Turkey: Oxides And Hydroxides Market 2024

Oxides And Hydroxides Market Size in Turkey

In 2021, the Turkish oxides and hydroxides market increased by 3.3% to $X, rising for the third year in a row after two years of decline. The market value increased at an average annual rate of +1.0% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Oxides And Hydroxides Production in Turkey

In value terms, oxides and hydroxides production reduced to $X in 2021 estimated in export price. In general, production recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 when the production volume increased by 20%. Oxides and hydroxides production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Oxides And Hydroxides Exports

Exports from Turkey

After four years of decline, overseas shipments of chromium, manganese, lead and copper oxides and hydroxides increased by 228% to X tons in 2021. Overall, exports, however, recorded a significant curtailment. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, oxides and hydroxides exports soared to $X in 2021. Over the period under review, exports, however, showed a dramatic shrinkage. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Pakistan (X tons), Niger (X tons) and Kuwait (X tons) were the main destinations of oxides and hydroxides exports from Turkey, with a combined 60% 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 Kuwait (with a CAGR of +134.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for oxides and hydroxides exported from Turkey were Pakistan ($X), Russia ($X) and Serbia ($X), with a combined 41% share of total exports.

In terms of the main countries of destination, Serbia, with a CAGR of +104.3%, saw the highest rates of growth with regard to 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

In 2021, the average oxides and hydroxides export price amounted to $X per ton, dropping by -12.4% against the previous year. Overall, the export price showed a pronounced setback. The most prominent rate of growth was recorded in 2018 when the average export price increased by 52% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Russia ($X per ton), while the average price for exports to Australia ($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 the United States (+1.9%), while the prices for the other major destinations experienced mixed trend patterns.

Oxides And Hydroxides Imports

Imports into Turkey

In 2021, overseas purchases of chromium, manganese, lead and copper oxides and hydroxides increased by 71% to X tons, rising for the third year in a row after two years of decline. Overall, imports recorded a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, oxides and hydroxides imports skyrocketed to $X in 2021. Over the period under review, imports recorded a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

India (X tons), Georgia (X tons) and Sri Lanka (X tons) were the main suppliers of oxides and hydroxides imports to Turkey, with a combined 41% share of total imports. These countries were followed by the United States, Taiwan (Chinese), Norway, Germany, South Africa, Russia and Australia, which together accounted for a further 48%.

From 2012 to 2021, the biggest increases were recorded for Taiwan (Chinese) (with a CAGR of +135.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Norway ($X), the United States ($X) and Germany ($X) were the largest oxides and hydroxides suppliers to Turkey, with a combined 51% share of total imports. These countries were followed by India, Sri Lanka, Taiwan (Chinese), Australia, Russia, South Africa and Georgia, which together accounted for a further 39%.

Among the main suppliers, Taiwan (Chinese), with a CAGR of +97.8%, recorded 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 oxides and hydroxides import price stood at $X per ton in 2021, growing by 24% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 26% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Norway ($X per ton), while the price for Georgia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Algeria (+29.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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