Turkey: Starch Glue Market 2024

Starch Glue Market Size in Turkey

In 2021, after four years of decline, there was significant growth in the Turkish starch glue market, when its value increased by 12% to $X. In general, consumption saw tangible growth. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Starch Glue Production in Turkey

In value terms, starch glue production expanded rapidly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 with an increase of 45%. As a result, production attained the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Starch Glue Exports

Exports from Turkey

In 2021, approx. X tons of glues based on starches, dextrins or other modified starches were exported from Turkey; growing by 69% against 2020 figures. Overall, exports continue to indicate a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, starch glue exports skyrocketed to $X in 2021. Over the period under review, exports, however, recorded a slight curtailment. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Russia (X tons) was the main destination for starch glue exports from Turkey, accounting for a 35% share of total exports. Moreover, starch glue exports to Russia exceeded the volume sent to the second major destination, Iraq (X tons), fourfold. The third position in this ranking was held by Albania (X tons), with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Russia stood at +7.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (+12.2% per year) and Albania (+24.6% per year).

In value terms, Russia ($X) remains the key foreign market for glues based on starches, dextrins or other modified starches exports from Turkey, comprising 28% of total exports. The second position in the ranking was held by Iraq ($X), with an 11% share of total exports. It was followed by Georgia, with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Russia stood at +6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (+5.4% per year) and Georgia (+4.3% per year).

Export Prices by Country

In 2021, the average starch glue export price amounted to $X per ton, with an increase of 28% against the previous year. Over the period under review, the export price, however, saw a slight reduction. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iraq ($X per ton), while the average price for exports to Greece ($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 the UK (+29.3%), while the prices for the other major destinations experienced more modest paces of growth.

Starch Glue Imports

Imports into Turkey

In 2021, overseas purchases of glues based on starches, dextrins or other modified starches were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, imports recorded a resilient expansion. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, starch glue imports skyrocketed to $X in 2021. Over the period under review, imports saw a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest starch glue supplier to Turkey, with a 44% share of total imports. Moreover, starch glue imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. France (X tons) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands totaled +11.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+3.5% per year) and France (+40.2% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of glues based on starches, dextrins or other modified starches to Turkey, comprising 38% of total imports. The second position in the ranking was held by Germany ($X), with a 14% share of total imports. It was followed by Italy, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from the Netherlands totaled +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.5% per year) and Italy (+23.7% per year).

Import Prices by Country

The average starch glue import price stood at $X per ton in 2021, surging by 6.4% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. Over the period under review, average import prices reached the maximum at $X per ton in 2012; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Hungary ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+0.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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