Report Bulgaria - Urea - Market Analysis, Forecast, Size, Trends and Insights for 499$
Latest Report Update: Jan 30, 2023

Bulgaria - Urea - Market Analysis, Forecast, Size, Trends and Insights

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Bulgaria: Urea Market 2023

Urea Market Size in Bulgaria

The Bulgarian urea market soared to $X in 2021, rising by 100% against the previous year. In general, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Urea Production in Bulgaria

In value terms, urea production skyrocketed to $X in 2021 estimated in export price. In general, production, however, recorded a significant increase. The growth pace was the most rapid in 2017 with an increase of 75% against the previous year. Urea production peaked in 2021 and is likely to continue growth in the near future.

Urea Exports

Exports from Bulgaria

In 2021, approx. X tons of urea were exported from Bulgaria; dropping by -34.4% on the previous year's figure. In general, exports, however, saw a prominent expansion. The growth pace was the most rapid in 2016 with an increase of 222% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, urea exports amounted to $X in 2021. Over the period under review, exports, however, continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2016 with an increase of 188%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Romania (X tons) was the main destination for urea exports from Bulgaria, accounting for a 60% share of total exports. Moreover, urea exports to Romania exceeded the volume sent to the second major destination, Greece (X tons), threefold. The third position in this ranking was held by North Macedonia (X tons), with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Romania amounted to +36.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+1.4% per year) and North Macedonia (+25.6% per year).

In value terms, Romania ($X) remains the key foreign market for urea exports from Bulgaria, comprising 62% of total exports. The second position in the ranking was taken by Greece ($X), with an 18% share of total exports. It was followed by North Macedonia, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Romania totaled +35.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (-3.5% per year) and North Macedonia (+25.7% per year).

Export Prices by Country

The average urea export price stood at $X per ton in 2021, rising by 54% against the previous year. In general, the export price, however, showed a noticeable slump. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2021, the highest price was recorded for prices to Italy ($X per ton) and North Macedonia ($X per ton), while the average price for exports to Greece ($X per ton) and Serbia ($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 Serbia (+3.7%), while the prices for the other major destinations experienced mixed trend patterns.

Urea Imports

Imports into Bulgaria

In 2021, urea imports into Bulgaria skyrocketed to X tons, rising by 36% on 2020. Over the period under review, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -6.4% against 2019 indices. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, urea imports soared to $X in 2021. Overall, total imports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Turkmenistan (X tons), Egypt (X tons) and Georgia (X tons) were the main suppliers of urea imports to Bulgaria, together comprising 63% of total imports. Russia, Ukraine, Romania, Azerbaijan, Latvia, Austria and Iran lagged somewhat behind, together comprising a further 41%.

From 2012 to 2021, the biggest increases were recorded for Latvia (with a CAGR of +58.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkmenistan ($X), Egypt ($X) and Ukraine ($X) appeared to be the largest urea suppliers to Bulgaria, with a combined 60% share of total imports. These countries were followed by Russia, Georgia, Romania, Azerbaijan, Latvia, Austria and Iran, which together accounted for a further 31%.

Latvia, with a CAGR of +58.0%, 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

In 2021, the average urea import price amounted to $X per ton, picking up by 87% against the previous year. Overall, the import price showed a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Ukraine ($X per ton), while the price for Georgia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Azerbaijan (+31.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Base Year Historical Period Forecast Period Units
2022 2012-2022 2023-2030 US$, Tons

Frequently Asked Questions (FAQ) :

What are the largest markets for urea in the world?
+
India constituted the country with the largest volume of urea consumption, accounting for 24% of total volume. Moreover, urea consumption in India exceeded the figures recorded by the second-largest consumer, China, threefold. The United States ranked third in terms of total consumption with a 6.3% share.
What are the largest producers of urea in the world?
+
The countries with the highest volumes of production in 2021 were India, China and Russia, together accounting for 36% of global production. These countries were followed by Iran, Indonesia, Pakistan, Qatar, Nigeria, Egypt, Saudi Arabia, Canada, Oman and Algeria, which together accounted for a further 40%.
What are the leading suppliers of urea to Bulgaria?
+
In value terms, Turkmenistan, Egypt and Ukraine were the largest urea suppliers to Bulgaria, together accounting for 60% of total imports. These countries were followed by Russia, Georgia, Romania, Azerbaijan, Latvia, Austria and Iran, which together accounted for a further 31%.
What are the leading importers of urea from Bulgaria?
+
In value terms, Romania remains the key foreign market for urea exports from Bulgaria, comprising 62% of total exports. The second position in the ranking was taken by Greece, with an 18% share of total exports. It was followed by North Macedonia, with a 12% share.
What is the average export price for urea in Bulgaria?
+
In 2021, the average urea export price amounted to $463 per ton, jumping by 54% against the previous year.
What is the average import price for urea in Bulgaria?
+
The average urea import price stood at $474 per ton in 2021, jumping by 87% against the previous year.

This report provides an in-depth analysis of the urea market in Bulgaria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.


Product coverage:
• FCL 4001 -
Country coverage:
• Bulgaria

Data coverage:
• Market volume and value
• Per Capita consumption
• Forecast of the market dynamics in the medium term
• Trade (exports and imports) in Bulgaria
• Export and import prices
• Market trends, drivers and restraints
• Key market players and their profiles

Reasons to buy this report:
• Take advantage of the latest data
• Find deeper insights into current market developments
• Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:
1. How to diversify your business and benefit from new market opportunities
2. How to load your idle production capacity
3. How to boost your sales on overseas markets
4. How to increase your profit margins
5. How to make your supply chain more sustainable
6. How to reduce your production and supply chain costs
7. How to outsource production to other countries
8. How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
REPORT DESCRIPTION
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2012–2022
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2012–2022
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2022
Table 2:
Market Volume, In Physical Terms, 2012–2022
Table 3:
Market Value, 2012–2022
Table 4:
Per Capita Consumption In 2007-2022
Table 5:
Imports, In Physical Terms, By Country, 2012–2022
Table 6:
Imports, In Value Terms, By Country, 2012–2022
Table 7:
Import Prices, By Country Of Origin, 2012–2022
Table 8:
Exports, In Physical Terms, By Country, 2012–2022
Table 9:
Exports, In Value Terms, By Country, 2012–2022
Table 10:
Export Prices, By Country Of Destination, 2012–2022
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2012–2022
Figure 2:
Market Value, 2012–2022
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2007-2022
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2007-2022
Figure 5:
Trade Balance, In Physical Terms, 2007-2022
Figure 6:
Trade Balance, In Value Terms, 2007-2022
Figure 7:
Per Capita Consumption, 2007-2022
Figure 8:
Market Forecast To 2030
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2012–2022
Figure 21:
Production, In Value Terms, 2012–2022
Figure 22:
Imports, In Physical Terms, 2012–2022
Figure 23:
Imports, In Value Terms, 2012–2022
Figure 24:
Imports, In Physical Terms, By Country, 2022
Figure 25:
Imports, In Physical Terms, By Country, 2012–2022
Figure 26:
Imports, In Value Terms, By Country, 2012–2022
Figure 27:
Import Prices, By Country Of Origin, 2012–2022
Figure 28:
Exports, In Physical Terms, 2012–2022
Figure 29:
Exports, In Value Terms, 2012–2022
Figure 30:
Exports, In Physical Terms, By Country, 2022
Figure 31:
Exports, In Physical Terms, By Country, 2012–2022
Figure 32:
Exports, In Value Terms, By Country, 2012–2022
Figure 33:
Export Prices, By Country Of Destination, 2012–2022
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