Turkey: Imines Market 2024

Imines Market Size in Turkey

In 2021, the Turkish imines market increased by 44% to $X, rising for the second consecutive year after two years of decline. The market value increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Imines Exports

Exports from Turkey

In 2021, exports of imines and their derivatives and salts thereof from Turkey skyrocketed to X tons, picking up by 98% against 2020. In general, exports showed a significant increase. The pace of growth was the most pronounced in 2019 when exports increased by 184%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, imines exports skyrocketed to $X in 2021. Overall, exports saw a significant increase. The most prominent rate of growth was recorded in 2014 with an increase of 416%. The exports peaked in 2021 and are likely to see steady growth in the immediate term.

Exports by Country

Iraq (X tons), France (X tons) and South Africa (X tons) were the main destinations of imines exports from Turkey, together comprising 86% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Iraq (with a CAGR of +210.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for imines exported from Turkey were France ($X), South Africa ($X) and Iraq ($X), together comprising 83% of total exports.

Iraq, with a CAGR of +223.7%, 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 more modest paces of growth.

Export Prices by Country

The average imines export price stood at $X per ton in 2021, increasing by 6.6% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 228%. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was France ($X per ton), while the average price for exports to Iraq ($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 France (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imines Imports

Imports into Turkey

In 2021, imports of imines and their derivatives and salts thereof into Turkey soared to X tons, increasing by 42% on the previous year. Over the period under review, total imports indicated resilient growth from 2012 to 2021: its volume increased at an average annual rate of +7.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +63.7% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imines imports soared to $X in 2021. Overall, total imports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +3.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +60.7% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, India (X tons) constituted the largest supplier of imines to Turkey, with a 55% share of total imports. Moreover, imines imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was taken by France (X tons), with a 12% share.

From 2012 to 2021, the average annual growth rate of volume from India totaled +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+18.4% per year) and France (+53.7% per year).

In value terms, India ($X), China ($X) and France ($X) appeared to be the largest imines suppliers to Turkey, with a combined 84% share of total imports. Russia, Germany and Indonesia lagged somewhat behind, together accounting for a further 7.7%.

Among the main suppliers, Indonesia, with a CAGR of +103.7%, saw the highest growth rate of the value of imports, 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 imines import price amounted to $X per ton, picking up by 9% against the previous year. In general, the import price, however, recorded a noticeable decline. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 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, the country with the highest price was Germany ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+9.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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