Turkey: Candles And Tapers Market 2024

Candles And Tapers Market Size in Turkey

The Turkish candles and tapers market was finally on the rise to reach $X in 2021, after five years of decline. Overall, the total consumption indicated a perceptible increase from 2012 to 2021: its value increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -37.7% against 2013 indices. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Candles And Tapers Exports

Exports from Turkey

Candles and tapers exports from Turkey surged to X tons in 2021, with an increase of 327% compared with the year before. Overall, exports, however, saw a perceptible setback. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, candles and tapers exports surged to $X in 2021. In general, exports enjoyed a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for candles and tapers exports from Turkey, accounting for a 41% share of total exports. Moreover, candles and tapers exports to the United States exceeded the volume sent to the second major destination, Tunisia (X tons), sixfold. Iraq (X tons) ranked third in terms of total exports with a 5.2% share.

From 2012 to 2021, the average annual growth rate of volume to the United States stood at +32.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Tunisia (+98.5% per year) and Iraq (+30.6% per year).

In value terms, the United States ($X) remains the key foreign market for candles and tapers exports from Turkey, comprising 44% of total exports. The second position in the ranking was held by Belgium ($X), with a 9% share of total exports. It was followed by the UK, with a 4.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States totaled +39.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+124.4% per year) and the UK (+42.9% per year).

Export Prices by Country

The average candles and tapers export price stood at $X per ton in 2021, with an increase of 8.1% against the previous year. Over the period under review, the export price continues to indicate resilient growth. The pace of growth was the most pronounced in 2016 an increase of 71%. The export price peaked in 2021 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Iraq ($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 Germany (+19.8%), while the prices for the other major destinations experienced more modest paces of growth.

Candles And Tapers Imports

Imports into Turkey

In 2021, purchases abroad of candles and tapers increased by 31% to X tons for the first time since 2015, thus ending a five-year declining trend. The total import volume increased at an average annual rate of +2.6% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by 42%. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, candles and tapers imports soared to $X in 2021. Overall, imports, however, recorded a relatively flat trend pattern. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

Poland (X tons), China (X tons) and Iran (X tons) were the main suppliers of candles and tapers imports to Turkey, with a combined 79% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Iran (with a CAGR of +183.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), China ($X) and Spain ($X) were the largest candles and tapers suppliers to Turkey, together accounting for 71% of total imports. These countries were followed by the United States, France, Germany, the UK, Vietnam, Iran, Portugal, Sweden and Belgium, which together accounted for a further 22%.

Iran, with a CAGR of +248.8%, recorded the highest rates of growth with regard to 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 candles and tapers import price stood at $X per ton in 2021, rising by 11% against the previous year. Over the period under review, the import price, however, showed a pronounced shrinkage. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Iran (+22.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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