Turkey: Market for Glass Fibres and Glass Fibre Articles 2024

Market Size for Glass Fibres and Glass Fibre Articles in Turkey

The Turkish glass fibre and article market contracted to $X in 2022, reducing by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X, and then fell in the following year.

Production of Glass Fibres and Glass Fibre Articles in Turkey

In value terms, glass fibre and article production shrank significantly to $X in 2022 estimated in export price. Over the period under review, production, however, saw prominent growth. The growth pace was the most rapid in 2021 with an increase of X%. Glass fibre and article production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Glass Fibres and Glass Fibre Articles

Exports from Turkey

After five years of growth, overseas shipments of glass fibres and glass fibre articles decreased by X% to X tons in 2022. Overall, total exports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2016 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons, and then shrank significantly in the following year.

In value terms, glass fibre and article exports fell to $X in 2022. In general, total exports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2018 indices. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then declined in the following year.

Exports by Country

Italy (X tons), Israel (X tons) and Spain (X tons) were the main destinations of glass fibre and article exports from Turkey, together accounting for X% of total exports. Romania, Bulgaria, Germany, Hungary, Poland, Egypt, Australia, Greece, France and Thailand lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), Spain ($X) and Germany ($X) appeared to be the largest markets for glass fibre and article exported from Turkey worldwide, together comprising X% of total exports. Israel, Bulgaria, Poland, Hungary, Romania, Egypt, France, Greece, Thailand and Australia lagged somewhat behind, together accounting for a further X%.

Hungary, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average glass fibre and article export price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 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 Germany ($X per ton), while the average price for exports to Australia ($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 Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres and Glass Fibre Articles

Imports into Turkey

In 2022, purchases abroad of glass fibres and glass fibre articles increased by X% to X tons, rising for the third year in a row after two years of decline. In general, imports saw strong growth. The growth pace was the most rapid in 2021 when imports increased by X%. Imports peaked in 2022 and are likely to see steady growth in years to come.

In value terms, glass fibre and article imports rose remarkably to $X in 2022. Overall, imports recorded a remarkable increase. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

China (X tons), Egypt (X tons) and Bahrain (X tons) were the main suppliers of glass fibre and article imports to Turkey, with a combined X% share of total imports.

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

In value terms, China ($X) constituted the largest supplier of glass fibres and glass fibre articles to Turkey, comprising X% of total imports. The second position in the ranking was held by Egypt ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual growth rate of value from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (X% per year) and Germany (X% per year).

Import Prices by Country

The average glass fibre and article import price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by X%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 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 Germany ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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