Turkey: Carbon Dioxide Market 2024

Carbon Dioxide Market Size in Turkey

The Turkish carbon dioxide market was finally on the rise to reach $X in 2022, after four years of decline. Over the period under review, consumption recorded a relatively flat trend pattern. Carbon dioxide consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Carbon Dioxide Production in Turkey

In value terms, carbon dioxide production totaled $X in 2022 estimated in export price. In general, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the production volume increased by 9.4%. Carbon dioxide production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Carbon Dioxide Exports

Exports from Turkey

In 2022, after five years of growth, there was significant decline in overseas shipments of carbon dioxide, when their volume decreased by -5.1% to X tons. The total export volume increased at an average annual rate of +3.5% 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 2014 with an increase of 37%. Over the period under review, the exports reached the maximum at X tons in 2021, and then reduced in the following year.

In value terms, carbon dioxide exports skyrocketed to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Iraq (X tons), Lebanon (X tons) and Georgia (X tons) were the main destinations of carbon dioxide exports from Turkey, together comprising 85% of total exports. Azerbaijan, Israel and Cyprus lagged somewhat behind, together comprising a further 12%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Israel (with a CAGR of +34.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for carbon dioxide exported from Turkey were Iraq ($X), Lebanon ($X) and Azerbaijan ($X), with a combined 72% share of total exports. Georgia, Israel and Cyprus lagged somewhat behind, together accounting for a further 19%.

Israel, with a CAGR of +33.5%, 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 carbon dioxide export price stood at $X per ton in 2022, surging by 52% against the previous year. Overall, the export price, however, showed a pronounced slump. Over the period under review, the average export prices reached the peak figure 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 Azerbaijan ($X per ton), while the average price for exports to Lebanon ($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 Israel (-0.6%), while the prices for the other major destinations experienced a decline.

Carbon Dioxide Imports

Imports into Turkey

In 2022, approx. X tons of carbon dioxide were imported into Turkey; standing approx. at the previous year's figure. Overall, imports saw a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of 197%. Over the period under review, imports reached the maximum at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, carbon dioxide imports stood at $X in 2022. In general, imports saw a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 178%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest carbon dioxide supplier to Turkey, accounting for a 28% share of total imports. Moreover, carbon dioxide imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was held by the UK (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates totaled +21.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+0.4% per year) and the UK (+49.5% per year).

In value terms, the largest carbon dioxide suppliers to Turkey were the United States ($X), Germany ($X) and the UK ($X), with a combined 52% share of total imports.

Among the main suppliers, the UK, with a CAGR of +43.5%, recorded the highest rates of growth with regard to 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 carbon dioxide import price stood at $X per ton in 2022, surging by 1.7% against the previous year. In general, the import price continues to indicate a tangible expansion. The most prominent rate of growth was recorded in 2018 an increase of 154% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 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 the United States ($X per ton), while the price for the United Arab Emirates ($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 (+23.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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