Bulgaria: Sodium Nitrate Market 2022

Sodium Nitrate Market Size in Bulgaria

The Bulgarian sodium nitrate market skyrocketed to $X in 2021, jumping by X% against the previous year. Overall, consumption saw a strong expansion. Over the period under review, the market hit record highs in 2021 and is expected to retain growth in years to come.

Sodium Nitrate Production in Bulgaria

In value terms, sodium nitrate production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +X% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2016 with an increase of X%. Sodium nitrate production peaked at $X in 2017; afterwards, it flattened through to 2021.

Sodium Nitrate Exports

Exports from Bulgaria

In 2021, approx. X tons of sodium nitrate were exported from Bulgaria; with a decrease of -X% against the previous year's figure. In general, exports saw a sharp contraction. The pace of growth appeared the most rapid in 2019 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, sodium nitrate exports fell significantly to $X in 2021. Over the period under review, exports continue to indicate a significant curtailment. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Greece (X tons), Serbia (X tons) and North Macedonia (X tons) were the main destinations of sodium nitrate exports from Bulgaria, together accounting for X% of total exports.

From 2012 to 2021, the biggest increases were in North Macedonia (with a CAGR of +X%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Greece ($X), Serbia ($X) and North Macedonia ($X) were the largest markets for sodium nitrate exported from Bulgaria worldwide, with a combined X% share of total exports.

North Macedonia, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of exports, in terms of 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 2021, the average sodium nitrate export price amounted to $X per ton, picking up by X% against the previous year. Overall, the export price recorded strong growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably for the major foreign markets. In 2021, the countries with the highest prices were Greece ($X per ton) and North Macedonia ($X per ton), while the average price for exports to Serbia ($X per ton) and Romania ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Romania (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Sodium Nitrate Imports

Imports into Bulgaria

In 2021, overseas purchases of sodium nitrate were finally on the rise to reach X tons after two years of decline. Overall, imports posted a significant increase. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, sodium nitrate imports soared to $X in 2021. In general, imports posted prominent growth. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Imports peaked in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Latvia (X tons) constituted the largest supplier of sodium nitrate to Bulgaria, with a X% share of total imports. Moreover, sodium nitrate imports from Latvia exceeded the figures recorded by the second-largest supplier, Russia (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2021, the average annual growth rate of volume from Latvia stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+X% per year) and Germany (+X% per year).

In value terms, Latvia ($X) constituted the largest supplier of sodium nitrate to Bulgaria, comprising X% of total imports. The second position in the ranking was taken by Germany ($X), with a X% share of total imports. It was followed by Russia, with a X% share.

From 2012 to 2021, the average annual growth rate of value from Latvia amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+X% per year) and Russia (+X% per year).

Import Prices by Country

The average sodium nitrate import price stood at $X per ton in 2021, reducing by -X% against the previous year. In general, the import price showed a pronounced reduction. The most prominent rate of growth was recorded in 2015 when the average import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform