Turkey: Hydantoin Market 2024

Hydantoin Market Size in Turkey

The Turkish hydantoin market dropped modestly to $X in 2022, which is down by -4.6% against the previous year. Over the period under review, consumption, however, continues to indicate a relatively flat trend pattern. Hydantoin consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Hydantoin Production in Turkey

In value terms, hydantoin production shrank to $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of 19%. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Hydantoin Exports

Exports from Turkey

In 2022, overseas shipments of hydantoin and its derivatives were finally on the rise to reach X tons after two years of decline. Overall, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by 1,252% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, hydantoin exports surged to $X in 2022. Over the period under review, exports, however, saw a abrupt downturn. The pace of growth appeared the most rapid in 2014 with an increase of 767% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Uzbekistan (X tons), Iran (X tons) and Israel (X tons) were the main destinations of hydantoin exports from Turkey, with a combined 80% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Uzbekistan (with a CAGR of +39.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Iran ($X) remains the key foreign market for hydantoin and its derivatives exports from Turkey, comprising 47% of total exports. The second position in the ranking was held by Israel ($X), with a 15% share of total exports. It was followed by Uzbekistan, with a 15% share.

From 2012 to 2022, the average annual growth rate of value to Iran stood at -4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (-12.5% per year) and Uzbekistan (+18.2% per year).

Export Prices by Country

The average hydantoin export price stood at $X per ton in 2022, dropping by -16.4% against the previous year. In general, the export price showed a deep downturn. The most prominent rate of growth was recorded in 2018 when the average export price increased by 129%. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 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 Kuwait ($X per ton), while the average price for exports to Uzbekistan ($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 the United Arab Emirates (+12.0%), while the prices for the other major destinations experienced more modest paces of growth.

Hydantoin Imports

Imports into Turkey

After five years of growth, purchases abroad of hydantoin and its derivatives decreased by -2.6% to X tons in 2022. In general, imports, however, enjoyed pronounced growth. The most prominent rate of growth was recorded in 2019 when imports increased by 106%. Over the period under review, imports reached the peak figure at X tons in 2021, and then fell slightly in the following year.

In value terms, hydantoin imports declined to $X in 2022. Overall, imports saw a deep slump. The most prominent rate of growth was recorded in 2019 when imports increased by 51%. Over the period under review, imports attained the maximum at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Finland (X tons) constituted the largest supplier of hydantoin to Turkey, accounting for a 75% share of total imports. Moreover, hydantoin imports from Finland exceeded the figures recorded by the second-largest supplier, India (X tons), ninefold. Israel (X tons) ranked third in terms of total imports with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Finland totaled +48.0%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-9.0% per year) and Israel (+17.0% per year).

In value terms, Finland ($X) constituted the largest supplier of hydantoin and its derivatives to Turkey, comprising 63% of total imports. The second position in the ranking was taken by China ($X), with an 8.6% share of total imports. It was followed by India, with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Finland stood at +45.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.5% per year) and India (-12.4% per year).

Import Prices by Country

The average hydantoin import price stood at $X per ton in 2022, shrinking by -5.5% against the previous year. Overall, the import price continues to indicate a abrupt curtailment. The growth pace was the most rapid in 2016 an increase of 70% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+14.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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