Bulgaria: Synthetic Rubber Market 2024

Synthetic Rubber Market Size in Bulgaria

The Bulgarian synthetic rubber market expanded remarkably to $X in 2022, surging by X% against the previous year. Over the period under review, consumption, however, recorded a abrupt descent. Synthetic rubber consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Synthetic Rubber Production in Bulgaria

In value terms, synthetic rubber production soared to $X in 2022 estimated in export price. In general, production, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Synthetic Rubber Exports

Exports from Bulgaria

In 2022, approx. X tons of synthetic rubber were exported from Bulgaria; increasing by X% compared with the previous year. In general, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, synthetic rubber exports soared to $X in 2022. Overall, exports showed a prominent expansion. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

The United Arab Emirates (X tons) was the main destination for synthetic rubber exports from Bulgaria, accounting for a X% share of total exports. Moreover, synthetic rubber exports to the United Arab Emirates exceeded the volume sent to the second major destination, Serbia (X tons), threefold. The third position in this ranking was taken by Greece (X tons), with a X% share.

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

In value terms, the United Arab Emirates ($X) remains the key foreign market for synthetic rubber exports from Bulgaria, comprising X% of total exports. The second position in the ranking was held by Serbia ($X), with a X% share of total exports. It was followed by Greece, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (X% per year) and Greece (X% per year).

Export Prices by Country

The average synthetic rubber export price stood at $X per ton in 2022, increasing by X% against the previous year. In general, the export price, however, recorded a perceptible decrease. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

Synthetic Rubber Imports

Imports into Bulgaria

In 2022, synthetic rubber imports into Bulgaria amounted to X tons, stabilizing at the previous year. Overall, imports posted a remarkable increase. The most prominent rate of growth was recorded in 2019 when imports increased by X%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, synthetic rubber imports rose markedly to $X in 2022. Over the period under review, imports showed a strong increase. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports by Country

Poland (X tons), the Netherlands (X tons) and Russia (X tons) were the main suppliers of synthetic rubber 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 Poland (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Netherlands ($X), Poland ($X) and Turkey ($X) were the largest synthetic rubber suppliers to Bulgaria, together comprising X% of total imports.

Poland, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2022, the average synthetic rubber import price amounted to $X per ton, increasing by X% against the previous year. In general, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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