Turkey: Wire And Cable Market 2024

Wire And Cable Market Size in Turkey

The Turkish wire and cable market skyrocketed to $X in 2021, rising by 42% against the previous year. Overall, consumption enjoyed a significant increase. Wire and cable consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Wire And Cable Production in Turkey

In value terms, wire and cable production surged to $X in 2021 estimated in export price. In general, production showed a prominent increase. The pace of growth appeared the most rapid in 2018 when the production volume increased by 82%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Wire And Cable Exports

Exports from Turkey

Wire and cable exports from Turkey reached X tons in 2021, with an increase of 6.9% against the previous year's figure. The total export volume increased at an average annual rate of +3.1% from 2012 to 2021; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when exports increased by 8.2% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, wire and cable exports soared to $X in 2021. The total export value increased at an average annual rate of +3.3% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The UK (X tons) was the main destination for wire and cable exports from Turkey, with a 29% share of total exports. Moreover, wire and cable exports to the UK exceeded the volume sent to the second major destination, Israel (X tons), fourfold. The third position in this ranking was held by Iraq (X tons), with a 6.6% share.

From 2012 to 2021, the average annual growth rate of volume to the UK amounted to +5.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Israel (+2.5% per year) and Iraq (-8.6% per year).

In value terms, the UK ($X) remains the key foreign market for insulated wire and cable exports from Turkey, comprising 27% of total exports. The second position in the ranking was held by Germany ($X), with an 8.9% share of total exports. It was followed by Iraq, with a 5.6% share.

From 2012 to 2021, the average annual growth rate of value to the UK stood at +7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+8.1% per year) and Iraq (-8.4% per year).

Export Prices by Country

The average wire and cable export price stood at $X per ton in 2021, increasing by 36% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to the United States ($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 Ireland (+2.7%), while the prices for the other major destinations experienced more modest paces of growth.

Wire And Cable Imports

Imports into Turkey

In 2021, purchases abroad of insulated wire and cable increased by 10% to X tons, rising for the second year in a row after three years of decline. The total import volume increased at an average annual rate of +3.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of 14%. As a result, imports reached the peak of X tons. From 2017 to 2021, the growth of imports remained at a lower figure.

In value terms, wire and cable imports surged to $X in 2021. Overall, total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.5% 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 +25.7% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X tons) constituted the largest wire and cable supplier to Turkey, with a 27% share of total imports. Moreover, wire and cable imports from China exceeded the figures recorded by the second-largest supplier, Bulgaria (X tons), twofold. Romania (X tons) ranked third in terms of total imports with a 7.1% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (+7.8% per year) and Romania (+3.8% per year).

In value terms, the largest wire and cable suppliers to Turkey were China ($X), Bulgaria ($X) and Romania ($X), with a combined 41% share of total imports. Germany, Egypt, Italy, Morocco, Portugal, South Korea, the Czech Republic, Austria and Spain lagged somewhat behind, together accounting for a further 33%.

Among the main suppliers, Egypt, with a CAGR of +27.9%, saw the highest rates of growth with regard to 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

The average wire and cable import price stood at $X per ton in 2021, picking up by 4.9% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.8%. The growth pace was the most rapid in 2018 an increase of 13% against the previous year. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in years to come.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+13.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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