Bulgaria: Stainless Steel Sink Market 2024

Stainless Steel Sink Market Size in Bulgaria

The Bulgarian stainless steel sink market was finally on the rise to reach $X in 2022, after two years of decline. Overall, consumption, however, recorded a abrupt downturn. Stainless steel sink consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Stainless Steel Sink Production in Bulgaria

In value terms, stainless steel sink production amounted to $X in 2022 estimated in export price. Overall, production, however, showed a resilient expansion. The growth pace was the most rapid in 2015 with an increase of X%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Stainless Steel Sink Exports

Exports from Bulgaria

Stainless steel sink exports from Bulgaria contracted remarkably to X units in 2022, dropping by X% compared with the previous year. Overall, exports, however, continue to indicate a moderate increase. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X units, and then fell rapidly in the following year.

In value terms, stainless steel sink exports contracted significantly to $X in 2022. In general, exports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then shrank notably in the following year.

Exports by Country

Italy (X units) was the main destination for stainless steel sink exports from Bulgaria, accounting for a X% share of total exports. Moreover, stainless steel sink exports to Italy exceeded the volume sent to the second major destination, North Macedonia (X units), twofold. Spain (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: North Macedonia (X% per year) and Spain (X% per year).

In value terms, Italy ($X) emerged as the key foreign market for stainless steel sinks and wash basins exports from Bulgaria, comprising X% of total exports. The second position in the ranking was held by Spain ($X), with a X% share of total exports. It was followed by the Netherlands, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Italy stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (X% per year) and the Netherlands (X% per year).

Export Prices by Country

In 2022, the average stainless steel sink export price amounted to $X per unit, picking up by X% against the previous year. In general, the export price posted a prominent increase. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was the Netherlands ($X per unit), while the average price for exports to Serbia ($X per unit) was amongst the lowest.

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

Stainless Steel Sink Imports

Imports into Bulgaria

In 2022, overseas purchases of stainless steel sinks and wash basins decreased by X% to X units, falling for the third year in a row after three years of growth. In general, imports showed a abrupt setback. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, stainless steel sink imports amounted to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

China (X units), Hong Kong SAR (X units) and Turkey (X units) were the main suppliers of stainless steel sink imports to Bulgaria, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Hong Kong SAR (with a CAGR of X%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest stainless steel sink suppliers to Bulgaria were China ($X), Hong Kong SAR ($X) and Turkey ($X), together comprising X% of total imports.

Hong Kong SAR, with a CAGR of X%, saw the highest growth rate of the value of imports, among 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 stainless steel sink import price stood at $X per unit in 2022, jumping by X% against the previous year. In general, the import price posted significant growth. The growth pace was the most rapid in 2020 when the average import price increased by X%. The import price peaked in 2022 and is likely to continue growth in years to come.

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 Germany ($X per unit), while the price for the UK ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :