Turkey: Diphosphorus Pentaoxide Market 2024

Diphosphorus Pentaoxide Market Size in Turkey

In 2022, after two years of decline, there was significant growth in the Turkish diphosphorus pentaoxide market, when its value increased by 439% to $X. Overall, consumption recorded a buoyant expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Diphosphorus Pentaoxide Exports

Exports from Turkey

In 2022, shipments abroad of diphosphorus pentaoxide decreased by -82.4% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, recorded significant growth. The growth pace was the most rapid in 2017 when exports increased by 39,037% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then reduced remarkably in the following year.

In value terms, diphosphorus pentaoxide exports reduced markedly to $X in 2022. Overall, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2017 with an increase of 57,700% against the previous year. The exports peaked at $X in 2021, and then fell sharply in the following year.

Exports by Country

Azerbaijan (X tons) was the main destination for diphosphorus pentaoxide exports from Turkey, accounting for a 76% share of total exports. Moreover, diphosphorus pentaoxide exports to Azerbaijan exceeded the volume sent to the second major destination, Algeria (X tons), threefold.

From 2013 to 2022, the average annual growth rate of volume to Azerbaijan amounted to +54.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Algeria (-65.1% per year) and Egypt (-64.1% per year).

In value terms, Azerbaijan ($X) emerged as the key foreign market for diphosphorus pentaoxide exports from Turkey, comprising 76% of total exports. The second position in the ranking was held by Algeria ($X), with a 24% share of total exports.

From 2013 to 2022, the average annual rate of growth in terms of value to Azerbaijan stood at +60.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Algeria (-57.1% per year) and Egypt (-72.8% per year).

Export Prices by Country

In 2022, the average diphosphorus pentaoxide export price amounted to $X per ton, shrinking by -11.9% against the previous year. Over the period under review, the export price, however, showed a noticeable expansion. The pace of growth was the most pronounced in 2015 when the average export price increased by 78% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Azerbaijan ($X per ton), while the average price for exports to Egypt ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Uzbekistan (+30.2%), while the prices for the other major destinations experienced more modest paces of growth.

Diphosphorus Pentaoxide Imports

Imports into Turkey

In 2022, diphosphorus pentaoxide imports into Turkey surged to X tons, with an increase of 39% compared with the previous year's figure. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +7.1% 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 +33.2% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 59% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, diphosphorus pentaoxide imports skyrocketed to $X in 2022. Overall, imports showed a buoyant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest diphosphorus pentaoxide supplier to Turkey, with a 77% share of total imports. Moreover, diphosphorus pentaoxide imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), fivefold. The third position in this ranking was held by India (X tons), with a 6.8% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.0% per year) and India (+16,031.3% per year).

In value terms, China ($X) constituted the largest supplier of diphosphorus pentaoxide to Turkey, comprising 75% of total imports. The second position in the ranking was held by Germany ($X), with a 14% share of total imports. It was followed by India, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China totaled +17.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+4.5% per year) and India (+15,422.3% per year).

Import Prices by Country

The average diphosphorus pentaoxide import price stood at $X per ton in 2022, surging by 40% against the previous year. In general, the import price posted a resilient increase. The growth pace was the most rapid in 2021 when the average import price increased by 46%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+10.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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