We use cookies to improve your experience and for marketing. Read our cookie policy or manage cookies.

Accept essential cookies
Accept all cookies
Turkey - Iron and Steel - Market Analysis, Forecast, Size, Trends And Insights
Report Update: Nov 1, 2024

Turkey - Iron and Steel - Market Analysis, Forecast, Size, Trends And Insights

Single report
Sent by email within 24h (Mon-Fri)
What's the difference?
Subscription
Online access and download
from $350/month

Get instant access to more than 2 million reports, dashboards, and datasets on the IndexBox Platform.

View Pricing
Dec 7, 2023

Turkey's Iron and Steel Industry Trends

The iron and steel industry is the backbone of Turkey's modern infrastructure and booming construction sector. In recent years, this industry has showcased significant figures that mirror its importance in the national economy. In 2022, Turkey consumed 12.251 million tons of iron and steel, which is reflective of the country's increasing demand for these essential materials.

Main Areas of Application

The application of iron and steel in Turkey is extensive, aspiring to meet the diverse needs of various industries. Major areas include the construction industry, automotive manufacturing, shipbuilding, and consumer appliances. Notably, the construction sector dominates consumption, wherein the robustness and durability of steel render it a crucial component for building frameworks and infrastructure projects.

The demand for building materials has seen an uptick, especially in the wake of natural disasters like earthquakes. Turkey's seismic activity necessitates construction standards that prioritize safety and resilience, stimulating the need for high-quality steel. This urgency was palpable following the devastating earthquakes that compelled a review of structural integrity across Turkish cities and increased the consumption of steel products suitable for earthquake-resistant constructions.

The Turkish iron and steel market is influenced by a multifaceted set of growth drivers and limitations. Infrastructure projects, urbanization, and the push for more earthquake-resistant buildings fuel market expansion. Conversely, limitations stem from global market volatility, fluctuating raw material costs, and political factors affecting international trade relationships.

Dependency on Imports

Despite having a significant production capacity with 10.85 million tons of iron and steel generated in 2022, Turkey remains somewhat dependent on imports to satisfy its demand. The import volume for 2022 stood at 1.416 million tons, worth a staggering $812.957 million, at an average price of $0.574 per kg. These numbers attest to the weighty role imports play in the Turkish iron and steel supply chain.

The largest suppliers of imported iron and steel to Turkey include Russia, with an import value of $592.41 million, followed by Ukraine ($312.583 million), Brazil ($134.798 million), Germany ($55.514 million), and South Africa ($20.631 million). These countries together form a substantial part of Turkey's import strategy, providing the raw materials and semi-finished products necessary for Turkey's industries.

Conclusion

The Turkish iron and steel industry, characterized by a robust local production and an evident need for imports, continues to thrive in an ever-changing economic landscape. The dynamic interplay between domestic consumption, import dependency, and market forces suggests a complex yet vibrant sector. It is propelled further by the resilient demand for steel in construction, especially post-earthquake reconstruction efforts, and an unswerving commitment to infrastructure development. As the nation rises to the challenge of enhancing structural safety and fueling economic growth, the iron and steel industry remains a pivotal element in Turkey's journey towards progress.

An in-depth analysis, such as the IndexBox market report, would yield a more detailed examination of the trade flows, pricing trends, and market predictions, proving invaluable for stakeholders and market analysts alike.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the iron and steel market in Turkey. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

    Country coverage:

    • Turkey

    Data coverage:

    • Market volume and value
    • Per Capita consumption
    • Forecast of the market dynamics in the medium term
    • Trade (exports and imports) in Turkey
    • Export and import prices
    • Market trends, drivers and restraints
    • Key market players and their profiles

    Reasons to buy this report:

    • Take advantage of the latest data
    • Find deeper insights into current market developments
    • Discover vital success factors affecting the market

    This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

    In this report, you can find information that helps you to make informed decisions on the following issues:

    1. How to diversify your business and benefit from new market opportunities
    2. How to load your idle production capacity
    3. How to boost your sales on overseas markets
    4. How to increase your profit margins
    5. How to make your supply chain more sustainable
    6. How to reduce your production and supply chain costs
    7. How to outsource production to other countries
    8. How to prepare your business for global expansion

    While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

    1. 1. INTRODUCTION

      Making Data-Driven Decisions to Grow Your Business

      1. REPORT DESCRIPTION
      2. RESEARCH METHODOLOGY AND AI PLATFORM
      3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
      4. GLOSSARY AND SPECIFIC TERMS

    2. 2. EXECUTIVE SUMMARY

      A Quick Overview of Market Performance

      1. KEY FINDINGS
      2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

    3. 3. MARKET OVERVIEW

      Understanding the Current State of The Market and Its Prospects

      1. MARKET SIZE
      2. MARKET STRUCTURE
      3. TRADE BALANCE
      4. PER CAPITA CONSUMPTION
      5. MARKET FORECAST TO 2030

    4. 4. MOST PROMISING PRODUCT

      Finding New Products to Diversify Your Business

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
      2. BEST-SELLING PRODUCTS
      3. MOST CONSUMED PRODUCT
      4. MOST TRADED PRODUCT
      5. MOST PROFITABLE PRODUCT FOR EXPORT

    5. 5. MOST PROMISING SUPPLYING COUNTRIES

      Choosing the Best Countries to Establish Your Sustainable Supply Chain

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
      2. TOP PRODUCING COUNTRIES
      3. TOP EXPORTING COUNTRIES
      4. LOW-COST EXPORTING COUNTRIES

    6. 6. MOST PROMISING OVERSEAS MARKETS

      Choosing the Best Countries to Boost Your Exports

      This Chapter is Available Only for the Professional Edition PRO
      1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
      2. TOP CONSUMING MARKETS
      3. UNSATURATED MARKETS
      4. TOP IMPORTING MARKETS
      5. MOST PROFITABLE MARKETS

    7. 7. PRODUCTION

      The Latest Trends and Insights into The Industry

      1. PRODUCTION VOLUME AND VALUE

    8. 8. IMPORTS

      The Largest Import Supplying Countries

      1. IMPORTS FROM 2012–2023
      2. IMPORTS BY COUNTRY
      3. IMPORT PRICES BY COUNTRY

    9. 9. EXPORTS

      The Largest Destinations for Exports

      1. EXPORTS FROM 2012–2023
      2. EXPORTS BY COUNTRY
      3. EXPORT PRICES BY COUNTRY

    10. 10. PROFILES OF MAJOR PRODUCERS

      The Largest Producers on The Market and Their Profiles

      This Chapter is Available Only for the Professional Edition PRO

    11. LIST OF TABLES

      1. Key Findings In 2023
      2. Market Volume, In Physical Terms, 2012–2023
      3. Market Value, 2012–2023
      4. Per Capita Consumption In 2012-2023
      5. Imports, In Physical Terms, By Country, 2012–2023
      6. Imports, In Value Terms, By Country, 2012–2023
      7. Import Prices, By Country Of Origin, 2012–2023
      8. Exports, In Physical Terms, By Country, 2012–2023
      9. Exports, In Value Terms, By Country, 2012–2023
      10. Export Prices, By Country Of Destination, 2012–2023

    12. LIST OF FIGURES

      1. Market Volume, In Physical Terms, 2012–2023
      2. Market Value, 2012–2023
      3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
      4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
      5. Trade Balance, In Physical Terms, 2012-2023
      6. Trade Balance, In Value Terms, 2012-2023
      7. Per Capita Consumption, 2012-2023
      8. Market Volume Forecast to 2030
      9. Market Value Forecast to 2030
      10. Products: Market Size And Growth, By Type
      11. Products: Average Per Capita Consumption, By Type
      12. Products: Exports And Growth, By Type
      13. Products: Export Prices And Growth, By Type
      14. Production Volume And Growth
      15. Exports And Growth
      16. Export Prices And Growth
      17. Market Size And Growth
      18. Per Capita Consumption
      19. Imports And Growth
      20. Import Prices
      21. Production, In Physical Terms, 2012–2023
      22. Production, In Value Terms, 2012–2023
      23. Imports, In Physical Terms, 2012–2023
      24. Imports, In Value Terms, 2012–2023
      25. Imports, In Physical Terms, By Country, 2023
      26. Imports, In Physical Terms, By Country, 2012–2023
      27. Imports, In Value Terms, By Country, 2012–2023
      28. Import Prices, By Country Of Origin, 2012–2023
      29. Exports, In Physical Terms, 2012–2023
      30. Exports, In Value Terms, 2012–2023
      31. Exports, In Physical Terms, By Country, 2023
      32. Exports, In Physical Terms, By Country, 2012–2023
      33. Exports, In Value Terms, By Country, 2012–2023
      34. Export Prices, By Country Of Destination, 2012–2023

    Recommended posts

    Free Data: Iron and Steel - Turkey
    Table
    Iron and Steel - Turkey - Table
    Dashboard
    Iron and Steel - Turkey - Dashboard
    Report
    Iron and Steel - Turkey - Report