Price of Technical Textiles in Turkey Surges to $17.5/kg

Turkey Technical Textiles Import Price in July 2023

In July 2023, the technical textiles price amounted to $17,534 per ton (CIF, Turkey), rising by 14% against the previous month. Overall, import price indicated notable growth from July 2022 to July 2023: its price increased at an average monthly rate of +2.1% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on July 2023 figures, technical textiles import price increased by +35.7% against April 2023 indices. The pace of growth appeared the most rapid in January 2023 when the average import price increased by 52% m-o-m. As a result, import price attained the peak level of $21,935 per ton. From February 2023 to July 2023, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was the United States ($59,938 per ton), while the price for India ($5,844 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Italy (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Turkey Technical Textiles Import Prices by Type

There were significant differences in the average prices amongst the major supplied products. In July 2023, the product with the highest price was textile wicks, woven, plaited or knitted; for lamps, stoves, lighters, candles or the like; incandescent gas mantles and tubular knitted gas mantle fabric therefor, whether or not impregnated ($23,990 per ton), while the price for textile hosepiping and similar textile tubing ($10,152 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by textile wicks, woven, plaited or knitted; for lamps, stoves, lighters, candles or the like; incandescent gas mantles and tubular knitted gas mantle fabric therefor, whether or not impregnated (+12.6%), while the prices for the other products experienced more modest paces of growth.

Turkey Technical Textiles Imports

In July 2023, after two months of decline, there was significant growth in purchases abroad of textile products and articles for technical uses, when their volume increased by 9.2% to 559 tons. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in February 2023 with an increase of 62% month-to-month.

In value terms, technical textiles imports skyrocketed to $9.8M (IndexBox estimates) in July 2023. The total import value increased at an average monthly rate of +1.3% over the period from July 2022 to July 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain months. The most prominent rate of growth was recorded in March 2023 with an increase of 37% m-o-m. As a result, imports attained the peak of $10M. From April 2023 to July 2023, the growth of imports remained at a lower figure.

Turkey Technical Textiles Imports by Type

In July 2023, textile products and articles for technical uses; specified in note 7 to this chapter (371 tons) constituted the largest type of technical textiles supplied to Turkey, accounting for a 66% share of total imports. Moreover, textile products and articles for technical uses; specified in note 7 to this chapter exceeded the figures recorded for the second-largest type, textiles; transmission or conveyor belts or belting, of textile material, whether or not reinforced with metal or other material (163 tons), twofold. The third position in this ranking was taken by textile hosepiping and similar textile tubing (26 tons), with a 4.6% share.

From July 2022 to July 2023, the average monthly rate of growth in terms of the volume of import of textile products and articles for technical uses; specified in note 7 to this chapter totaled -1.1%. With regard to the other supplied products, the following average monthly rates of growth were recorded: textiles; transmission or conveyor belts or belting, of textile material, whether or not reinforced with metal or other material (-0.6% per month) and textile hosepiping and similar textile tubing (+3.8% per month).

In value terms, textile products and articles for technical uses; specified in note 7 to this chapter ($7.8M) constituted the largest type of technical textiles supplied to Turkey, comprising 80% of total imports. The second position in the ranking was taken by textiles; transmission or conveyor belts or belting, of textile material, whether or not reinforced with metal or other material ($1.7M), with an 18% share of total imports. It was followed by textile hosepiping and similar textile tubing, with a 2.7% share.

Turkey Technical Textiles Imports by Country

In July 2023, China (334 tons) constituted the largest supplier of technical textiles to Turkey, accounting for a 60% share of total imports. Moreover, technical textiles imports from China exceeded the figures recorded by the second-largest supplier, Germany (84 tons), fourfold. India (40 tons) ranked third in terms of total imports with a 7.1% share.

From July 2022 to July 2023, the average monthly rate of growth in terms of volume from China amounted to -1.6%. The remaining supplying countries recorded the following average monthly rates of imports growth: Germany (+0.1% per month) and India (+10.3% per month).

In value terms, China ($2.2M), Germany ($2.2M) and Italy ($1.4M) were the largest technical textiles suppliers to Turkey, with a combined 59% share of total imports. Switzerland, the United States, India and Spain lagged somewhat behind, together comprising a further 13%.

Among the main suppliers, India, with a CAGR of +6.8%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform