Turkey: Market for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Turkey

The Turkish non-aqueous paint and varnish market reduced to $X in 2022, dropping by -10.9% against the previous year. Over the period under review, the total consumption indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +2.0% 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 +9.9% against 2020 indices. Non-aqueous paint and varnish consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium in Turkey

In value terms, non-aqueous paint and varnish production shrank markedly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a resilient increase. The pace of growth appeared the most rapid in 2021 when the production volume increased by 58% against the previous year. Non-aqueous paint and varnish production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Exports from Turkey

In 2022, non-aqueous paint and varnish exports from Turkey surged to X tons, increasing by 23% against the previous year. In general, total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +83.5% against 2016 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, non-aqueous paint and varnish exports soared to $X in 2022. Overall, exports posted strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X tons), Uzbekistan (X tons) and Azerbaijan (X tons) were the main destinations of non-aqueous paint and varnish exports from Turkey, with a combined 33% share of total exports. Iraq, Iran, Georgia, Algeria, Turkmenistan, the United States, Romania, Israel, Kazakhstan and Bulgaria lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +116.5%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) emerged as the key foreign market for paints and varnishes dispersed or dissolved in a non-aqueous medium exports from Turkey, comprising 19% of total exports. The second position in the ranking was held by Iran ($X), with a 7.3% share of total exports. It was followed by Uzbekistan, with a 7.3% share.

From 2012 to 2022, the average annual growth rate of value to Russia stood at +15.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+21.3% per year) and Uzbekistan (+17.2% per year).

Export Prices by Country

The average non-aqueous paint and varnish export price stood at $X per ton in 2022, rising by 17% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. As a result, the export price attained the peak level 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 Iran ($X per ton), while the average price for exports to Iraq ($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 Algeria (+3.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Paints And Varnishes Dispersed Or Dissolved In A Non-Aqueous Medium

Imports into Turkey

For the third consecutive year, Turkey recorded growth in supplies from abroad of paints and varnishes dispersed or dissolved in a non-aqueous medium, which increased by 12% to X tons in 2022. The total import volume increased at an average annual rate of +5.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, non-aqueous paint and varnish imports surged to $X in 2022. In general, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +6.0% 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 +40.7% against 2018 indices. The most prominent rate of growth was recorded in 2021 with an increase of 21%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Italy (X tons), Germany (X tons) and the UK (X tons) were the main suppliers of non-aqueous paint and varnish imports to Turkey, with a combined 52% share of total imports. Croatia, France, Spain, Sweden, the Netherlands, Belgium, Poland, China, Portugal and Greece lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +17.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest non-aqueous paint and varnish suppliers to Turkey were Germany ($X), Italy ($X) and the UK ($X), with a combined 53% share of total imports. France, Spain, the Netherlands, Croatia, Sweden, Poland, Belgium, China, Portugal and Greece lagged somewhat behind, together comprising a further 32%.

Among the main suppliers, Poland, with a CAGR of +22.6%, saw the highest rates of growth with regard to 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 non-aqueous paint and varnish import price amounted to $X per ton, with an increase of 5.7% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 18% against the previous year. Over the period under review, average import prices attained the maximum 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 France ($X per ton), while the price for Croatia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+4.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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