Turkey: Amino Resin Market 2024

Amino Resin Market Size in Turkey

The Turkish amino resin market declined to $X in 2022, falling by -8.7% against the previous year. Overall, the total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +85.3% against 2020 indices. As a result, consumption attained the peak level of $X, and then fell in the following year.

Amino Resin Production in Turkey

In value terms, amino resin production dropped rapidly to $X in 2022 estimated in export price. Overall, production, however, posted a remarkable increase. The most prominent rate of growth was recorded in 2021 when the production volume increased by 594%. Over the period under review, production reached the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Amino Resin Exports

Exports from Turkey

In 2022, exports of amino resins from Turkey soared to X tons, with an increase of 18% compared with 2021 figures. Over the period under review, exports recorded a significant increase. The pace of growth appeared the most rapid in 2016 with an increase of 123% against the previous year. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, amino resin exports rose sharply to $X in 2022. In general, exports saw a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 109%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Exports by Country

Romania (X tons), Iraq (X tons) and Russia (X tons) were the main destinations of amino resin exports from Turkey, together comprising 57% of total exports. Iran, Egypt, Belarus, Uzbekistan, Afghanistan, Azerbaijan, the United States, Georgia and Switzerland lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belarus (with a CAGR of +149.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for amino resin exported from Turkey were Romania ($X), Russia ($X) and Iraq ($X), together comprising 55% of total exports. Iran, Egypt, Belarus, Uzbekistan, Afghanistan, the United States, Azerbaijan, Georgia and Switzerland lagged somewhat behind, together accounting for a further 31%.

Belarus, with a CAGR of +185.4%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average amino resin export price amounted to $X per ton, dropping by -5.7% against the previous year. Over the period under review, the export price recorded a slight reduction. The growth pace was the most rapid in 2021 when the average export price increased by 82% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Uzbekistan ($X per ton) and the United States ($X per ton), while the average price for exports to Romania ($X per ton) and Iraq ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Belarus (+14.5%), while the prices for the other major destinations experienced more modest paces of growth.

Amino Resin Imports

Imports into Turkey

In 2022, purchases abroad of amino resins increased by 0.4% to X tons, rising for the third year in a row after two years of decline. In general, total imports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +40.1% against 2019 indices. The most prominent rate of growth was recorded in 2021 with an increase of 24%. Imports peaked in 2022 and are likely to continue growth in years to come.

In value terms, amino resin imports expanded modestly to $X in 2022. Over the period under review, imports saw a remarkable increase. The growth pace was the most rapid in 2021 with an increase of 93%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

China (X tons), Saudi Arabia (X tons) and Belgium (X tons) were the main suppliers of amino resin imports to Turkey, with a combined 53% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +121.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Saudi Arabia ($X) and Belgium ($X) constituted the largest amino resin suppliers to Turkey, with a combined 51% share of total imports.

Saudi Arabia, with a CAGR of +119.3%, recorded 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 2022, the average amino resin import price amounted to $X per ton, with an increase of 1.7% against the previous year. Over the period under review, import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, amino resin import price increased by +58.2% against 2020 indices. The growth pace was the most rapid in 2021 an increase of 56%. The import price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Italy ($X per ton) and Portugal ($X per ton), while the price for the Netherlands ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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