Bulgaria: Synthetic Yarn Market 2024

Synthetic Yarn Market Size in Bulgaria

In 2023, the Bulgarian synthetic yarn market increased by X% to $X, rising for the second year in a row after four years of decline. Overall, consumption showed a slight contraction. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2023, consumption failed to regain momentum.

Synthetic Yarn Production in Bulgaria

In value terms, synthetic yarn production soared to $X in 2023 estimated in export price. Over the period under review, production continues to indicate a drastic downturn. Synthetic yarn production peaked at $X in 2014; however, from 2015 to 2023, production stood at a somewhat lower figure.

Synthetic Yarn Exports

Exports from Bulgaria

In 2023, approx. X tons of yarn of synthetic or artificial staple fibers were exported from Bulgaria; waning by X% compared with the previous year. Over the period under review, total exports indicated a slight increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2022 to 2023, the growth of the exports failed to regain momentum.

In value terms, synthetic yarn exports fell remarkably to $X in 2023. In general, exports recorded a perceptible slump. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

Exports by Country

Romania (X tons) was the main destination for synthetic yarn exports from Bulgaria, with a X% share of total exports. Moreover, synthetic yarn exports to Romania exceeded the volume sent to the second major destination, Italy (X tons), fourfold. The third position in this ranking was held by Turkey (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Romania amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (X% per year) and Turkey (X% per year).

In value terms, Italy ($X), Romania ($X) and Germany ($X) were the largest markets for synthetic yarn exported from Bulgaria worldwide, together accounting for X% of total exports. Turkey, Greece, Spain, Poland, Cyprus and the UK lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Cyprus, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average synthetic yarn export price stood at $X per ton in 2023, rising by X% against the previous year. Overall, the export price, however, continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2018 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2023, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2023, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Cyprus ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Poland (X%), while the prices for the other major destinations experienced more modest paces of growth.

Synthetic Yarn Imports

Imports into Bulgaria

After two years of growth, overseas purchases of yarn of synthetic or artificial staple fibers decreased by X% to X tons in 2023. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X tons in 2022, and then reduced rapidly in the following year.

In value terms, synthetic yarn imports dropped dramatically to $X in 2023. In general, imports continue to indicate a mild slump. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. Imports peaked at $X in 2022, and then shrank significantly in the following year.

Imports by Country

In 2023, Turkey (X tons) constituted the largest supplier of synthetic yarn to Bulgaria, accounting for a X% share of total imports. Moreover, synthetic yarn imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Italy (X tons) ranked third in terms of total imports with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from Turkey was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Italy (X% per year).

In value terms, Turkey ($X), Italy ($X) and China ($X) constituted the largest synthetic yarn suppliers to Bulgaria, with a combined X% share of total imports.

China, 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

In 2023, the average synthetic yarn import price amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price, however, continues to indicate a slight decline. The import price peaked at $X per ton in 2013; however, from 2014 to 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Russia ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Russia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform