Plastic and Rubber Manufacturing Market in Bulgaria 2016-2020

Overview of the plastic and rubber manufacturing market in Bulgaria

Technavio’s market research analysts estimate the market for plastic and rubber manufacturing in Bulgaria to grow at an impressive CAGR of nearly 6% by 2020. The rising demand for finished plastic and rubber products will aid in this market’s growth over the next few years. The plastic and rubber manufacturing industry in Bulgaria has been witnessing significant growth in recent years owing to the surge in the production of plastic and rubber products post the economic crisis of 2008. The demand for finished plastic and rubber products, including plastic packaging products, plastic automotive parts, electrical engineering products, rubber mats, conveyor belts, and rubber gaskets and sheets has been increasing at a significant rate as a result of strong growth of the construction and automotive sectors.

This market study also identifies eminent factors, such as the augmented demand for engineering plastics in construction equipment, to impel the prospects for growth in this market during the estimated period. Resurgence of the construction industry in Bulgaria will bolster the demand for construction equipment in the country. This increase in the demand for construction equipment will lead to a subsequent need for engineering plastics, which are used in the manufacture of construction equipment. Engineering plastics are a special type of plastic with properties such as resistance to heat and fire, and a high degree of mechanical strength. Since these properties are not present in ordinary plastics, engineered plastics find huge applications in the manufacture of conveyor guides, bumpers, rollers, rollers, and wear plates.

Segmentation by type of product and analysis of the plastic and rubber manufacturing market in Bulgaria

• Plastic packaging goods
• Plastic plates, sheets, tubes, and profiles
• Builders’ ware of plastic
• Other rubber products (excluding rubber tires and tubes, and re-treading and re-building of rubber tires)

According to this market research, the plastic packaging goods segment dominated this market during 2015 and accounted for a market share of more than 40%. Finished plastic products are being increasingly adopted in packaging and healthcare applications as they are non-reactive and lightweight. Additionally, they are also used for the packaging of products like baby foods, bakery and confectionery items, frozen foods, personal care products, and medical devices.

Segmentation by end users and analysis of the plastic and rubber manufacturing market in Bulgaria

• Manufacturers of automotive equipment
• Manufacturers of industrial products
• Manufacturers of consumer products
• Manufacturers of medical equipment

Based on consumption, the manufacturers of automotive equipment account for a market share of more than 47% during 2015. This market segment dominates the market in terms of consumption for both rubber and plastic manufacturing, and will continue its market dominance until the end of 2020 owing to the extensive use of rubber and plastics for the production of tires and tubes.

Competitive landscape and key vendors

This market is characterized by the presence of a large number of regional manufacturers. Due to this market’s high growth prospects, many international manufacturers are also entering the market and expanding their presence in Bulgaria. As a result, regional manufacturers are finding it difficult to compete with the international players, especially on the basis of product quality, technology, and pricing.

Key manufacturers in this market are -

• Chimiplast
• Kraiburg
• Alfrida Peev
• KAUCHUK
• ENKO
• Terrachim 97
• KAUMET
• Thermostren Invest
• Trelleborg
• ITD
• Retal Balkan
• PLASTEC

Key questions answered in the report include

• What will the market size and the growth rate be in 2020?
• What are the key factors driving the plastic and rubber manufacturing market in Bulgaria?
• What are the key market trends impacting the growth of the plastic and rubber manufacturing market in Bulgaria?
• What are the challenges to market growth?
• Who are the key vendors in the plastic and rubber manufacturing market in Bulgaria?
• What are the market opportunities and threats faced by the vendors in the plastic and rubber manufacturing market in Bulgaria?
• Trending factors influencing the market shares of Bulgaria.
• What are the key outcomes of the five forces analysis of the plastic and rubber manufacturing market in Bulgaria?

Technavio also offers customization on reports based on specific client requirement.

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