Turkey: Aromatic Hydrocarbons Derivatives Market 2024

Aromatic Hydrocarbons Derivatives Market Size in Turkey

The Turkish aromatic hydrocarbons derivatives market contracted markedly to $X in 2021, dropping by -18.9% against the previous year. In general, consumption, however, continues to indicate resilient growth. Aromatic hydrocarbons derivatives consumption peaked at $X in 2020, and then reduced remarkably in the following year.

Aromatic Hydrocarbons Derivatives Production in Turkey

In value terms, aromatic hydrocarbons derivatives production reduced sharply to $X in 2021 estimated in export price. Overall, production, however, showed significant growth. The growth pace was the most rapid in 2013 with an increase of 204%. Over the period under review, production hit record highs at $X in 2020, and then fell markedly in the following year.

Aromatic Hydrocarbons Derivatives Exports

Exports from Turkey

In 2021, after four years of growth, there was significant decline in shipments abroad of halogenated derivatives of aromatic hydrocarbons, when their volume decreased by -6% to X tons. In general, exports, however, saw notable growth. The pace of growth appeared the most rapid in 2017 with an increase of 1,159%. Over the period under review, the exports hit record highs at X tons in 2020, and then declined in the following year.

In value terms, aromatic hydrocarbons derivatives exports contracted significantly to $X in 2021. Over the period under review, exports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 402%. The exports peaked at $X in 2020, and then fell notably in the following year.

Exports by Country

Spain (X tons) was the main destination for aromatic hydrocarbons derivatives exports from Turkey, accounting for a 76% share of total exports. Moreover, aromatic hydrocarbons derivatives exports to Spain exceeded the volume sent to the second major destination, Ukraine (X tons), sixfold. Iran (X tons) ranked third in terms of total exports with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Spain was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (0.0% per year) and Iran (+33.9% per year).

In value terms, Spain ($X) emerged as the key foreign market for halogenated derivatives of aromatic hydrocarbons exports from Turkey, comprising 76% of total exports. The second position in the ranking was taken by Iran ($X), with a 12% share of total exports. It was followed by Ukraine, with a 4.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Spain was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+29.6% per year) and Ukraine (0.0% per year).

Export Prices by Country

In 2021, the average aromatic hydrocarbons derivatives export price amounted to $X per ton, declining by -17.3% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of 132% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iran ($X per ton), while the average price for exports to Ukraine ($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 Iraq (+54.3%), while the prices for the other major destinations experienced more modest paces of growth.

Aromatic Hydrocarbons Derivatives Imports

Imports into Turkey

In 2021, overseas purchases of halogenated derivatives of aromatic hydrocarbons decreased by -11.2% to X tons for the first time since 2018, thus ending a two-year rising trend. Over the period under review, imports showed a noticeable downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 41%. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, aromatic hydrocarbons derivatives imports skyrocketed to $X in 2021. In general, total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +52.6% against 2018 indices. The pace of growth was the most pronounced in 2019 with an increase of 32%. Over the period under review, imports hit record highs in 2021 and are expected to retain growth in the near future.

Imports by Country

In 2021, China (X tons) constituted the largest aromatic hydrocarbons derivatives supplier to Turkey, accounting for a 50% share of total imports. Moreover, aromatic hydrocarbons derivatives imports from China exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. The third position in this ranking was taken by India (X tons), with a 15% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+4.5% per year) and India (-15.8% per year).

In value terms, China ($X) constituted the largest supplier of halogenated derivatives of aromatic hydrocarbons to Turkey, comprising 71% of total imports. The second position in the ranking was held by the United States ($X), with a 14% share of total imports. It was followed by Belgium, with a 5.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China amounted to +10.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+32.0% per year) and Belgium (+1.8% per year).

Import Prices by Country

In 2021, the average aromatic hydrocarbons derivatives import price amounted to $X per ton, surging by 37% against the previous year. Over the period under review, the import price posted buoyant growth. The most prominent rate of growth was recorded in 2018 when the average import price increased by 54%. Over the period under review, average import prices hit record highs in 2021 and is likely to continue growth in the near future.

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 the United States ($X per ton), while the price for India ($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 (+10.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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