Turkey: Ethylene Glycol Market 2025

Ethylene Glycol Market Size in Turkey

In 2022, the Turkish ethylene glycol market increased by 4.3% to $X, rising for the second consecutive year after two years of decline. Overall, consumption recorded a prominent increase. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Ethylene Glycol Exports

Exports from Turkey

After two years of growth, overseas shipments of ethylene glycol (ethanediol) decreased by -60% to X tons in 2014. Overall, exports, however, saw a mild expansion. The pace of growth was the most pronounced in 2013 when exports increased by 157% against the previous year. As a result, the exports attained the peak of X tons, and then dropped remarkably in the following year.

In value terms, ethylene glycol exports plummeted to $X in 2014. Over the period under review, exports showed a mild downturn. The most prominent rate of growth was recorded in 2013 with an increase of 161% against the previous year. As a result, the exports attained the peak of $X, and then shrank remarkably in the following year.

Exports by Country

Greece (X tons) was the main destination for ethylene glycol exports from Turkey, accounting for a 57% share of total exports. Moreover, ethylene glycol exports to Greece exceeded the volume sent to the second major destination, Bulgaria (X tons), twofold. The third position in this ranking was taken by Romania (X tons), with a 5.7% share.

From 2012 to 2014, the average annual growth rate of volume to Greece totaled +86.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+0.5% per year) and Romania (+12.5% per year).

In value terms, Greece ($X) remains the key foreign market for ethylene glycol (ethanediol) exports from Turkey, comprising 53% of total exports. The second position in the ranking was held by Bulgaria ($X), with a 26% share of total exports. It was followed by Romania, with a 5.9% share.

From 2012 to 2014, the average annual growth rate of value to Greece amounted to +76.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+2.2% per year) and Romania (+9.6% per year).

Export Prices by Country

In 2014, the average ethylene glycol export price amounted to $X per ton, declining by -7.8% against the previous year. Over the period under review, the export price continues to indicate a perceptible setback. The most prominent rate of growth was recorded in 2013 an increase of 1.6% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced in the following year.

Average prices varied somewhat for the major foreign markets. In 2014, amid the top suppliers, the highest price was recorded for prices to Azerbaijan ($X per ton) and Romania ($X per ton), while the average price for exports to Greece ($X per ton) and Bulgaria ($X per ton) were amongst the lowest.

From 2012 to 2014, the most notable rate of growth in terms of prices was recorded for supplies to Azerbaijan (+11.0%), while the prices for the other major destinations experienced mixed trend patterns.

Ethylene Glycol Imports

Imports into Turkey

In 2022, overseas purchases of ethylene glycol (ethanediol) increased by 8.9% to X tons, rising for the second consecutive year after two years of decline. In general, imports saw a significant expansion. The growth pace was the most rapid in 2021 when imports increased by 165%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, ethylene glycol imports reached $X in 2022. Overall, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of 108%. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest ethylene glycol supplier to Turkey, with a 70% share of total imports. Moreover, ethylene glycol imports from the United States exceeded the figures recorded by the second-largest supplier, Saudi Arabia (X tons), fourfold. The third position in this ranking was taken by Kuwait (X tons), with a 9.8% share.

From 2012 to 2022, the average annual growth rate of volume from the United States amounted to +67.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+30.1% per year) and Kuwait (+2.4% per year).

In value terms, the United States ($X) constituted the largest supplier of ethylene glycol (ethanediol) to Turkey, comprising 70% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 16% share of total imports. It was followed by Kuwait, with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled +57.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+22.5% per year) and Kuwait (-4.4% per year).

Import Prices by Country

The average ethylene glycol import price stood at $X per ton in 2022, falling by -7.9% against the previous year. In general, the import price showed a abrupt setback. The most prominent rate of growth was recorded in 2018 when the average import price increased by 18% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a 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 South Korea ($X per ton) and Taiwan (Chinese) ($X per ton), while the price for Kuwait ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (-5.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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