Turkey: Hollow Drill Bar Market 2024

Hollow Drill Bar Market Size in Turkey

The Turkish hollow drill bar market dropped to $X in 2021, waning by -14.6% against the previous year. Over the period under review, consumption saw a perceptible decline. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Hollow Drill Bar Production in Turkey

In value terms, hollow drill bar production shrank modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.8% over the period from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when the production volume increased by 31%. Hollow drill bar production peaked at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Hollow Drill Bar Exports

Exports from Turkey

In 2021, hollow drill bar exports from Turkey skyrocketed to X tons, with an increase of 106% compared with 2020. In general, exports recorded a significant increase. The pace of growth appeared the most rapid in 2015 with an increase of 29,950%. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

In value terms, hollow drill bar exports rose remarkably to $X in 2021. Overall, exports recorded a resilient increase. The growth pace was the most rapid in 2015 when exports increased by 23,827%. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

Exports by Country

Algeria (X tons) was the main destination for hollow drill bar exports from Turkey, with a 64% share of total exports. Moreover, hollow drill bar exports to Algeria exceeded the volume sent to the second major destination, Iran (X tons), twofold. The third position in this ranking was taken by the United Arab Emirates (X kg), with a 5.8% share.

From 2012 to 2021, the average annual growth rate of volume to Algeria totaled -49.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+73.4% per year) and the United Arab Emirates (-3.7% per year).

In value terms, the largest markets for hollow drill bar exported from Turkey were Algeria ($X), Iran ($X) and the United Arab Emirates ($X), together accounting for 74% of total exports.

Iran, with a CAGR of +79.6%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2021, the average hollow drill bar export price amounted to $X per ton, shrinking by -44.9% against the previous year. In general, the export price showed a abrupt downturn. The growth pace was the most rapid in 2018 an increase of 150% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Algeria ($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 Turkmenistan (+54.2%), while the prices for the other major destinations experienced mixed trend patterns.

Hollow Drill Bar Imports

Imports into Turkey

In 2021, approx. X tons of hollow drill bars and rods were imported into Turkey; which is down by -14.6% against 2020. In general, imports recorded a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of 1,125% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a lower figure.

In value terms, hollow drill bar imports surged to $X in 2021. Overall, imports, however, posted a moderate expansion. The most prominent rate of growth was recorded in 2018 with an increase of 1,109% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports remained at a lower figure.

Imports by Country

The United States (X tons), the UK (X tons) and China (X tons) were the main suppliers of hollow drill bar imports to Turkey, together accounting for 96% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +172.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest hollow drill bar suppliers to Turkey were the UK ($X), the United States ($X) and China ($X), with a combined 95% share of total imports.

The UK, with a CAGR of +355.3%, recorded the highest growth rate of 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

In 2021, the average hollow drill bar import price amounted to $X per ton, with an increase of 125% against the previous year. In general, the import price continues to indicate strong growth. The most prominent rate of growth was recorded in 2016 when the average import price increased by 129% against the previous year. The import price peaked in 2021 and is expected to retain growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+694.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :