Chemical wood pulp market in Bulgaria

Earlier Report Observations

Between 2018 and 2020, production of chemical wood pulp in Bulgaria declined from 232.1 thousand tons to 200.6 thousand tons. Market volume fluctuated during this period, reaching a peak of 147.2 thousand tons in 2020.

In 2021, production stabilized at 200.6 thousand tons following the shutdown of the country's largest pulp plant due to a shortage of wood raw material, which constrained operational capacity. A sharp increase in wood prices, driven by speculation and supply shortages, raised production costs. These developments contributed to a reduction in market volume to 115.5 thousand tons that year. Production remained unchanged in 2022, while market volume saw a slight increase to 116.0 thousand tons.

Market volume recovered to 132.1 thousand tons in 2023 under stable production. New environmental standards, including stricter limits on sulfur dioxide emissions for pulp and paper installations, began to affect production processes. For 2024, the market is influenced by EU regulatory measures such as the Carbon Border Adjustment Mechanism and global factors including shifts in pulp prices linked to international demand and supply capacity changes.

Production chemical wood pulp in Bulgaria

In kind, 2017-2020, K t

Between 2017 and 2020, Bulgaria ranked as the 29th largest producer of chemical wood pulp globally.

Top producers of chemical wood pulp, 2017-2020

World map of production of chemical wood pulp, 2017-2020

Bulgaria's chemical wood pulp production declined for the second year in a row. In 2020, the country produced 201 K t, marking a significant 12.1% drop from 2019. Over the 2017-2020 period, production fell by 11%, averaging an annual decrease of 3.8%. The highest output was in 2018 at 232 K t, which also saw the largest increase of 3.0%.

Annual dynamics of production in Bulgaria in kind, 2017-2020, K t

Exports chemical wood pulp from Bulgaria

Exports in kind, K t

Following two years of growth, Bulgaria's chemical wood pulp exports fell. In 2020, exports totaled 65.8 K t, a sharp 41.6% decline from the previous year. From 2017 to 2020, exports dropped by 38.9%, with an average annual rate of 15.1%. The peak was in 2019 at 112.7 K t, while the largest increase occurred in 2018 at 4.0%.

Annual dynamics of product's exports from Bulgaria in kind, 2017-2020, K t

From 2017 to 2020, Turkey, Romania, and Serbia were Bulgaria's top buyers of chemical wood pulp by volume. Turkey accounted for 31.9% of exports, Romania for 19.3%, and Serbia for 10.3%, together making up 61.6% of total exports.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Bulgaria in kind, 2017-2020

Exports in value, K $ US

Bulgaria's chemical wood pulp export value declined for the second consecutive year. In 2020, exports amounted to 32 089 K $ US, reflecting a sharp 50.0% fall from 2019. Over the 2017-2020 period, exports decreased by 49%, with a compound annual growth rate of -20.1%. The highest value was recorded in 2018 at 83 525 K $ US, which also saw the largest increase of 32.7%.

Annual dynamics of product's exports from Bulgaria in value, 2017-2020, K $ US

From 2017 to 2020, Turkey, Romania, and Serbia remained the leading buyers of Bulgarian chemical wood pulp by value. Turkey represented 31.9% of exports, Romania 18.9%, and Serbia 9.4%, collectively accounting for 60.2% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Bulgaria in value, 2017-2020

Imports chemical wood pulp to Bulgaria

Imports in kind, K t

Bulgaria's chemical wood pulp imports rose for the second year in a row. In 2020, imports reached approximately 12.4 K t, a significant 16.0% increase from the previous year. However, over the 2017-2020 period, imports decreased by 8.5%, averaging an annual decline of 2.9%. The lowest volume was in 2018 at 9.1 K t, which saw the largest drop of 32.6%, while the biggest increase was in 2019 at 17.0%.

Annual dynamics of product's imports to Bulgaria in kind, 2017-2020, K t

Between 2017 and 2020, Greece, Italy, and Germany consistently led Bulgaria's chemical wood pulp imports by volume. Greece accounted for 43.2% of imports, Italy for 18.2%, and Germany for 9.7%, together representing 71.2% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Bulgaria in kind, 2017-2020

Imports in value, K $ US

After two years of decline, Bulgaria's chemical wood pulp import value increased. In 2020, imports totaled 7 908 K $ US, up 2.6% from the previous year. Over the 2017-2020 period, imports fell by 19.4%, with an average annual decrease of 6.9%. The lowest value was in 2019 at 7 705 K $ US, and the largest decline occurred in 2018 at 12.6%.

Annual dynamics of product's imports to Bulgaria in value, 2017-2020, K $ US

From 2017 to 2020, Greece, Italy, and Germany were the top sources for Bulgaria's chemical wood pulp imports by value. Greece made up 41.0% of imports, Italy 15.9%, and Germany 15.7%, jointly accounting for 72.6% of total import value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Bulgaria in value, 2017-2020