Turkey: Amine-Function Compounds Market 2024

Amine-Function Compounds Market Size in Turkey

In 2021, the Turkish amine-function compounds market was finally on the rise to reach $X after two years of decline. Overall, the total consumption indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +3.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Amine-function compounds consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Amine-Function Compounds Exports

Exports from Turkey

In 2021, shipments abroad of amine-function compounds increased by 6.8% to X tons, rising for the third consecutive year after three years of decline. The total export volume increased at an average annual rate of +1.4% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 23%. The exports peaked in 2021 and are likely to continue growth in the near future.

In value terms, amine-function compounds exports amounted to $X in 2021. Over the period under review, total exports indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +71.7% against 2016 indices. The most prominent rate of growth was recorded in 2020 when exports increased by 35%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The Netherlands (X tons) was the main destination for amine-function compounds exports from Turkey, with a 69% share of total exports. Moreover, amine-function compounds exports to the Netherlands exceeded the volume sent to the second major destination, France (X tons), fourfold. Iran (X tons) ranked third in terms of total exports with a 2.3% share.

From 2012 to 2021, the average annual growth rate of volume to the Netherlands amounted to -2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+251.6% per year) and Iran (+0.8% per year).

In value terms, the Netherlands ($X) remains the key foreign market for amine-function compounds exports from Turkey, comprising 43% of total exports. The second position in the ranking was held by France ($X), with a 14% share of total exports. It was followed by Iran, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to the Netherlands was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+140.2% per year) and Iran (+3.3% per year).

Export Prices by Country

The average amine-function compounds export price stood at $X per ton in 2021, falling by -5.1% against the previous year. Over the period under review, export price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, amine-function compounds export price increased by +55.1% against 2016 indices. The growth pace was the most rapid in 2013 when the average export price increased by 25% against the previous year. The export price peaked at $X per ton in 2020, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iran ($X per ton), while the average price for exports to the Netherlands ($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 Japan (+12.4%), while the prices for the other major destinations experienced more modest paces of growth.

Amine-Function Compounds Imports

Imports into Turkey

In 2021, purchases abroad of amine-function compounds increased by 9.3% to X tons for the first time since 2018, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +2.7% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 25% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, amine-function compounds imports soared to $X in 2021. In general, total imports indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when imports increased by 47%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, the United States (X tons) constituted the largest supplier of amine-function compounds to Turkey, with a 34% share of total imports. Moreover, amine-function compounds imports from the United States exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. Germany (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from the United States stood at +1.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+1.7% per year) and Germany (+9.8% per year).

In value terms, the United States ($X) constituted the largest supplier of amine-function compounds to Turkey, comprising 27% of total imports. The second position in the ranking was held by India ($X), with a 13% share of total imports. It was followed by China, with a 12% share.

From 2012 to 2021, the average annual growth rate of value from the United States amounted to -1.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+12.6% per year) and China (+0.3% per year).

Import Prices by Country

The average amine-function compounds import price stood at $X per ton in 2021, picking up by 26% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 India ($X per ton), while the price for Belgium ($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 (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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