Turkey: Acrylic Acid Esters Market 2024

Acrylic Acid Esters Market Size in Turkey

The Turkish acrylic acid esters market reduced to $X in 2022, with a decrease of -10.3% against the previous year. Over the period under review, consumption, however, saw buoyant growth. Acrylic acid esters consumption peaked at $X in 2021, and then declined in the following year.

Acrylic Acid Esters Production in Turkey

In value terms, acrylic acid esters production reduced to $X in 2022 estimated in export price. Overall, production, however, posted prominent growth. The pace of growth was the most pronounced in 2016 with an increase of 34% against the previous year. Acrylic acid esters production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Acrylic Acid Esters Exports

Exports from Turkey

In 2022, approx. X tons of esters of acrylic acid were exported from Turkey; with an increase of 60% on the previous year's figure. Over the period under review, exports posted significant growth. The growth pace was the most rapid in 2015 with an increase of 636%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, acrylic acid esters exports soared to $X in 2022. In general, exports posted a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 622% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Belgium (X tons) was the main destination for acrylic acid esters exports from Turkey, accounting for a 30% share of total exports. Moreover, acrylic acid esters exports to Belgium exceeded the volume sent to the second major destination, Greece (X tons), twofold. Egypt (X tons) ranked third in terms of total exports with an 8.9% share.

From 2012 to 2022, the average annual growth rate of volume to Belgium stood at +199.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+45.8% per year) and Egypt (+126.5% per year).

In value terms, Belgium ($X) emerged as the key foreign market for esters of acrylic acid exports from Turkey, comprising 31% of total exports. The second position in the ranking was taken by Greece ($X), with a 14% share of total exports. It was followed by Brazil, with a 7.7% share.

From 2012 to 2022, the average annual growth rate of value to Belgium stood at +181.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+44.9% per year) and Brazil (0.0% per year).

Export Prices by Country

The average acrylic acid esters export price stood at $X per ton in 2022, waning by -1.8% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 116% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Egypt ($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 the United States (+20.3%), while the prices for the other major destinations experienced more modest paces of growth.

Acrylic Acid Esters Imports

Imports into Turkey

In 2022, imports of esters of acrylic acid into Turkey dropped markedly to X tons, which is down by -29.7% compared with 2021 figures. Overall, imports, however, enjoyed a buoyant expansion. The growth pace was the most rapid in 2021 when imports increased by 110%. As a result, imports reached the peak of X tons, and then declined notably in the following year.

In value terms, acrylic acid esters imports reduced notably to $X in 2022. Over the period under review, imports, however, showed a perceptible increase. The pace of growth appeared the most rapid in 2021 when imports increased by 196% against the previous year. As a result, imports attained the peak of $X, and then declined dramatically in the following year.

Imports by Country

China (X tons), Saudi Arabia (X tons) and Russia (X tons) were the main suppliers of acrylic acid esters imports to Turkey, with a combined 82% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of +26.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), Saudi Arabia ($X) and Russia ($X) appeared to be the largest acrylic acid esters suppliers to Turkey, with a combined 79% share of total imports.

Among the main suppliers, Saudi Arabia, with a CAGR of +33.6%, 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

The average acrylic acid esters import price stood at $X per ton in 2022, increasing by 10% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 41%. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+5.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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