Turkey: Heterocyclic Compound Market 2024

Heterocyclic Compound Market Size in Turkey

The Turkish heterocyclic compound market soared to $X in 2022, jumping by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Heterocyclic compound consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Heterocyclic Compound Exports

Exports from Turkey

For the third consecutive year, Turkey recorded decline in overseas shipments of heterocyclic compounds, which decreased by X% to X tons in 2022. In general, exports recorded a pronounced reduction. The pace of growth appeared the most rapid in 2016 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, heterocyclic compound exports soared to $X in 2022. Over the period under review, exports recorded a deep downturn. The growth pace was the most rapid in 2014 with an increase of X%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Iran (X tons) was the main destination for heterocyclic compound exports from Turkey, with a X% share of total exports. Moreover, heterocyclic compound exports to Iran exceeded the volume sent to the second major destination, Algeria (X tons), fourfold. Kazakhstan (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Iran amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Algeria (X% per year) and Kazakhstan (X% per year).

In value terms, Iran ($X) remains the key foreign market for heterocyclic compounds exports from Turkey, comprising X% of total exports. The second position in the ranking was held by Kazakhstan ($X), with a X% share of total exports. It was followed by Algeria, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Iran was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Kazakhstan (X% per year) and Algeria (X% per year).

Export Prices by Country

In 2022, the average heterocyclic compound export price amounted to $X per ton, jumping by X% against the previous year. Overall, the export price, however, showed a abrupt contraction. The pace of growth appeared the most rapid in 2013 an increase of X%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Ukraine ($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 Free Zones (X%), while the prices for the other major destinations experienced more modest paces of growth.

Heterocyclic Compound Imports

Imports into Turkey

Heterocyclic compound imports into Turkey soared to X tons in 2022, surging by X% on 2021. In general, imports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X%. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, heterocyclic compound imports surged to $X in 2022. Over the period under review, total imports indicated a strong 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, imports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest heterocyclic compound supplier to Turkey, accounting for a X% share of total imports. Moreover, heterocyclic compound imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), fourfold. Germany (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Germany (X% per year).

In value terms, the largest heterocyclic compound suppliers to Turkey were China ($X), India ($X) and Germany ($X), with a combined X% share of total imports.

China, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average heterocyclic compound import price stood at $X per ton in 2022, falling by X% against the previous year. In general, the import price, however, continues to indicate a buoyant increase. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The import price peaked at $X per ton in 2021, and then fell in the following year.

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 India ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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