Turkey: Acrylonitrile Market 2024

Acrylonitrile Market Size in Turkey

In 2021, the Turkish acrylonitrile market was finally on the rise to reach $X for the first time since 2018, thus ending a two-year declining trend. Over the period under review, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +8.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Acrylonitrile consumption peaked in 2021 and is expected to retain growth in the near future.

Acrylonitrile Exports

Exports from Turkey

In 2021, acrylonitrile exports from Turkey reduced markedly to X tons, which is down by -50.8% compared with the previous year. Overall, exports showed a precipitous decline. The pace of growth appeared the most rapid in 2016 with an increase of 622%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, acrylonitrile exports fell dramatically to $X in 2021. Over the period under review, exports saw a sharp slump. The growth pace was the most rapid in 2016 with an increase of 718%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons), India (X tons) and Egypt (X tons) were the main destinations of acrylonitrile exports from Turkey, together comprising 89% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of -21.6%), while the other leaders experienced a decline.

In value terms, the United Arab Emirates ($X), India ($X) and Egypt ($X) appeared to be the largest markets for acrylonitrile exported from Turkey worldwide, together accounting for 93% of total exports.

Among the main countries of destination, the United Arab Emirates, with a CAGR of -18.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average acrylonitrile export price amounted to $X per ton, rising by 19% against the previous year. Overall, export price indicated a temperate expansion from 2012 to 2021: its price increased at an average annual rate of +2.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, acrylonitrile export price increased by +9.5% against 2018 indices. The pace of growth appeared the most rapid in 2018 an increase of 43% against the previous year. The export price peaked in 2021 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Russia (+7.8%), while the prices for the other major destinations experienced more modest paces of growth.

Acrylonitrile Imports

Imports into Turkey

Acrylonitrile imports into Turkey soared to X tons in 2021, surging by 39% compared with the previous year. In general, total imports indicated a resilient expansion from 2012 to 2021: its volume increased at an average annual rate of +7.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -6.6% against 2019 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 61%. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, acrylonitrile imports skyrocketed to $X in 2021. Overall, imports recorded buoyant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Russia (X tons), the United States (X tons) and the UK (X tons) were the main suppliers of acrylonitrile imports to Turkey, with a combined 71% share of total imports. Brazil, Belarus, Mexico and the Netherlands lagged somewhat behind, together comprising a further 25%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +24.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Russia ($X) and the UK ($X) appeared to be the largest acrylonitrile suppliers to Turkey, with a combined 74% share of total imports. These countries were followed by Brazil, the Netherlands, Belarus and Mexico, which together accounted for a further 21%.

Belarus, with a CAGR of +20.5%, saw the highest rates of growth with regard to the value of imports, in terms of 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 2021, the average acrylonitrile import price amounted to $X per ton, surging by 23% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The import price peaked at $X per ton in 2012; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the Netherlands ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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