Turkey: Nitrites Market 2024

Nitrites Market Size in Turkey

In 2021, the Turkish nitrites market increased by 54% to $X for the first time since 2018, thus ending a two-year declining trend. In general, the total consumption indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +5.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Nitrites Exports

Exports from Turkey

In 2021, overseas shipments of nitrites decreased by -36.7% to X tons, falling for the second year in a row after two years of growth. Overall, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2019 when exports increased by 203% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, nitrites exports declined remarkably to $X in 2021. In general, exports recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2019 when exports increased by 116%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Azerbaijan (X tons), Egypt (X tons) and Kyrgyzstan (X tons) were the main destinations of nitrites exports from Turkey, together comprising 61% of total exports.

From 2012 to 2021, the biggest increases were recorded for Azerbaijan (with a CAGR of +68.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for nitrites exported from Turkey were Azerbaijan ($X), Liberia ($X) and Egypt ($X), together accounting for 51% of total exports.

Azerbaijan, with a CAGR of +73.8%, recorded the highest rates of growth with regard to the value of exports, among 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

In 2021, the average nitrites export price amounted to $X per ton, picking up by 18% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 when the average export price increased by 37% against the previous year. Over the period under review, the average export prices reached the maximum in 2021 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 Liberia ($X per ton), while the average price for exports to Egypt ($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 Liberia (+7.5%), while the prices for the other major destinations experienced more modest paces of growth.

Nitrites Imports

Imports into Turkey

In 2021, the amount of nitrites imported into Turkey soared to X tons, increasing by 36% compared with 2020 figures. The total import volume increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, nitrites imports surged to $X in 2021. Over the period under review, total imports indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of nitrites to Turkey, with a 62% share of total imports. Moreover, nitrites imports from Germany exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. The third position in this ranking was held by China (X tons), with a 16% share.

From 2012 to 2021, the average annual growth rate of volume from Germany stood at +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+13.4% per year) and China (-4.0% per year).

In value terms, Germany ($X) constituted the largest supplier of nitrites to Turkey, comprising 63% of total imports. The second position in the ranking was taken by India ($X), with an 18% share of total imports. It was followed by China, with a 16% share.

From 2012 to 2021, the average annual growth rate of value from Germany stood at +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+10.6% per year) and China (-0.0% per year).

Import Prices by Country

In 2021, the average nitrites import price amounted to $X per ton, increasing by 12% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.9%. The growth pace was the most rapid in 2018 an increase of 16%. The import price peaked in 2021 and is expected to retain growth in the immediate term.

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 Italy ($X per ton), while the price for India ($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 (+4.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :