Bulgaria: Silicone Market Overview 2020

Silicone Market Size in Bulgaria

The revenue of the silicone market in Bulgaria amounted to $X in 2018, growing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, silicone consumption continues to indicate a prominent expansion. The most prominent rate of growth was recorded in 2011 with an increase of X% against the previous year. Over the period under review, the silicone market reached its maximum level in 2018 and is likely to see steady growth in the immediate term.

Silicone Exports

Exports from Bulgaria

In 2018, approx. X tonnes of silicones (in primary forms) were exported from Bulgaria; picking up by X% against the previous year. Over the period under review, silicone exports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2008 when exports increased by X% year-to-year. Over the period under review, silicone exports attained their peak figure at X tonnes in 2009; however, from 2010 to 2018, exports remained at a lower figure.

In value terms, silicone exports stood at $X in 2018. Over the period under review, silicone exports continue to indicate prominent growth. The most prominent rate of growth was recorded in 2008 with an increase of X% against the previous year. Exports peaked at $X in 2009; however, from 2010 to 2018, exports failed to regain their momentum.

Exports by Country

Malaysia (X tonnes) was the main destination for silicone exports from Bulgaria, with a X% share of total exports. Moreover, silicone exports to Malaysia exceeded the volume sent to the second major destination, Macedonia (X tonnes), threefold. Greece (X tonnes) ranked third in terms of total exports with a X% share.

From 2007 to 2018, the average annual growth rate of volume to Malaysia stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Macedonia (+X% per year) and Greece (+X% per year).

In value terms, the largest markets for silicone exported from Bulgaria were Malaysia ($X), Macedonia ($X) and Sweden ($X), with a combined X% share of total exports. These countries were followed by Serbia, Greece, the UK, Romania, Latvia, Uzbekistan, Norway and China, Hong Kong SAR, which together accounted for a further X UK (+X% per year) recorded the highest rates of growth with regard to exports, in terms of the main countries of destination over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Export Prices by Country

The average silicone export price stood at $X per tonne in 2018, growing by X% against the previous year. Over the period under review, the export price indicated slight growth from 2007 to 2018: its price increased at an average annual rate of +X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2018 figures, silicone export price increased by +X% against 2015 indices. The most prominent rate of growth was recorded in 2008 an increase of X% year-to-year. In that year, the average export prices for silicones (in primary forms) reached their peak level of $X per tonne. From 2009 to 2018, the growth in terms of the average export prices for silicones (in primary forms) remained at a lower figure.

Prices varied noticeably by the country of destination; the country with the highest price was Sweden ($X per tonne), while the average price for exports to China, Hong Kong SAR ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia, while the prices for the other major destinations experienced more modest paces of growth.

Silicone Imports

Imports into Bulgaria

In 2018, the amount of silicones (in primary forms) imported into Bulgaria totaled X tonnes, standing approx. at the previous year. Overall, silicone imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2011 with an increase of X% against the previous year. Over the period under review, silicone imports attained their maximum at X tonnes in 2016; however, from 2017 to 2018, imports failed to regain their momentum.

In value terms, silicone imports stood at $X in 2018. Over the period under review, silicone imports continue to indicate strong growth. The pace of growth was the most pronounced in 2011 when imports increased by X% y-o-y. Imports peaked in 2018 and are likely to see steady growth in the immediate term.

Imports by Country

In 2018, Germany (X tonnes) constituted the largest supplier of silicone to Bulgaria, accounting for a X% share of total imports. Moreover, silicone imports from Germany exceeded the figures recorded by the second-largest supplier, Turkey (X tonnes), twofold. Italy (X tonnes) ranked third in terms of total imports with a X% share.

From 2007 to 2018, the average annual growth rate of volume from Germany totaled +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, Germany ($X), Turkey ($X) and Italy ($X) appeared to be the largest silicone suppliers to Bulgaria, with a combined X% share of total imports. These countries were followed by China, Austria, Belgium, the U.S., the Netherlands, South Korea and Poland, which together accounted for a further X terms of the main suppliers, China experienced the highest rates of growth with regard to imports, over the last eleven-year period, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the average silicone import price amounted to $X per tonne, going up by X% against the previous year. In general, the silicone import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 an increase of X% y-o-y. In that year, the average import prices for silicones (in primary forms) reached their peak level of $X per tonne. From 2009 to 2018, the growth in terms of the average import prices for silicones (in primary forms) remained at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Italy ($X per tonne), while the price for the U.S. ($X per tonne) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Turkey, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform