Turkey: Ketone And Quinone Market 2024

Ketone And Quinone Market Size in Turkey

The Turkish ketone and quinone market skyrocketed to $X in 2021, increasing by 63% against the previous year. In general, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +85.4% against 2019 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Ketone And Quinone Production in Turkey

In value terms, ketone and quinone production dropped to $X in 2021 estimated in export price. Over the period under review, production, however, posted a buoyant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 44%. Ketone and quinone production peaked at $X in 2020, and then reduced in the following year.

Ketone And Quinone Exports

Exports from Turkey

Ketone and quinone exports from Turkey soared to X tons in 2021, with an increase of 83% compared with 2020. Overall, exports recorded a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, ketone and quinone exports surged to $X in 2021. In general, exports showed a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Bulgaria (X tons) was the main destination for ketone and quinone exports from Turkey, accounting for a 28% share of total exports. Moreover, ketone and quinone exports to Bulgaria exceeded the volume sent to the second major destination, Greece (X tons), twofold. The third position in this ranking was taken by Austria (X tons), with a 10% share.

From 2012 to 2021, the average annual growth rate of volume to Bulgaria amounted to +57.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+52.4% per year) and Austria (+53.7% per year).

In value terms, the largest markets for ketone and quinone exported from Turkey were the Netherlands ($X), Austria ($X) and Germany ($X), together accounting for 43% of total exports. These countries were followed by Bulgaria, the United States, Greece, Iran, Egypt, Spain, Brazil, Italy, Romania and Azerbaijan, which together accounted for a further 42%.

Greece, with a CAGR of +54.8%, recorded the highest growth rate of 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 ketone and quinone export price stood at $X per ton in 2021, rising by 22% against the previous year. In general, the export price, however, continues to indicate a abrupt curtailment. The export price peaked at $X per ton in 2012; however, from 2013 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, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Bulgaria ($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 Greece (+1.6%), while the prices for the other major destinations experienced a decline.

Ketone And Quinone Imports

Imports into Turkey

In 2021, after two years of decline, there was significant growth in purchases abroad of ketones and quinones, when their volume increased by 67% to X tons. Overall, total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, ketone and quinone imports soared to $X in 2021. Over the period under review, imports saw a strong expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Saudi Arabia (X tons), Belgium (X tons) and Russia (X tons) were the main suppliers of ketone and quinone imports to Turkey, with a combined 53% share of total imports. China, Spain, South Korea, the Netherlands and South Africa lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +54.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X) constituted the largest supplier of ketones and quinones to Turkey, comprising 28% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with an 11% share of total imports. It was followed by Belgium, with a 10% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +17.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Saudi Arabia (+5.6% per year) and Belgium (+41.4% per year).

Import Prices by Country

The average ketone and quinone import price stood at $X per ton in 2021, with an increase of 3.7% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 40% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; afterwards, it flattened through to 2021.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+2.6%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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