Compounded with carbon black or silica market in Bulgaria

Earlier Report Observations

Between 2018 and 2022, the Bulgarian market for unvulcanised rubber compounded with carbon black or silica experienced notable volatility. The market size dropped by approximately 34% from 13 253 thousand USD in 2018 to 8 782 thousand USD in 2019, then stabilized around 8 821 thousand USD in 2020 before rebounding to 11 856 thousand USD in 2022.

This trajectory was shaped by changes in domestic production, which fell by 27% in 2019 before recovering in subsequent years, alongside a decline in imports and a steady rise in exports over the period. By 2022, production had surpassed its 2018 level, reaching 10 019 thousand USD, while exports continued to grow, reaching 4 411 thousand USD.

Production compounded with carbon black or silica in Bulgaria

In value, 2017-2020, K $ US

In Bulgaria, the output value of compounded with carbon black or silica reached 8 241 K $ US in 2020, marking a solid year-over-year increase of 17.9%. Over the period from 2017 to 2020, production decreased by 3.5%, with a compound annual growth rate of 1.2%. The maximum value was recorded in 2018 at 9 639 K $ US, while the minimum occurred in 2019 at 6 989 K $ US. The largest decline was observed in 2019, with a drop of 27.5%.

Annual dynamics of production in Bulgaria in value, 2017-2020, K $ US

In kind, 2017-2020, t

In 2020, Bulgaria produced 2 610 t of compounded with carbon black or silica, representing a 17.8% increase compared to the previous year. From 2017 to 2020, production decreased by 9.9%, which translates to an annualized rate of 3.4%. The maximum production volume was recorded in 2018 at 3 127 t, and the minimum in 2019 at 2 215 t. The largest decline occurred in 2019, with a decrease of 29.2%.

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

Exports compounded with carbon black or silica from Bulgaria

Exports in kind, t

Exports of compounded with carbon black or silica from Bulgaria have increased for the third consecutive year. In 2020, Bulgaria exported 1 551 t, showing a dramatic rise of 49.9% compared to 2019. Between 2017 and 2020, exports grew by 149.8%, equating to an annualized rate of 35.7%.

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

From 2017 to 2020, the main destinations for Bulgaria's exports of compounded with carbon black or silica in kind were Greece, accounting for 50.2% of exports, Turkey with 24.0%, and Germany at 10.5%. Together, these three countries represented 84.8% of total export flows.

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

Export shipments of compounded with carbon black or silica from Bulgaria have risen for the third year in a row. In 2020, Bulgaria exported 4 136 K $ US worth of these goods, which is 44.3% higher than in 2019. Over the period from 2017 to 2020, exports increased by 109.3%, corresponding to an annualized rate of 27.9%.

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

Between 2017 and 2020, Greece, Turkey, and Germany were the primary destinations for Bulgaria's exports of compounded with carbon black or silica in value terms. Greece accounted for 43.4% of exports, Turkey for 22.2%, and Germany for 18.4%. Collectively, these three markets made up 84.0% 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 compounded with carbon black or silica to Bulgaria

Imports in kind, t

In 2020, Bulgaria's imports of compounded with carbon black or silica reached 1 990 t, indicating a controlled increase of 4.9% from the previous year. From 2017 to 2020, imports grew by 5.6%, with a compound annual growth rate of 1.8%. The maximum import volume was recorded in 2018 at 2 207 t. The largest decline occurred in 2019, with a drop of 14.1%, while the largest increase was in 2018, with a rise of 17.2%.

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

Throughout 2017 to 2020, Italy, the Netherlands, and Spain were the key partners for Bulgaria's imports of compounded with carbon black or silica in kind. Italy accounted for 41.5% of imports, the Netherlands for 29.4%, and Spain for 19.4%. Together, these three countries represented 90.3% 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

In 2020, Bulgaria's imports of compounded with carbon black or silica were valued at 4 716 K $ US, showing a slight improvement of 1.2% year-over-year. Between 2017 and 2020, imports decreased by 14%, equating to an annualized rate of 4.9%. The maximum value was recorded in 2018 at 6 228 K $ US, and the minimum in 2019 at 4 659 K $ US. The largest decline was in 2019, with a decrease of 25.2%, while the largest increase occurred in 2018, with a rise of 13.6%.

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

From 2017 to 2020, Italy, Spain, and the Netherlands remained the main markets for Bulgaria's imports of compounded with carbon black or silica in value terms. Italy accounted for 57.7% of imports, Spain for 18.1%, and the Netherlands for 13.3%. Collectively, these three countries took 89.1% of total import flows.

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

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