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Turkey - Cyclic Hydrocarbons - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Feb 1, 2025

Turkey - Cyclic Hydrocarbons - Market Analysis, Forecast, Size, Trends and Insights

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Jul 19, 2024

Turkey's Import of Cyclic Hydrocarbons Falls Sharply to $868M in 2023

Turkey Cyclic Hydrocarbons Imports

In 2023, purchases abroad of cyclic hydrocarbons decreased by -1.5% to 747K tons, falling for the second year in a row after three years of growth. Over the period under review, total imports indicated a strong expansion from 2013 to 2023: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by -6.9% against 2021 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 17%. Imports peaked at 802K tons in 2021; however, from 2022 to 2023, imports failed to regain momentum.

In value terms, cyclic hydrocarbons imports reduced markedly to $868M (IndexBox estimates) in 2023. In general, imports, however, saw a mild increase. The growth pace was the most rapid in 2021 when imports increased by 101%. Imports peaked at $1.2B in 2022, and then fell remarkably in the following year.Turkey Cyclic Hydrocarbons Imports By Country (Million USD)

COUNTRYImport Value of Cyclic Hydrocarbons in Turkey (million USD)
20132014201520162017201820192020202120222023
Saudi Arabia140202142131109119158166226306266
Spain79.3123127147188156141112271237204
United States42.493.547.810.634.487.866.961.918343.4138
Israel16852.252.662.162.997.880.957.531.453.157.0
Russia53.528.211.018.011.137.05.216.89.057.242.1
China2.22.23.71.92.01.92.92.278.313732.1
South Korea1.01.40.40.41.011.22.22.47.944.431.3
Kuwait12888.630.627.941.819.727.119.141.514425.0
Netherlands56.379.162.275.810874.951.541.911347.510.2
Others58.534.946.235.782.355.310434.271.388.663.2
Total7287055245116416616395141,0331,158868

Imports by Country

Saudi Arabia (225K tons), Spain (179K tons) and the United States (120K tons) were the main suppliers of cyclic hydrocarbons imports to Turkey, with a combined 70% share of total imports. Israel, Russia, China, Kuwait, South Korea and the Netherlands lagged somewhat behind, together comprising a further 24%.

From 2013 to 2023, the biggest increases were recorded for China (with a CAGR of +39.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cyclic hydrocarbons suppliers to Turkey were Saudi Arabia ($266M), Spain ($204M) and the United States ($138M), together accounting for 70% of total imports. Israel, Russia, China, South Korea, Kuwait and the Netherlands lagged somewhat behind, together comprising a further 23%.

South Korea, with a CAGR of +41.2%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the cyclic hydrocarbons price stood at $1,163 per ton (CIF, Turkey), falling by -23.9% against the previous year. Over the period under review, the import price continues to indicate a noticeable contraction. The growth pace was the most rapid in 2021 an increase of 78%. Over the period under review, average import prices hit record highs at $1,730 per ton in 2013; however, from 2014 to 2023, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the highest price was recorded for prices from China ($1,252 per ton) and the Netherlands ($1,228 per ton), while the price for Russia ($941 per ton) and Israel ($1,084 per ton) were amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was attained by the Netherlands (-2.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the cyclic hydrocarbons 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:

  • Prodcom 20141213 - Cyclohexane
  • Prodcom 20141215 - Cyclanes, cyclenes and cycloterpenes (excluding cyclohexane)
  • Prodcom 20141223 - Benzene
  • Prodcom 20141225 - Toluene
  • Prodcom 20141243 - o-Xylene
  • Prodcom 20141245 - p-Xylene
  • Prodcom 20141247 - m-Xylene and mixed xylene isomers
  • Prodcom 20141250 - Styrene
  • Prodcom 20141260 - Ethylbenzene
  • Prodcom 20141270 - Cumene
  • Prodcom 20141290 - Other cyclic hydrocarbons

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 2012–2024
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2024
    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 2024
    2. Market Volume, In Physical Terms, 2012–2024
    3. Market Value, 2012–2024
    4. Per Capita Consumption In 2012-2024
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country Of Origin, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country Of Destination, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2024
    2. Market Value, 2012–2024
    3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
    4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
    5. Trade Balance, In Physical Terms, 2012-2024
    6. Trade Balance, In Value Terms, 2012-2024
    7. Per Capita Consumption, 2012-2024
    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, 2012–2024
    22. Production, In Value Terms, 2012–2024
    23. Imports, In Physical Terms, 2012–2024
    24. Imports, In Value Terms, 2012–2024
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country Of Origin, 2012–2024
    29. Exports, In Physical Terms, 2012–2024
    30. Exports, In Value Terms, 2012–2024
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country Of Destination, 2012–2024

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