Turkey: Insulating Fittings Market 2024

Insulating Fittings Market Size in Turkey

The Turkish insulating fittings market contracted to $X in 2021, which is down by -14.8% against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. Insulating fittings consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Insulating Fittings Production in Turkey

In value terms, insulating fittings production totaled $X in 2021 estimated in export price. In general, production saw a slight curtailment. The growth pace was the most rapid in 2017 when the production volume increased by 56% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2021, production growth remained at a somewhat lower figure.

Insulating Fittings Exports

Exports from Turkey

In 2021, approx. X tons of insulating fittings for electrical purposes were exported from Turkey; with an increase of 136% against 2020. Overall, exports showed a prominent expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, insulating fittings exports soared to $X in 2021. In general, total exports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Bulgaria (X tons), Egypt (X tons) and Italy (X tons) were the main destinations of insulating fittings exports from Turkey, together accounting for 40% 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 Bulgaria (with a CAGR of +78.5%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Egypt ($X) and Italy ($X) were the largest markets for insulating fittings exported from Turkey worldwide, with a combined 34% share of total exports. Bulgaria, Russia, France, Iran, Ukraine, the United Arab Emirates, Croatia, Saudi Arabia, Qatar and Turkmenistan lagged somewhat behind, together accounting for a further 38%.

Among the main countries of destination, Bulgaria, with a CAGR of +40.2%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average insulating fittings export price amounted to $X per ton, with a decrease of -19% against the previous year. Over the period under review, the export price continues to indicate a abrupt setback. The pace of growth appeared the most rapid in 2017 an increase of 10% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Turkmenistan ($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 Russia (+2.5%), while the prices for the other major destinations experienced more modest paces of growth.

Insulating Fittings Imports

Imports into Turkey

In 2021, imports of insulating fittings for electrical purposes into Turkey surged to X tons, jumping by 89% compared with the year before. Overall, imports enjoyed buoyant growth. The growth pace was the most rapid in 2013 with an increase of 643% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports failed to regain momentum.

In value terms, insulating fittings imports soared to $X in 2021. Over the period under review, imports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 398% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest insulating fittings supplier to Turkey, accounting for a 74% share of total imports. Moreover, insulating fittings imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), fivefold. Poland (X tons) ranked third in terms of total imports with a 2.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China totaled +13.5%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+139.0% per year) and Poland (+112.5% per year).

In value terms, the largest insulating fittings suppliers to Turkey were China ($X), India ($X) and Ukraine ($X), together comprising 62% of total imports.

In terms of the main suppliers, India, with a CAGR of +149.9%, 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

The average insulating fittings import price stood at $X per ton in 2021, reducing by -21.2% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average import price increased by 152% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a 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 Ukraine ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+4.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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