Turkey: Metal Honing Machine Market 2024

Metal Honing Machine Market Size in Turkey

After two years of decline, the Turkish metal honing machine market increased by 17% to $X in 2021. Overall, consumption, however, recorded a slight reduction. Metal honing machine consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Metal Honing Machine Exports

Exports from Turkey

In 2021, after two years of growth, there was significant decline in shipments abroad of honing or lapping machines for working metal, when their volume decreased by -50% to X units. Over the period under review, exports continue to indicate a perceptible downturn. The pace of growth appeared the most rapid in 2020 with an increase of 111%. As a result, the exports attained the peak of X units, and then declined markedly in the following year.

In value terms, metal honing machine exports reduced dramatically to $X in 2021. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 181% against the previous year. As a result, the exports attained the peak of $X, and then declined rapidly in the following year.

Exports by Country

Iran (X units) was the main destination for metal honing machine exports from Turkey, accounting for a 37% share of total exports. Moreover, metal honing machine exports to Iran exceeded the volume sent to the second major destination, the United Arab Emirates (X units), sevenfold. Romania (X units) ranked third in terms of total exports with a 5.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Iran totaled +24.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (0.0% per year) and Romania (0.0% per year).

In value terms, Iran ($X) emerged as the key foreign market for honing or lapping machines for working metal exports from Turkey, comprising 59% of total exports. The second position in the ranking was taken by Romania ($X), with a 14% share of total exports. It was followed by Nigeria, with a 9.9% share.

From 2012 to 2021, the average annual growth rate of value to Iran totaled +15.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+13.5% per year) and Nigeria (+4.4% per year).

Export Prices by Country

In 2021, the average metal honing machine export price amounted to $X per unit, which is down by -3.3% against the previous year. Overall, export price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +3.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, metal honing machine export price increased by +28.6% against 2019 indices. The pace of growth was the most pronounced in 2018 an increase of 76%. As a result, the export price reached the peak level of $X per unit. From 2019 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Libya (+435.9%), while the prices for the other major destinations experienced more modest paces of growth.

Metal Honing Machine Imports

Imports into Turkey

In 2021, imports of honing or lapping machines for working metal into Turkey dropped to X units, declining by -10.6% on 2020 figures. In general, imports showed a mild decline. The pace of growth appeared the most rapid in 2017 when imports increased by 53% against the previous year. Over the period under review, imports reached the maximum at X units in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, metal honing machine imports shrank significantly to $X in 2021. Overall, imports recorded a noticeable setback. The most prominent rate of growth was recorded in 2017 when imports increased by 138% against the previous year. Imports peaked at $X in 2020, and then contracted significantly in the following year.

Imports by Country

Italy (X units), Switzerland (X units) and the United States (X units) were the main suppliers of metal honing machine imports to Turkey, with a combined 63% share of total imports. China, Germany, the UK, Canada and the Netherlands lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +16.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of honing or lapping machines for working metal to Turkey, comprising 46% of total imports. The second position in the ranking was taken by Germany ($X), with a 14% share of total imports. It was followed by the United States, with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy totaled -6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-8.8% per year) and the United States (+5.2% per year).

Import Prices by Country

In 2021, the average metal honing machine import price amounted to $X per unit, declining by -42.4% against the previous year. Overall, the import price saw a noticeable decline. The most prominent rate of growth was recorded in 2018 when the average import price increased by 98%. Over the period under review, average import prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

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 Italy ($X per unit), while the price for the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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