Bulgaria: Market for Wood Residues, Pellets And Other Agglomerates 2024

Market Size for Wood Residues, Pellets And Other Agglomerates in Bulgaria

For the third consecutive year, the Bulgarian market for wood residues, pellets and other agglomerates recorded growth in sales value, which increased by X% to $X in 2022. Overall, consumption recorded a buoyant expansion. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the near future.

Production of Wood Residues, Pellets And Other Agglomerates in Bulgaria

In value terms, production of wood residues, pellets and other agglomerates expanded rapidly to $X in 2022 estimated in export price. Overall, production enjoyed a prominent expansion. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Production of peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

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Exports of Wood Residues, Pellets And Other Agglomerates

Exports from Bulgaria

In 2022, shipments abroad of wood residues, pellets and other agglomerates was finally on the rise to reach X cubic meters for the first time since 2019, thus ending a two-year declining trend. In general, exports showed a perceptible increase. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The exports peaked at X cubic meters in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, exports of wood residues, pellets and other agglomerates soared to $X in 2022. Over the period under review, exports enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2014 when exports increased by X%. The exports peaked in 2022 and are likely to continue growth in the near future.

Exports by Country

Greece (X cubic meters) was the main destination for exports of wood residues, pellets and other agglomerates from Bulgaria, accounting for a X% share of total exports. Moreover, exports of wood residues, pellets and other agglomerates to Greece exceeded the volume sent to the second major destination, Italy (X cubic meters), fourfold.

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

In value terms, Greece ($X) remains the key foreign market for wood residues, pellets and other agglomerates exports from Bulgaria, comprising X% of total exports. The second position in the ranking was taken by Italy ($X), with an X% share of total exports.

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

Export Prices by Country

In 2022, the average export price for wood residues, pellets and other agglomerates amounted to $X per cubic meter, growing by X% against the previous year. Over the period under review, the export price showed a remarkable increase. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

Average prices varied somewhat for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Greece ($X per cubic meter), while the average price for exports to North Macedonia ($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 Greece (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wood Residues, Pellets And Other Agglomerates

Imports into Bulgaria

In 2022, the amount of wood residues, pellets and other agglomerates imported into Bulgaria soared to X cubic meters, growing by X% against the previous year's figure. In general, imports saw a significant expansion. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, imports of wood residues, pellets and other agglomerates soared to $X in 2022. Over the period under review, imports recorded a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, imports of attained the maximum in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Turkey (X cubic meters) constituted the largest supplier of wood residues, pellets and other agglomerates to Bulgaria, accounting for a X% share of total imports. Moreover, imports of wood residues, pellets and other agglomerates from Turkey exceeded the figures recorded by the second-largest supplier, Romania (X cubic meters), twofold. The third position in this ranking was taken by Ukraine (X cubic meters), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms 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 Ukraine (X% per year).

In value terms, the largest wood residues, pellets and other agglomerates suppliers to Bulgaria were Turkey ($X), Romania ($X) and Ukraine ($X), together accounting for X% of total imports.

In terms of the main suppliers, Turkey, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for wood residues, pellets and other agglomerates stood at $X per cubic meter in 2022, approximately mirroring the previous year. In general, import price indicated a temperate 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, import price for wood residues, pellets and other agglomerates increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 an increase of 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 the near future.

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 Greece ($X per cubic meter), while the price for Turkey ($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 Romania (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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