Bulgaria: Silicone Market Overview 2021

Silicone Market Size in Bulgaria

In 2020, the Bulgarian silicone market decreased by -X% to $X, falling for the second year in a row after three years of growth. Overall, consumption saw a abrupt contraction. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2020, consumption remained at a lower figure.

Silicone Exports

Exports from Bulgaria

Silicone exports from Bulgaria totaled X tonnes in 2020, leveling off at the previous year. Overall, exports posted a prominent increase. The pace of growth appeared the most rapid in 2008 when exports increased by X% year-to-year. Over the period under review, exports hit record highs at X tonnes in 2009; however, from 2010 to 2020, exports failed to regain the momentum.

In value terms, silicone exports shrank remarkably to $X in 2020. Over the period under review, exports enjoyed a resilient expansion. The pace of growth was the most pronounced in 2008 when exports increased by X% year-to-year. Over the period under review, exports reached the maximum at $X in 2009; however, from 2010 to 2020, exports stood at a somewhat lower figure.

Exports by Country

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

From 2007 to 2020, the average annual rate of growth in terms of volume to Macedonia amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+X% per year) and Serbia (+X% per year).

In value terms, the largest markets for silicone exported from Bulgaria were Macedonia ($X), Serbia ($X) and Greece ($X), together comprising X% of total exports. Austria, Albania, the UK, Moldova, Italy, Germany, Turkey and Romania lagged somewhat behind, together accounting for a further X the main countries of destination, Albania (+X% per year) saw 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 2020, the average silicone export price amounted to $X per tonne, reducing by -X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2008 an increase of X% against the previous year. Over the period under review, average export prices attained the maximum at $X per tonne in 2009; however, from 2010 to 2020, export prices failed to regain the momentum.

There were significant differences in the average prices for the major external markets. In 2020, the country with the highest price was Austria ($X per tonne), while the average price for exports to Moldova ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Albania, while the prices for the other major destinations experienced more modest paces of growth.

Silicone Imports

Imports into Bulgaria

In 2020, supplies from abroad of silicones (in primary forms) decreased by -X% to X tonnes, falling for the second year in a row after three years of growth. Overall, imports continue to indicate a pronounced shrinkage. The growth pace was the most rapid in 2017 when imports increased by X% y-o-y. Imports peaked at X tonnes in 2018; however, from 2019 to 2020, imports failed to regain the momentum.

In value terms, silicone imports fell significantly to $X in 2020. Over the period under review, imports continue to indicate a pronounced shrinkage. The growth pace was the most rapid in 2017 with an increase of X% y-o-y. Imports peaked at $X in 2018; however, from 2019 to 2020, imports remained at a lower figure.

Imports by Country

Germany (X tonnes), Turkey (X tonnes) and Italy (X tonnes) were the main suppliers of silicone imports to Bulgaria, with a combined X% share of total imports. These countries were followed by China, Belgium, the Netherlands, Austria, Poland and South Korea, which together accounted for a further X 2007 to 2020, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (+X% per year), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Turkey ($X) and Italy ($X) constituted the largest silicone suppliers to Bulgaria, together accounting for X% of total imports. These countries were followed by the Netherlands, China, Austria, Belgium, South Korea and Poland, which together accounted for a further X Korea saw the highest growth rate of 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 silicone import price stood at $X per tonne in 2020, picking up by X% against the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The pace of growth appeared the most rapid in 2008 an increase of X% y-o-y. As a result, import price reached the peak level of $X per tonne. From 2009 to 2020, the growth in terms of the average import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was the Netherlands ($X per tonne), while the price for China ($X per tonne) was amongst the lowest.

From 2007 to 2020, 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

Frequently Asked Questions (FAQ) :

What are the largest markets for silicones (in primary forms) in the world?

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The countries with the highest volumes of silicone consumption in 2020 were China (619K tonnes), Germany (379K tonnes) and the U.S. (251K tonnes), with a combined 44% share of global consumption. These countries were followed by India, Japan, Turkey, Indonesia, Belgium, the UK, Brazil, South Korea, France and Italy, which together accounted for a further 36%.

What are the largest producers of silicones (in primary forms) in the world?

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The countries with the highest volumes of silicone production in 2020 were China (725K tonnes), Germany (520K tonnes) and the U.S. (308K tonnes), with a combined 56% share of global production. These countries were followed by Japan, India, the UK, Turkey, Indonesia, France, Thailand and Brazil, which together accounted for a further 35%.

What are the leading suppliers of silicones (in primary forms) to Bulgaria?

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In value terms, Germany ($645K), Turkey ($590K) and Italy ($380K) appeared to be the largest silicone suppliers to Bulgaria, with a combined 66% share of total imports. These countries were followed by the Netherlands, China, Austria, Belgium, South Korea and Poland, which together accounted for a further 22%.

What are the leading importers of silicones (in primary forms) from Bulgaria?

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In value terms, the largest markets for silicone exported from Bulgaria were Macedonia ($154K), Serbia ($81K) and Greece ($50K), together comprising 58% of total exports. These countries were followed by Austria, Albania, the UK, Moldova, Italy, Germany, Turkey and Romania, which together accounted for a further 37%.

What is the average export price for silicones (in primary forms) in Bulgaria?

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In 2020, the average silicone export price amounted to $4,331 per tonne, which is down by -17.3% against the previous year.

What is the average import price for silicones (in primary forms) in Bulgaria?

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In 2020, the average silicone import price amounted to $6,390 per tonne, growing by 8.4% against the previous year.