Turkey: Ethyl Acetate Market 2024

Ethyl Acetate Market Size in Turkey

The Turkish ethyl acetate market reduced dramatically to $X in 2021, with a decrease of -90.3% against the previous year. Over the period under review, consumption showed a significant decline. The most prominent rate of growth was recorded in 2018 with an increase of 7.5%. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Ethyl Acetate Production in Turkey

In value terms, ethyl acetate production contracted dramatically to $X in 2021 estimated in export price. Over the period under review, production showed a drastic downturn. The pace of growth was the most pronounced in 2020 with an increase of 424% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2021, production stood at a somewhat lower figure.

Ethyl Acetate Exports

Exports from Turkey

In 2021, ethyl acetate exports from Turkey surged to X tons, jumping by 287% compared with 2020. In general, exports enjoyed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, ethyl acetate exports soared to $X in 2021. Over the period under review, exports recorded significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Italy (X tons), the Netherlands (X tons) and Greece (X tons) were the main destinations of ethyl acetate exports from Turkey, with a combined 57% share of total exports. These countries were followed by Bulgaria, Ukraine, Austria, Serbia, Egypt, Poland, Romania, Spain and Belgium, which together accounted for a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Austria (with a CAGR of +1,375.1%), while the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Greece ($X) and Bulgaria ($X) were the largest markets for ethyl acetate exported from Turkey worldwide, together accounting for 58% of total exports. These countries were followed by the Netherlands, Ukraine, Austria, Serbia, Egypt, Poland, Belgium, Spain and Romania, which together accounted for a further 33%.

Among the main countries of destination, Austria, with a CAGR of +2,779.2%, saw the highest growth rate of 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 ethyl acetate export price amounted to $X per ton, with an increase of 72% against the previous year. Over the period under review, export price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to the Netherlands ($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 Belgium (+99.9%), while the prices for the other major destinations experienced more modest paces of growth.

Ethyl Acetate Imports

Imports into Turkey

In 2021, the amount of ethyl acetate imported into Turkey shrank to X tons, reducing by -3.8% on 2020 figures. Overall, imports saw a slight decrease. The growth pace was the most rapid in 2018 when imports increased by 26%. As a result, imports attained the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, ethyl acetate imports surged to $X in 2021. In general, total imports indicated modest growth from 2012 to 2021: its value increased at an average annual rate of +1.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

China (X tons), the UK (X tons) and Saudi Arabia (X tons) were the main suppliers of ethyl acetate imports to Turkey, with a combined 71% share of total imports. Mexico, India, South Korea, Brazil and the United States lagged somewhat behind, together accounting for a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +189.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the UK ($X) and Saudi Arabia ($X) constituted the largest ethyl acetate suppliers to Turkey, with a combined 70% share of total imports. These countries were followed by Mexico, India, South Korea, Brazil and the United States, which together accounted for a further 27%.

In terms of the main suppliers, South Korea, with a CAGR of +232.8%, 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 ethyl acetate import price stood at $X per ton in 2021, growing by 79% against the previous year. In general, import price indicated tangible growth from 2012 to 2021: its price increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+14.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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