Turkey: Market for Asphalt or Bitumen Articles 2024

Market Size for Asphalt or Bitumen Articles in Turkey

The Turkish asphalt or bitumen article market totaled $X in 2022, approximately reflecting the previous year. Overall, consumption saw a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Production of Asphalt or Bitumen Articles in Turkey

In value terms, asphalt or bitumen article production reached $X in 2022 estimated in export price. Overall, production showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 19% against the previous year. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Exports of Asphalt or Bitumen Articles

Exports from Turkey

Asphalt or bitumen article exports from Turkey skyrocketed to X tons in 2022, jumping by 25% compared with the year before. In general, exports showed prominent growth. The growth pace was the most rapid in 2018 when exports increased by 35%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, asphalt or bitumen article exports soared to $X in 2022. Overall, exports enjoyed moderate growth. The most prominent rate of growth was recorded in 2018 with an increase of 51%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

Israel (X tons), Bulgaria (X tons) and Qatar (X tons) were the main destinations of asphalt or bitumen article exports from Turkey, together comprising 29% of total exports. Vietnam, Indonesia, Romania, the United States, Iraq, Georgia, Cyprus, the UK, Mauritania and Greece lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mauritania (with a CAGR of +123.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for asphalt or bitumen article exported from Turkey were Israel ($X), Indonesia ($X) and Bulgaria ($X), with a combined 25% share of total exports. Vietnam, Qatar, the United States, Iraq, Romania, Cyprus, Georgia, the UK, Greece and Mauritania lagged somewhat behind, together accounting for a further 38%.

Mauritania, with a CAGR of +114.1%, recorded the highest rates of growth with regard to 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

The average asphalt or bitumen article export price stood at $X per ton in 2022, with an increase of 10% against the previous year. Overall, the export price, however, saw a pronounced decline. The growth pace was the most rapid in 2021 when the average export price increased by 16% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+1.0%), while the prices for the other major destinations experienced a decline.

Imports of Asphalt or Bitumen Articles

Imports into Turkey

In 2022, purchases abroad of asphalt or bitumen articles decreased by -9.4% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports continue to indicate a slight shrinkage. The growth pace was the most rapid in 2021 with an increase of 18% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, asphalt or bitumen article imports stood at $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 32% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Spain (X tons), France (X tons) and Turkmenistan (X tons) were the main suppliers of asphalt or bitumen article imports to Turkey, together comprising 64% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Turkmenistan (with a CAGR of +68.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest asphalt or bitumen article suppliers to Turkey were France ($X), the Netherlands ($X) and Spain ($X), with a combined 75% share of total imports. Egypt, Turkmenistan, Russia, Lithuania, Slovakia, Poland, Italy, the United States and Belgium lagged somewhat behind, together comprising a further 21%.

Turkmenistan, with a CAGR of +51.6%, 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

The average asphalt or bitumen article import price stood at $X per ton in 2022, with an increase of 12% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2018 an increase of 14% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Turkmenistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+16.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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