Turkey: Glass Fibre Filament Market 2024

Glass Fibre Filament Market Size in Turkey

In 2021, the Turkish glass fibre filament market was finally on the rise to reach $X after four years of decline. Overall, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Glass Fibre Filament Production in Turkey

In value terms, glass fibre filament production soared to $X in 2021 estimated in export price. In general, production, however, recorded a slight contraction. The pace of growth appeared the most rapid in 2016 with an increase of 50%. Glass fibre filament production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Glass Fibre Filament Exports

Exports from Turkey

In 2021, overseas shipments of glass fibre filaments increased by 54% to X tons, rising for the fourth year in a row after five years of decline. In general, exports, however, saw a pronounced shrinkage. The growth pace was the most rapid in 2019 when exports increased by 169%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, glass fibre filament exports soared to $X in 2021. Over the period under review, exports, however, continue to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2019 with an increase of 129% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Hungary (X tons), Italy (X tons) and France (X tons) were the main destinations of glass fibre filament exports from Turkey, with a combined 62% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hungary (with a CAGR of +254.0%), while the other leaders experienced more modest paces of growth.

In value terms, Hungary ($X), Italy ($X) and France ($X) appeared to be the largest markets for glass fibre filament exported from Turkey worldwide, together accounting for 55% of total exports.

In terms of the main countries of destination, Hungary, with a CAGR of +217.1%, recorded 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 glass fibre filament export price amounted to $X per ton, growing by 9.9% against the previous year. In general, the export price, however, saw a mild reduction. The pace of growth was the most pronounced in 2016 an increase of 14% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the countries with the highest prices were Romania ($X per ton) and the UK ($X per ton), while the average price for exports to Austria ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Poland (-0.8%), while the prices for the other major destinations experienced a decline.

Glass Fibre Filament Imports

Imports into Turkey

In 2021, overseas purchases of glass fibre filaments increased by 98% to X tons, rising for the second consecutive year after two years of decline. Overall, imports showed a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, glass fibre filament imports skyrocketed to $X in 2021. In general, imports recorded a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Egypt (X tons), China (X tons) and Bahrain (X tons) were the main suppliers of glass fibre filament imports to Turkey, with a combined 79% share of total imports. These countries were followed by the United States, Norway, the UK and Italy, which together accounted for a further 19%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +70.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest glass fibre filament suppliers to Turkey were China ($X), Egypt ($X) and Bahrain ($X), together comprising 74% of total imports. These countries were followed by Norway, the United States, the UK and Italy, which together accounted for a further 21%.

In terms of the main suppliers, Norway, with a CAGR of +64.3%, 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 glass fibre filament import price stood at $X per ton in 2021, rising by 19% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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