012 to 2022: its volume 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 2015 indices. The most prominent rate of growth was recorded in 2013 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, plastic closure imports rose rapidly to $X in 2022. Overall, imports showed prominent growth. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

Turkey (X tons), Germany (X tons) and Romania (X tons) were the main suppliers of plastic closure imports to Bulgaria, together accounting for X% of total imports.

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

In value terms, Turkey ($X), Germany ($X) and Poland ($X) were the largest plastic closure suppliers to Bulgaria, with a combined X% share of total imports. Romania, China, Italy, Serbia, Greece, Hungary, France and Austria lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Romania, with a CAGR of X%, recorded the highest growth rate of 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 plastic closure import price stood at $X per ton in 2022, waning by X% against the previous year. In general, the import price, however, saw a slight increase. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. The import price peaked at $X per ton in 2021, and then fell modestly 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 China ($X per ton), while the price for France ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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