Bulk modulus K is the modulus of elasticity associated with a change in the volume of a body under an applied deforming force — the elasticity of volume. Unlike Young's modulus and the modulus of rigidity, which apply only to solids, bulk modulus is a property shared by solids, liquids and gases, since all three states of matter have a definite volume.
For a body of original volume V subjected to a volume stress dP that produces a volume change dV, the volume strain is defined as −dV/V (the minus sign ensures the strain is reported as a positive quantity even though dV itself is negative for a pressure increase), and the bulk modulus is
K=−dV/VdP=−VdVdP
Its SI unit is N/m2, dimensional formula [L−1M1T−2]. Its reciprocal, 1/K, is called compressibility — the fractional decrease in volume per unit increase in pressure — measured in Pa−1.
A material with a small bulk modulus (and hence a large compressibility, like water at 2.18×108 Pa) is easy to compress, while one with a large bulk modulus (like gold or steel, both above 1011 Pa) strongly resists any change in its volume. This is why a high-pressure balloon or gas cylinder can burst once the internal volume stress exceeds the container material's bulk-elastic limit, and why a submarine hull deep underwater must be engineered to withstand a substantial volume stress from the surrounding water.