Rubber gaskets, washers and seals market in Bulgaria

Earlier Report Observations

Between 2018 and 2024, the Bulgarian market for rubber gaskets, washers and seals showed contrasting trends in physical volume and monetary value. The market's physical volume, measured in tonnes, fluctuated significantly, falling from 2 698 t in 2018 to 1 898 t in 2022 after a temporary recovery in 2021. In contrast, the market's value demonstrated consistent growth, rising from 27.6 million USD in 2018 to 39.7 million USD in 2024.

A key development occurred in 2022 when global natural rubber prices reached a four-year peak. This increase in a crucial raw material raised production costs across the industry, which contributed to higher product prices. This factor helps explain the sustained growth in market value during that year, even as the physical volume available domestically declined.

Over the full period, Bulgarian production and export volumes for these rubber components were notably strong, with exports growing from 5 291 t in 2018 to 7 206 t in 2024. This expansion in external demand supported the industry's overall activity level, while the domestic market's value continued to expand.

Production rubber gaskets, washers and seals in Bulgaria

In value, 2017-2020, K $ US

Bulgaria's production of rubber gaskets, washers, and seals declined for the second year in a row. In 2020, output was valued at 44 027 thousand US dollars, a 4.3% drop from 2019. From 2018 to 2020, production fell by 16.5%, which translates to an annualized decline of 5.8%.

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

In kind, 2017-2020, t

In 2020, Bulgaria produced 5 306 tonnes of rubber gaskets, washers, and seals, marking a gradual decline of 7.8% compared to the previous year.

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

Exports rubber gaskets, washers and seals from Bulgaria

Exports in kind, t

Exports of rubber gaskets, washers, and seals from Bulgaria fell for the third consecutive year. In 2020, exports totaled 4 618 tonnes, down 3.8% from 2019. Between 2017 and 2020, exports decreased by 28.1%, with an annualized rate of 10.4%.

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

From 2017 to 2020, Poland, Germany, and Serbia were the top destinations for Bulgaria's exports in kind. Poland accounted for 28.6% of exports, Germany for 23.0%, and Serbia for 12.0%, together making up 63.6% 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

The value of rubber gaskets, washers, and seals exported from Bulgaria dropped for the third year in a row. In 2020, exports reached 42 415 thousand US dollars, a moderate decrease of 4.9% from the previous year. Over the period from 2017 to 2020, exports fell by 23.6%, with a compound annual growth rate of -8.6%.

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

Between 2017 and 2020, Poland, Germany, and the United Kingdom were the leading markets for Bulgaria's exports in value terms. Poland represented 31.9% of exports, Germany 19.7%, and the United Kingdom 11.7%, collectively accounting for 63.3% of total export flows.

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

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

Imports rubber gaskets, washers and seals to Bulgaria

Imports in kind, t

After two years of decline, imports of rubber gaskets, washers, and seals into Bulgaria increased in 2020, reaching 1 426 tonnes, a gradual rise of 4.4% from the previous year. However, from 2017 to 2020, imports decreased by 59.7%, with an annualized rate of 26.1%. The lowest point was in 2019 at 1 366 tonnes, which saw the largest decline of 38.8%.

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

From 2017 to 2020, Turkey, France, and Germany were the main suppliers of rubber gaskets, washers, and seals to Bulgaria in kind. Turkey contributed 30.2% of imports, France 28.6%, and Germany 12.5%, together representing 71.3% 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

Bulgaria's imports of rubber gaskets, washers, and seals in value terms declined for the second consecutive year. In 2020, imports amounted to 22 281 thousand US dollars, a 3.9% drop from the year before. Between 2017 and 2020, imports decreased by 4.2%, with an annualized rate of 1.4%. The highest value was recorded in 2018 at 25 272 thousand US dollars, which saw the largest increase of 8.6%, while the largest decline occurred in 2019 at 8.3%.

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

An analysis of imports in value terms from 2017 to 2020 reveals a broad distribution across many markets. Germany accounted for 21.5% of imports, Turkey for 14.3%, and France for 14.1%, together making up 50.0% of total flows, with the remaining 50.0% spread among other partners.

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

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