Turkey: Butanone Market 2024

Butanone Market Size in Turkey

The Turkish butanone market soared to $X in 2022, increasing by 60% 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). Over the period under review, the total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.2% 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 +100.5% against 2019 indices. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Butanone Exports

Exports from Turkey

In 2022, approx. X tons of butanone (methyl ethyl ketone) were exported from Turkey; therefore, remained relatively stable against 2021. In general, exports, however, saw a significant expansion. The growth pace was the most rapid in 2017 with an increase of 33,893% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, butanone exports skyrocketed to $X in 2022. Over the period under review, exports, however, posted a significant increase. The pace of growth was the most pronounced in 2017 with an increase of 30,295%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Bulgaria (X tons) was the main destination for butanone exports from Turkey, with a 75% share of total exports. Moreover, butanone exports to Bulgaria exceeded the volume sent to the second major destination, Greece (X tons), threefold.

From 2012 to 2022, the average annual growth rate of volume to Bulgaria totaled +35.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (-16.9% per year) and Iran (-59.5% per year).

In value terms, Bulgaria ($X) emerged as the key foreign market for butanone (methyl ethyl ketone) exports from Turkey, comprising 78% of total exports. The second position in the ranking was held by Greece ($X), with a 22% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Bulgaria stood at +38.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (-13.0% per year) and Iran (-41.1% per year).

Export Prices by Country

The average butanone export price stood at $X per ton in 2022, growing by 44% against the previous year. In general, export price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, butanone export price decreased by -13.9% against 2020 indices. The pace of growth was the most pronounced in 2019 when the average export price increased by 56% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2020; however, from 2021 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iran ($X per ton), while the average price for exports to Greece ($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 Iran (+45.7%), while the prices for the other major destinations experienced more modest paces of growth.

Butanone Imports

Imports into Turkey

In 2022, butanone imports into Turkey skyrocketed to X tons, jumping by 28% compared with 2021 figures. The total import volume increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 with an increase of 36% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, butanone imports soared to $X in 2022. In general, total imports indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 +138.0% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), the Netherlands (X tons) and Germany (X tons) were the main suppliers of butanone imports to Turkey, with a combined 99% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +63.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest butanone suppliers to Turkey were China ($X), the Netherlands ($X) and Germany ($X), together accounting for 96% of total imports.

Among the main suppliers, Germany, with a CAGR of +47.6%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average butanone import price stood at $X per ton in 2022, increasing by 34% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 38%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for China ($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 UK (+16.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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