Turkey: Biodiesel Market 2024

Biodiesel Market Size in Turkey

In 2021, the Turkish biodiesel market decreased by -10.8% to $X, falling for the second consecutive year after two years of growth. In general, consumption, however, posted a remarkable increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Biodiesel Production in Turkey

In value terms, biodiesel production declined modestly to $X in 2021 estimated in export price. In general, production continues to indicate a measured expansion. The growth pace was the most rapid in 2015 when the production volume increased by 290%. As a result, production reached the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Biodiesel Exports

Exports from Turkey

In 2021, approx. X tons of biodiesel were exported from Turkey; jumping by 64% against the previous year's figure. Overall, exports saw a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 491%. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in years to come.

In value terms, biodiesel exports skyrocketed to $X in 2021. In general, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 when exports increased by 481% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see steady growth in the near future.

Exports by Country

The Netherlands (X tons), Belgium (X tons) and Bulgaria (X tons) were the main destinations of biodiesel exports from Turkey, with a combined 100% share 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 Belgium (with a CAGR of +363.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for biodiesel exported from Turkey were the Netherlands ($X), Belgium ($X) and Bulgaria ($X), with a combined 100% share of total exports.

Belgium, with a CAGR of +434.7%, saw the highest rates of growth with regard to the value of exports, among 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 biodiesel export price stood at $X per ton in 2021, picking up by 35% against the previous year. Over the period under review, the export price, however, recorded a abrupt decrease. The pace of growth appeared the most rapid in 2015 when the average export price increased by 106%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Bulgaria ($X per ton), while the average price for exports to Belgium ($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 Belgium (+15.4%), while the prices for the other major destinations experienced more modest paces of growth.

Biodiesel Imports

Imports into Turkey

In 2021, overseas purchases of biodiesel increased by 84% to X tons, rising for the second consecutive year after two years of decline. Overall, imports, however, showed a abrupt slump. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, biodiesel imports skyrocketed to $X in 2021. In general, imports, however, saw a abrupt contraction. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest biodiesel supplier to Turkey, accounting for a 66% share of total imports. Moreover, biodiesel imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Italy (X tons), fivefold. France (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the Netherlands totaled +141.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+27.0% per year) and France (-12.5% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of biodiesel to Turkey, comprising 57% of total imports. The second position in the ranking was held by Italy ($X), with a 17% share of total imports. It was followed by France, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from the Netherlands stood at +125.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+26.0% per year) and France (-9.3% per year).

Import Prices by Country

In 2021, the average biodiesel import price amounted to $X per ton, declining by -7.1% against the previous year. Over the period under review, the import price recorded a slight descent. The most prominent rate of growth was recorded in 2016 an increase of 27% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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 Germany ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+10.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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