Turkey: Octyl Alcohol Market 2024

Octyl Alcohol Market Size in Turkey

In 2022, the Turkish octyl alcohol market increased by 7.5% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption showed strong growth. Over the period under review, the market reached the maximum level in 2022 and is likely to continue growth in years to come.

Octyl Alcohol Production in Turkey

In value terms, octyl alcohol production dropped to $X in 2022 estimated in export price. In general, production, however, posted a strong expansion. The most prominent rate of growth was recorded in 2014 when the production volume increased by 188%. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Octyl Alcohol Exports

Exports from Turkey

In 2022, octyl alcohol exports from Turkey reduced markedly to X tons, declining by -18.8% against 2021. Overall, exports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 10,935% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, octyl alcohol exports reduced markedly to $X in 2022. Over the period under review, exports, however, recorded significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 9,979%. Over the period under review, the exports hit record highs at $X in 2021, and then dropped significantly in the following year.

Exports by Country

Israel (X tons), Uzbekistan (X tons) and Poland (X tons) were the main destinations of octyl alcohol exports from Turkey, together accounting for 81% of total exports.

From 2012 to 2022, the biggest increases were recorded for Israel (with a CAGR of +4,690.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for octyl alcohol exported from Turkey were Uzbekistan ($X), Israel ($X) and Poland ($X), together comprising 81% of total exports.

Among the main countries of destination, Israel, with a CAGR of +2,843.5%, recorded the highest growth rate of 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 2022, the average octyl alcohol export price amounted to $X per ton, falling by -15.9% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 an increase of 62%. Over the period under review, the average export prices reached the maximum at $X per ton in 2021, and then shrank markedly in the following year.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were Egypt ($X per ton) and Poland ($X per ton), while the average price for exports to Germany ($X per ton) and Israel ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+22.6%), while the prices for the other major destinations experienced mixed trend patterns.

Octyl Alcohol Imports

Imports into Turkey

In 2022, approx. X tons of octanol (octyl alcohol) and isomers thereof were imported into Turkey; with an increase of 5.4% compared with the previous year. Overall, imports posted resilient growth. The pace of growth appeared the most rapid in 2021 when imports increased by 61% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, octyl alcohol imports expanded rapidly to $X in 2022. In general, imports saw a resilient expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 149% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

In 2022, Germany (X tons) constituted the largest octyl alcohol supplier to Turkey, with a 39% share of total imports. Moreover, octyl alcohol imports from Germany exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was held by Saudi Arabia (X tons), with a 9.3% share.

From 2012 to 2022, the average annual growth rate of volume from Germany totaled +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+220.9% per year) and Saudi Arabia (+0.7% per year).

In value terms, Germany ($X) constituted the largest supplier of octanol (octyl alcohol) and isomers thereof to Turkey, comprising 41% of total imports. The second position in the ranking was taken by China ($X), with a 19% share of total imports. It was followed by Poland, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +13.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+192.1% per year) and Poland (+2.2% per year).

Import Prices by Country

In 2022, the average octyl alcohol import price amounted to $X per ton, with an increase of 7% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 55%. Over the period under review, average import prices reached the peak figure in 2022 and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Romania ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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