Turkey: Market for Cyanides, Cyanide Oxides And Complex Cyanides 2024

Market Size for Cyanides, Cyanide Oxides And Complex Cyanides in Turkey

In 2022, the Turkish cyanides and cyanide oxides market decreased by X% to $X, falling for the third consecutive year after four years of growth. Overall, the total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Exports of Cyanides, Cyanide Oxides And Complex Cyanides

Exports from Turkey

In 2022, exports of cyanides, cyanide oxides and complex cyanides from Turkey shrank remarkably to X tons, reducing by X% on the previous year. Over the period under review, exports, however, enjoyed a strong expansion. The growth pace was the most rapid in 2019 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2020 to 2022, the growth of the exports failed to regain momentum.

In value terms, cyanides and cyanide oxides exports declined remarkably to $X in 2022. Overall, exports, however, posted a strong expansion. The pace of growth appeared the most rapid in 2019 when exports increased by X%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Iran (X tons) was the main destination for cyanides and cyanide oxides exports from Turkey, with a X% share of total exports. Moreover, cyanides and cyanide oxides exports to Iran exceeded the volume sent to the second major destination, Azerbaijan (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to Iran amounted to X%.

In value terms, Iran ($X) remains the key foreign market for cyanides, cyanide oxides and complex cyanides exports from Turkey, comprising X% of total exports. The second position in the ranking was held by Azerbaijan ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Iran totaled X%.

Export Prices by Country

The average cyanides and cyanide oxides export price stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the export price, however, recorded a perceptible descent. The growth pace was the most rapid in 2017 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 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 Iran totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Free Zones (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Cyanides, Cyanide Oxides And Complex Cyanides

Imports into Turkey

In 2022, purchases abroad of cyanides, cyanide oxides and complex cyanides decreased by X% to X tons for the first time since 2011, thus ending a ten-year rising trend. Over the period under review, imports, however, showed a prominent expansion. The most prominent rate of growth was recorded in 2018 with an increase of X%. Imports peaked at X tons in 2021, and then dropped remarkably in the following year.

In value terms, cyanides and cyanide oxides imports reduced modestly to $X in 2022. In general, total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2018 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Australia (X tons), Germany (X tons) and South Korea (X tons) were the main suppliers of cyanides and cyanide oxides imports to Turkey, together accounting for X% of total imports.

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

In value terms, Germany ($X), South Korea ($X) and Australia ($X) constituted the largest cyanides and cyanide oxides suppliers to Turkey, with a combined X% share of total imports.

In terms of the main suppliers, Australia, with a CAGR of X%, saw 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

In 2022, the average cyanides and cyanide oxides import price amounted to $X per ton, picking up by X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the highest price was recorded for prices from Germany ($X per ton) and the Czech Republic ($X per ton), while the price for Australia ($X per ton) and China ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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