Turkey: Market for Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium 2024

Market Size for Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium in Turkey

The Turkish market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium dropped to $X in 2022, with a decrease of -13% against the previous year. Overall, the total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +2.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +14.3% against 2020 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium in Turkey

In value terms, production of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium reduced rapidly to $X in 2022 estimated in export price. Overall, production, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by 60%. Over the period under review, production of reached the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

Exports from Turkey

For the fourth year in a row, Turkey recorded growth in overseas shipments of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium, which increased by 7.8% to X tons in 2022. In general, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when exports increased by 12% against the previous year. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium totaled $X in 2022. Overall, exports, however, recorded a deep setback. Over the period under review, the exports of attained the maximum at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Iraq (X tons) was the main destination for exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium from Turkey, with a 36% share of total exports. Moreover, exports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium to Iraq exceeded the volume sent to the second major destination, Russia (X tons), fourfold. The third position in this ranking was taken by Georgia (X tons), with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Iraq was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+13.9% per year) and Georgia (-1.5% per year).

In value terms, Iraq ($X) remains the key foreign market for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium exports from Turkey, comprising 31% of total exports. The second position in the ranking was taken by Russia ($X), with an 8.7% share of total exports. It was followed by Georgia, with a 7.3% share.

From 2012 to 2022, the average annual growth rate of value to Iraq stood at -3.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+13.0% per year) and Georgia (-1.1% per year).

Export Prices by Country

In 2022, the average export price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium amounted to $X per ton, rising by 6.5% against the previous year. Overall, the export price, however, recorded a noticeable reduction. The most prominent rate of growth was recorded in 2018 an increase of 8.7% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Iraq ($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 Georgia (+0.4%), while the prices for the other major destinations experienced a decline.

Imports of Paints And Varnishes, Based On Acrylic Or Vinyl Polymers, Aqueous Medium

Imports into Turkey

In 2022, purchases abroad of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium increased by 27% to X tons, rising for the third year in a row after three years of decline. Over the period under review, total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +6.1% 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 +84.6% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium surged to $X in 2022. Overall, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.3% 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 +69.7% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Germany (X tons) constituted the largest supplier of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium to Turkey, accounting for a 50% share of total imports. Moreover, imports of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium from Germany exceeded the figures recorded by the second-largest supplier, Cyprus (X tons), threefold. The Netherlands (X tons) ranked third in terms of total imports with a 7.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Germany totaled +6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Cyprus (+89.8% per year) and the Netherlands (-3.1% per year).

In value terms, Germany ($X) constituted the largest supplier of paints and varnishes, based on acrylic or vinyl polymers, aqueous medium to Turkey, comprising 49% of total imports. The second position in the ranking was held by Italy ($X), with an 11% share of total imports. It was followed by the Netherlands, with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+3.7% per year) and the Netherlands (+1.1% per year).

Import Prices by Country

The average import price for paints and varnishes, based on acrylic or vinyl polymers, aqueous medium stood at $X per ton in 2022, rising by 3.5% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the average import price increased by 19%. Over the period under review, average import prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

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 Japan ($X per ton), while the price for Cyprus ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+4.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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