Turkey: Market for Glass Fibre Chopped Strands 2024

Market Size for Glass Fibre Chopped Strands in Turkey

The Turkish glass fibre chopped strand market was finally on the rise to reach $X in 2021, after six years of decline. Overall, consumption, however, continues to indicate a perceptible decline. Over the period under review, the market reached the peak level at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Production of Glass Fibre Chopped Strands in Turkey

In value terms, glass fibre chopped strand production totaled $X in 2021 estimated in export price. Overall, production, however, saw a deep contraction. The growth pace was the most rapid in 2013 when the production volume increased by 41%. Glass fibre chopped strand production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Exports of Glass Fibre Chopped Strands

Exports from Turkey

For the third year in a row, Turkey recorded growth in overseas shipments of glass fibre chopped strands, which increased by 25% to X tons in 2021. In general, exports, however, continue to indicate a perceptible decline. The growth pace was the most rapid in 2020 with an increase of 119% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, glass fibre chopped strand exports surged to $X in 2021. Over the period under review, exports, however, recorded a abrupt curtailment. The pace of growth was the most pronounced in 2020 with an increase of 88% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Italy (X tons) was the main destination for glass fibre chopped strand exports from Turkey, with a 73% share of total exports. Moreover, glass fibre chopped strand exports to Italy exceeded the volume sent to the second major destination, Germany (X tons), sixfold. The third position in this ranking was held by Spain (X tons), with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Italy totaled +2.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-10.7% per year) and Spain (+6.5% per year).

In value terms, Italy ($X) remains the key foreign market for glass fibre chopped strands exports from Turkey, comprising 71% of total exports. The second position in the ranking was held by Germany ($X), with a 13% share of total exports. It was followed by Spain, with a 7.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Italy was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-13.3% per year) and Spain (+6.4% per year).

Export Prices by Country

In 2021, the average glass fibre chopped strand export price amounted to $X per ton, surging by 5.9% against the previous year. Overall, the export price, however, continues to indicate a pronounced descent. The most prominent rate of growth was recorded in 2018 an increase of 13% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the average export prices failed to regain momentum.

Average prices varied somewhat for the major foreign markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Spain ($X per ton) and Germany ($X per ton), while the average price for exports to India ($X per ton) and Italy ($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 Free Zones (+3.1%), while the prices for the other major destinations experienced a decline.

Imports of Glass Fibre Chopped Strands

Imports into Turkey

In 2021, approx. X tons of glass fibre chopped strands were imported into Turkey; increasing by 38% on 2020 figures. In general, imports saw significant growth. The most prominent rate of growth was recorded in 2016 with an increase of 72% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in years to come.

In value terms, glass fibre chopped strand imports skyrocketed to $X in 2021. Overall, imports posted significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Egypt (X tons) constituted the largest glass fibre chopped strand supplier to Turkey, with a 56% share of total imports. Moreover, glass fibre chopped strand imports from Egypt exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold. The third position in this ranking was held by Slovakia (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Egypt totaled +75.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+9.4% per year) and Slovakia (+19.4% per year).

In value terms, Egypt ($X) constituted the largest supplier of glass fibre chopped strands to Turkey, comprising 51% of total imports. The second position in the ranking was held by Malaysia ($X), with an 18% share of total imports. It was followed by Slovakia, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Egypt totaled +73.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+9.2% per year) and Slovakia (+18.9% per year).

Import Prices by Country

In 2021, the average glass fibre chopped strand import price amounted to $X per ton, picking up by 21% against the previous year. In general, the import price, however, recorded a noticeable decline. The import price peaked at $X per ton in 2012; however, from 2013 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 China ($X per ton), while the price for Egypt ($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 (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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