Turkey: Market for Other Synthetic Organic Colouring Matters 2024

Market Size for Other Synthetic Organic Colouring Matters in Turkey

The Turkish synthetic organic colouring matters market shrank sharply to $X in 2022, declining by -16.4% against the previous year. Over the period under review, consumption, however, recorded significant growth. Over the period under review, the market hit record highs at $X in 2021, and then fell sharply in the following year.

Production of Other Synthetic Organic Colouring Matters in Turkey

In value terms, synthetic organic colouring matters production shrank dramatically to $X in 2022 estimated in export price. Overall, production, however, recorded strong growth. The pace of growth was the most pronounced in 2018 when the production volume increased by 94%. Synthetic organic colouring matters production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Other Synthetic Organic Colouring Matters

Exports from Turkey

Synthetic organic colouring matters exports from Turkey totaled X tons in 2022, increasing by 6.2% compared with the year before. In general, exports posted a strong expansion. The pace of growth was the most pronounced in 2019 when exports increased by 34% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, synthetic organic colouring matters exports surged to $X in 2022. Overall, exports showed a resilient increase. The growth pace was the most rapid in 2019 with an increase of 29% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

Uzbekistan (X tons), Russia (X tons) and Egypt (X tons) were the main destinations of synthetic organic colouring matters exports from Turkey, with a combined 31% share of total exports. Iraq, Bangladesh, Iran, Poland, Belgium, Pakistan, South Korea, China, the UK and Turkmenistan lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Korea (with a CAGR of +102.8%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for synthetic organic colouring matters exported from Turkey were Uzbekistan ($X), Russia ($X) and Egypt ($X), with a combined 33% share of total exports. Belgium, Pakistan, Bangladesh, Iran, Poland, Turkmenistan, South Korea, Iraq, China and the UK lagged somewhat behind, together comprising a further 39%.

South Korea, with a CAGR of +84.6%, saw the highest rates of growth with regard to 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

In 2022, the average synthetic organic colouring matters export price amounted to $X per ton, picking up by 11% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Iraq ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Turkmenistan (+10.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Other Synthetic Organic Colouring Matters

Imports into Turkey

In 2022, approx. X tons of other synthetic organic colouring matters were imported into Turkey; which is down by -6.7% against 2021. Over the period under review, total imports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +39.6% against 2013 indices. The most prominent rate of growth was recorded in 2019 with an increase of 19%. Imports peaked at X tons in 2021, and then declined in the following year.

In value terms, synthetic organic colouring matters imports expanded notably to $X in 2022. The total import value increased at an average annual rate of +4.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by 22% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, India (X tons) constituted the largest synthetic organic colouring matters supplier to Turkey, accounting for a 45% share of total imports. Moreover, synthetic organic colouring matters imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. Spain (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India amounted to +7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+4.2% per year) and Spain (+4.6% per year).

In value terms, the largest synthetic organic colouring matters suppliers to Turkey were India ($X), China ($X) and Germany ($X), with a combined 70% share of total imports. South Korea, Spain, Taiwan (Chinese) and Pakistan lagged somewhat behind, together accounting for a further 13%.

Among the main suppliers, Pakistan, with a CAGR of +34.4%, recorded 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

In 2022, the average synthetic organic colouring matters import price amounted to $X per ton, rising by 15% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 22% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+1.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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