Bulgaria: Wood-Based Panels Market 2024

Wood-Based Panels Market Size in Bulgaria

In 2022, the Bulgarian wood-based panels market increased by X% to $X, rising for the second consecutive year after two years of decline. Over the period under review, consumption enjoyed buoyant growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Wood-Based Panels Production in Bulgaria

In value terms, wood-based panels production shrank to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X, and then shrank in the following year.

Wood-Based Panels Exports

Exports from Bulgaria

In 2022, shipments abroad of wood-based panels decreased by X% to X cubic meters for the first time since 2018, thus ending a three-year rising trend. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports reached the peak of X cubic meters, and then declined significantly in the following year.

In value terms, wood-based panels exports rose remarkably to $X in 2022. Over the period under review, total exports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

Exports by Country

Greece (X cubic meters), Italy (X cubic meters) and Algeria (X cubic meters) were the main destinations of wood-based panels exports from Bulgaria, together comprising X% of total exports. Romania, Serbia, North Macedonia, Saudi Arabia, Cyprus, Tunisia, Kosovo, Germany and Turkey lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Saudi Arabia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Greece ($X), Italy ($X) and Germany ($X) constituted the largest markets for wood-based panels exported from Bulgaria worldwide, with a combined X% share of total exports. Algeria, Romania, Serbia, North Macedonia, Saudi Arabia, Cyprus, Kosovo, Tunisia and Turkey lagged somewhat behind, together accounting for a further X%.

Saudi Arabia, with a CAGR of X%, saw the highest growth rate of 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 2022, the average wood-based panels export price amounted to $X per cubic meter, surging by X% against the previous year. Over the period under review, export price indicated a pronounced expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, wood-based panels export price increased by X% against 2018 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per cubic meter), while the average price for exports to Algeria ($X per cubic meter) was amongst the lowest.

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

Wood-Based Panels Imports

Imports into Bulgaria

In 2022, wood-based panels imports into Bulgaria surged to X cubic meters, growing by X% compared with the previous year's figure. In general, total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, wood-based panels imports skyrocketed to $X in 2022. Over the period under review, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Turkey (X cubic meters) constituted the largest wood-based panels supplier to Bulgaria, accounting for a X% share of total imports. Moreover, wood-based panels imports from Turkey exceeded the figures recorded by the second-largest supplier, Romania (X cubic meters), twofold. China (X cubic meters) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Turkey stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (X% per year) and China (X% per year).

In value terms, the largest wood-based panels suppliers to Bulgaria were Turkey ($X), Romania ($X) and Germany ($X), with a combined X% share of total imports.

Turkey, with a CAGR of X%, recorded 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

The average wood-based panels import price stood at $X per cubic meter in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average import price increased by X% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Czech Republic ($X per cubic meter), while the price for Turkey ($X per cubic meter) was amongst the lowest.

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

Source: IndexBox Platform

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