Turkey: Hedge Shear Market 2024

Hedge Shear Market Size in Turkey

In 2021, the Turkish hedge shear market increased by 8.8% to $X, rising for the fourth consecutive year after two years of decline. In general, the total consumption indicated a strong expansion from 2012 to 2021: its value increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +97.1% against 2017 indices. Hedge shear consumption peaked in 2021 and is likely to see gradual growth in years to come.

Hedge Shear Production in Turkey

In value terms, hedge shear production reduced to $X in 2021 estimated in export price. Overall, the total production indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +4.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +80.3% against 2017 indices. The most prominent rate of growth was recorded in 2014 when the production volume increased by 39% against the previous year. Hedge shear production peaked at $X in 2020, and then reduced in the following year.

Hedge Shear Exports

Exports from Turkey

In 2021, shipments abroad of hedge shears and two-handed pruning shears increased by 348% to X tons for the first time since 2017, thus ending a three-year declining trend. Overall, exports saw a pronounced increase. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, hedge shear exports surged to $X in 2021. In general, exports, however, saw a noticeable setback. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Iraq (X tons), Iran (X tons) and Egypt (X tons) were the main destinations of hedge shear exports from Turkey, together accounting for 55% of total exports. These countries were followed by the Netherlands, Serbia, Guinea, Cyprus, Lebanon, Azerbaijan, Morocco, Kazakhstan, Bulgaria and the United Arab Emirates, which together accounted for a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +160.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for hedge shear exported from Turkey were Iran ($X), Iraq ($X) and the Netherlands ($X), with a combined 60% share of total exports.

Among the main countries of destination, the Netherlands, with a CAGR of +151.8%, recorded the highest rates of growth with regard to 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

The average hedge shear export price stood at $X per ton in 2021, dropping by -10.4% against the previous year. In general, the export price continues to indicate a deep contraction. The most prominent rate of growth was recorded in 2019 when the average export price increased by 55%. Over the period under review, the average export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Iran ($X per ton), while the average price for exports to Egypt ($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 United Arab Emirates (+20.6%), while the prices for the other major destinations experienced more modest paces of growth.

Hedge Shear Imports

Imports into Turkey

In 2021, supplies from abroad of hedge shears and two-handed pruning shears increased by 277% to X tons, rising for the third year in a row after two years of decline. In general, imports continue to indicate a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, hedge shear imports surged to $X in 2021. Over the period under review, imports enjoyed a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of hedge shear to Turkey, accounting for a 80% share of total imports. Moreover, hedge shear imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), more than tenfold. Poland (X tons) ranked third in terms of total imports with a 5.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +29.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+35.7% per year) and Poland (+40.4% per year).

In value terms, the largest hedge shear suppliers to Turkey were Poland ($X), China ($X) and Germany ($X), with a combined 77% share of total imports.

Among the main suppliers, Poland, with a CAGR of +40.2%, recorded 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 hedge shear import price stood at $X per ton in 2021, which is down by -20.2% against the previous year. Over the period under review, the import price recorded a perceptible reduction. The pace of growth appeared the most rapid in 2014 when the average import price increased by 50%. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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