Turkey: Market for Benzoyl Peroxide And Benzoyl Chloride 2024

Market Size for Benzoyl Peroxide And Benzoyl Chloride in Turkey

The Turkish benzoyl peroxide and chloride market skyrocketed to $X in 2022, rising by 144% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption enjoyed a significant expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Benzoyl Peroxide And Benzoyl Chloride

Exports from Turkey

In 2022, shipments abroad of benzoyl peroxide and benzoyl chloride increased by 73% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of 133% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are likely to see gradual growth in the near future.

In value terms, benzoyl peroxide and chloride exports skyrocketed to $X in 2022. In general, exports showed significant growth. The growth pace was the most rapid in 2016 when exports increased by 147%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Iran (X tons), the United States (X tons) and Germany (X tons) were the main destinations of benzoyl peroxide and chloride exports from Turkey, together comprising 78% of total exports. Egypt, Russia and Canada lagged somewhat behind, together comprising a further 17%.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of +142.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Iran ($X), the United States ($X) and Germany ($X) were the largest markets for benzoyl peroxide and chloride exported from Turkey worldwide, together accounting for 74% of total exports. Egypt, Russia and Canada lagged somewhat behind, together comprising a further 20%.

Among the main countries of destination, Russia, with a CAGR of +165.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average benzoyl peroxide and chloride export price stood at $X per ton in 2022, surging by 8% against the previous year. Overall, export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, benzoyl peroxide and chloride export price increased by +69.0% against 2017 indices. The pace of growth was the most pronounced in 2021 when the average export price increased by 37% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Iran ($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 Russia (+9.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Benzoyl Peroxide And Benzoyl Chloride

Imports into Turkey

In 2022, imports of benzoyl peroxide and benzoyl chloride into Turkey skyrocketed to X tons, jumping by 98% compared with 2021 figures. Over the period under review, imports recorded significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, benzoyl peroxide and chloride imports soared to $X in 2022. Overall, imports posted a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest benzoyl peroxide and chloride supplier to Turkey, with a 68% share of total imports. Moreover, benzoyl peroxide and chloride imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), fourfold. The third position in this ranking was held by India (X tons), with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +38.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+15.6% per year) and India (+94.1% per year).

In value terms, China ($X) constituted the largest supplier of benzoyl peroxide and benzoyl chloride to Turkey, comprising 61% of total imports. The second position in the ranking was held by Germany ($X), with a 16% share of total imports. It was followed by Italy, with an 8.9% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to +38.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+11.1% per year) and Italy (+16.4% per year).

Import Prices by Country

The average benzoyl peroxide and chloride import price stood at $X per ton in 2022, surging by 27% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average import price increased by 50% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+12.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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