New market study, "Bulgaria Petrochemicals Report 2017", has been published

Recently published research from Business Monitor International, “Bulgaria Petrochemicals Report 2017”, is now available at Fast Market Research

New market study, "Bulgaria Petrochemicals Report 2017", has been published 2016-12-29 13:04:46

The Bulgarian petrochemicals industry is set to remain small and uncompetitive over the next five years with little foreign interest in investing in a high-risk business environment. While polymer production has been boosted by the decline in naphtha prices, the fertiliser sector remains vulnerable to supply-side shocks in the form of gas feedstock restrictions from Russia. As such, growth in petrochemicals consumption is likely to be increasingly served by imports.

The index for rubber and plastic output grew by an average of 8.6% y-o-y in the January-September period of 2016, while chemicals output grew 1.1% y-o-y. This compares with overall manufacturing growth of 4.0%. The rubber and plastic growth rates improved on 2015 output growth, which came out at 4.8%, while chemicals were at 2.9% growth. Overall, Bulgaria experienced high growth relative to regional peers, but from a low base, with olefins capacities of 300,000 tonnes per annum (tpa) ethylene, 80,000tpa propylene and 50,000tpa butadiene and polymer capacities of 120,000tpa polyethylene and 80,000tpa of polypropylene.

Full Report Details at ..

Petrochemicals output will be highly affected by refinery run rates. The country’s sole refinery – with a capacity of 195,400 barrels per day (b/d) – has undergone upgrades that improve efficiency, but it is still exposed to Russian energy politics, as 95% of its crude supply comes from Russia. With 90% of petrochemicals feedstock reliant on naphtha from the refinery, run rates and crude prices have a direct impact on Bulgarian petrochemicals output. Rising crude prices will affect the competitiveness and output growth of Bulgarian petrochemicals.

With approximately 60% of total Bulgarian exports destined for Europe, the outlook in the eurozone – particularly Germany – will be crucial to the performance of the Bulgarian petrochemicals industry. The UK’s vote to leave the European Union and the resulting deceleration in eurozone growth will reduce Bulgaria’s European trade and investment volumes and negatively affect real GDP growth over the coming years. At a time of risk aversion, this puts Bulgarian industries such as petrochemicals, polymer converters and downstream manufacturers at a disadvantage.

On the domestic market, Bulgaria is set for steady but unspectacular economic growth. In construction, there will be modest growth that should support sustained consumption of plastic products used by the sector. In the automotive sector, there is strong growth with double-digit growth figures likely to persist throughout the forecast period. However, this stellar performance – driven by strong investment in new production facilities – is from a very low base, and the effects on demand for engineering plastics and synthetic rubbers will depend on the level of local content, which is currently low.

Bulgaria’s Petrochemicals Risk/Rewards Index score declined 0.5 points over the past year to 38.1 points due to a decline in its market risk score related to the deterioration in external markets. However, it retains its 15th place in the European rankings – 6.0 points behind Romania and 2.6 points ahead of Ukraine.

The Bulgaria Petrochemicals Report has been researched at source, and features BMI Research’s market assessment and independent forecasts for key petrochemicals sub-sectors. The report also analyses the impact of regulatory changes, recent developments and the background macroeconomic outlook and features competitive landscapes comparing companies by products and services, sales, market share, investments, projects, partners and expansion strategies.

BMI’s Bulgaria Petrochemicals Report provides industry professionals and strategists, sector analysts, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Bulgarian petrochemicals industry.

Key Benefits

Benchmark BMI’s independent petrochemicals industry forecasts to test other views – a key input for successful budgetary and planning in the Bulgarian petrochemicals market.

Target business opportunities and risks in the Bulgarian petrochemicals sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Bulgaria.

Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity).


BMI Industry View

Summary of BMI�s key industry forecasts, views and trend analysis, covering the petrochemicals markets, regulatory changes, major investments, projects and company developments.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the petrochemicals sector and within the broader political, economic and business environment.

BMI Industry Forecasts

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI’s country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at

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