Veneer sheets market in Bulgaria

Earlier Report Observations

In 2018, the veneer sheets market in Bulgaria was valued at 16.7 million USD, with the largest producer Lesoplast AD, part of the Austrian Welde group, investing in new veneer plants in Romania and Serbia, strengthening its regional footprint. MaxPly expanded production in Bulgaria and Ukraine and became the exclusive representative of a major Vietnamese manufacturer, introducing new products and technologies. By 2019, Plast Furnir OOD enlarged its warehouse bases in Sofia and Varna, improving nationwide distribution. However, the COVID-19 pandemic in 2020 caused global supply disruptions, leading to delays in raw materials and a drop in imports to 11.8 million USD.

Following the easing of restrictions in 2021, the recovery of production and logistics chains allowed manufacturers to increase output, while heightened competition from engineered veneer sheets and products with enhanced features stimulated the product range. The market size remained stable at 16.8 million USD. In 2022, global increases in raw material and energy prices significantly raised production costs and final product prices, driving the market's monetary value up to 20.2 million USD. Producers responded with investments in modernization and process optimization to mitigate cost pressures.

By 2023, the market grew to 21.9 million USD, despite a decline in domestic production and a sharp drop in exports. Imports slightly decreased but remained a key supply source. In 2024, both imports and exports fell substantially, indicating reduced trade activity, though full market size data for the year is not available.

Production veneer sheets in Bulgaria

In value, 2017-2020, K $ US

In 2018, Bulgaria's veneer sheets output was valued at 11 406 thousand US dollars, marking a significant increase of 29.1% compared to the previous year.

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

In kind, 2017-2020, K m³

Top producers of veneer sheets, 2017-2020

World map of production of veneer sheets, 2017-2020

In 2018, Bulgaria produced 18 thousand cubic meters of veneer sheets, representing a decrease of 9.9% from 2017. Over the 2017-2018 period, production grew by 22.4%, with a compound annual growth rate of 7.0%. The highest production level was recorded in 2019 at 20 thousand cubic meters, which saw the largest increase of 42.3%. In contrast, 2020 experienced the largest decline of 9.9%.

Annual dynamics of production in Bulgaria in kind, 2017-2020, K m³

Exports veneer sheets from Bulgaria

Exports in kind, m³

Following two years of growth, Bulgaria's veneer sheets export volumes declined. In 2020, exports totaled 16 867 cubic meters, showing a substantial year-on-year decrease of 18.6%. Over the 2017-2020 period, exports increased by 70.3%, with a compound annual growth rate of 19.4%. The peak export volume was recorded in 2019 at 20 724 cubic meters, while the largest increase occurred in 2018 at 56.4%.

Annual dynamics of product's exports from Bulgaria in kind, 2017-2020, m³

From 2017 to 2020, North Macedonia, Germany, and Greece were the primary buyers of Bulgarian veneer sheets by volume, accounting for 32.1%, 22.7%, and 19.2% of exports, respectively. Together, these three countries comprised 74.0% of total export volumes.

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

After two years of growth, the value of Bulgaria's veneer sheets exports declined. In 2020, export value reached 13 966 thousand US dollars, down 0.7% year-on-year. Over the 2017-2020 period, export value increased by 118.1%, with a compound annual growth rate of 29.7%. The highest export value was recorded in 2019 at 14 065 thousand US dollars, while the largest increase occurred in 2018 at 50.7%.

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

Throughout 2017-2020, Germany, Serbia, and Italy were the main markets for Bulgarian veneer sheets by value, accounting for 65.2%, 10.2%, and 6.5% of exports, respectively. Collectively, these three countries represented 81.9% 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 veneer sheets to Bulgaria

Imports in kind, m³

Import volumes of veneer sheets into Bulgaria showed irregular changes, reflecting a volatile market. From a low in 2017 to a high in 2019, imports varied by twofold. In 2020, imports totaled 95 476 cubic meters, marking a 30.5% decrease compared to 2019. The peak import volume was recorded in 2019 at 95 476 cubic meters, while the largest increase occurred in 2018 at 83.1%.

Annual dynamics of product's imports to Bulgaria in kind, 2017-2020, m³

Between 2017 and 2020, Romania and Germany were the key sources for Bulgaria's veneer sheets imports by volume, jointly accounting for 83.7% of total imports. Other trading partners individually contributed much smaller shares.

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 growth, the value of Bulgaria's veneer sheets imports declined. In 2020, import value amounted to 11 753 thousand US dollars, which is 23.0% lower than the previous year. Over the 2017-2020 period, import value decreased by 21.3%, with a compound annual growth rate of -7.7%. The highest import value was recorded in 2019 at 15 268 thousand US dollars, while the largest increase occurred in 2019 at 2.0%.

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

From 2017 to 2020, Romania, Germany, and Ukraine formed the main group of sources for Bulgaria's veneer sheets imports by value, accounting for 37.0%, 18.6%, and 14.2% of imports, respectively. Together, these three countries represented 69.8% 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