Turkey: Market for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium 2024

Market Size for Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in Turkey

The Turkish aqueous paint and varnish market contracted to $X in 2021, with a decrease of -10.3% against the previous year. Overall, consumption continues to indicate a pronounced downturn. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium in Turkey

In value terms, aqueous paint and varnish production declined slightly to $X in 2021 estimated in export price. In general, production continues to indicate a noticeable decline. The pace of growth appeared the most rapid in 2016 with an increase of 23% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Exports from Turkey

In 2021, shipments abroad of paints and varnishes dispersed or dissolved in an aqueous medium increased by 113% to X tons, rising for the fifth year in a row after three years of decline. Over the period under review, exports posted a prominent increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, aqueous paint and varnish exports soared to $X in 2021. In general, exports continue to indicate modest growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Iraq (X tons) was the main destination for aqueous paint and varnish exports from Turkey, with a 38% share of total exports. Moreover, aqueous paint and varnish exports to Iraq exceeded the volume sent to the second major destination, Romania (X tons), fourfold. The third position in this ranking was taken by Georgia (X tons), with an 8.1% share.

From 2012 to 2021, the average annual growth rate of volume to Iraq totaled +6.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+8.4% per year) and Georgia (+5.7% per year).

In value terms, Iraq ($X) remains the key foreign market for paints and varnishes dispersed or dissolved in an aqueous medium exports from Turkey, comprising 29% of total exports. The second position in the ranking was held by Romania ($X), with a 7% share of total exports. It was followed by France, with a 6.6% share.

From 2012 to 2021, the average annual growth rate of value to Iraq totaled +2.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Romania (+6.9% per year) and France (+6.6% per year).

Export Prices by Country

The average aqueous paint and varnish export price stood at $X per ton in 2021, shrinking by -2.1% against the previous year. In general, the export price showed a perceptible contraction. The growth pace was the most rapid in 2018 when the average export price increased by 8.9% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was France ($X per ton), while the average price for exports to Turkmenistan ($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 Georgia (-1.1%), while the prices for the other major destinations experienced a decline.

Imports of Paints And Varnishes Dispersed Or Dissolved In An Aqueous Medium

Imports into Turkey

Aqueous paint and varnish imports into Turkey skyrocketed to X tons in 2021, surging by 21% against 2020 figures. The total import volume increased at an average annual rate of +4.0% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, aqueous paint and varnish imports surged to $X in 2021. The total import value increased at an average annual rate of +3.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained 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 aqueous paint and varnish to Turkey, with a 34% share of total imports. Moreover, aqueous paint and varnish imports from Germany exceeded the figures recorded by the second-largest supplier, Spain (X tons), twofold. Italy (X tons) ranked third in terms of total imports with a 13% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+1.5% per year) and Italy (-2.4% per year).

In value terms, Germany ($X) constituted the largest supplier of paints and varnishes dispersed or dissolved in an aqueous medium to Turkey, comprising 37% of total imports. The second position in the ranking was taken by Italy ($X), with a 16% share of total imports. It was followed by Spain, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany amounted to +8.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-1.0% per year) and Spain (+1.0% per year).

Import Prices by Country

In 2021, the average aqueous paint and varnish import price amounted to $X per ton, rising by 6.1% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 12% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Italy ($X per ton), while the price for Cyprus ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the Netherlands (+1.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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