Turkey: Market for High-Tenacity Filament Yarn Of Aramids 2024

Market Size for High-Tenacity Filament Yarn Of Aramids in Turkey

The Turkish high-tenacity filament aramids yarn market contracted to $X in 2022, waning by -5.3% against the previous year. The market value increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of High-Tenacity Filament Yarn Of Aramids in Turkey

In value terms, high-tenacity filament aramids yarn production dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when the production volume increased by 19% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of High-Tenacity Filament Yarn Of Aramids

Exports from Turkey

In 2022, the amount of high-tenacity filament yarn of aramids exported from Turkey soared to X tons, rising by 49% against 2021. Overall, exports posted a prominent increase. The most prominent rate of growth was recorded in 2017 with an increase of 105% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, high-tenacity filament aramids yarn exports soared to $X in 2022. Over the period under review, exports showed a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 193%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Slovakia (X tons), Bulgaria (X tons) and Belgium (X tons) were the main destinations of high-tenacity filament aramids yarn exports from Turkey, with a combined 57% share of total exports. Spain, Serbia, Switzerland, Russia, the United States, India, Germany, Mexico and Romania lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Mexico (with a CAGR of +359.2%), while the other leaders experienced more modest paces of growth.

In value terms, Bulgaria ($X), Russia ($X) and Spain ($X) appeared to be the largest markets for high-tenacity filament aramids yarn exported from Turkey worldwide, together comprising 43% of total exports. Belgium, the United States, Switzerland, Serbia, Germany, Romania, Slovakia, Mexico and India lagged somewhat behind, together accounting for a further 48%.

Mexico, with a CAGR of +324.8%, recorded the highest growth rate of 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

In 2022, the average high-tenacity filament aramids yarn export price amounted to $X per ton, shrinking by -14.6% against the previous year. Over the period under review, the export price, however, continues to indicate a strong increase. The pace of growth was the most pronounced in 2021 an increase of 172%. As a result, the export price attained the peak level of $X per ton, and then shrank in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Slovakia ($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 Russia (+20.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of High-Tenacity Filament Yarn Of Aramids

Imports into Turkey

In 2022, imports of high-tenacity filament yarn of aramids into Turkey stood at X tons, increasing by 8.4% on the previous year. Over the period under review, imports enjoyed buoyant growth. The pace of growth appeared the most rapid in 2015 when imports increased by 37%. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, high-tenacity filament aramids yarn imports totaled $X in 2022. Overall, imports posted resilient growth. The growth pace was the most rapid in 2013 with an increase of 45%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

The UK (X tons), South Korea (X tons) and the Netherlands (X tons) were the main suppliers of high-tenacity filament aramids yarn imports to Turkey, together comprising 81% of total imports. The United States, China and Spain lagged somewhat behind, together accounting for a further 16%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +58.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the UK ($X) constituted the largest supplier of high-tenacity filament yarn of aramids to Turkey, comprising 43% of total imports. The second position in the ranking was held by South Korea ($X), with a 19% share of total imports. It was followed by the United States, with a 16% share.

From 2012 to 2022, the average annual growth rate of value from the UK amounted to +20.8%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+7.4% per year) and the United States (+19.6% per year).

Import Prices by Country

In 2022, the average high-tenacity filament aramids yarn import price amounted to $X per ton, growing by 3.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.1%. The most prominent rate of growth was recorded in 2019 when the average import price increased by 17%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

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 the United States ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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