Turkey: Sodium Phosphates Market 2024

Sodium Phosphates Market Size in Turkey

The Turkish sodium phosphates market surged to $X in 2021, jumping by 41% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Sodium Phosphates Exports

Exports from Turkey

For the third year in a row, Turkey recorded growth in shipments abroad of phosphates of mono- or di-sodium, which increased by 17% to X tons in 2021. Over the period under review, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2019 with an increase of 173% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, sodium phosphates exports fell to $X in 2021. Overall, exports continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2019 when exports increased by 280%. Over the period under review, the exports attained the maximum at $X in 2020, and then declined in the following year.

Exports by Country

Egypt (X tons) was the main destination for sodium phosphates exports from Turkey, accounting for a 35% share of total exports. Moreover, sodium phosphates exports to Egypt exceeded the volume sent to the second major destination, South Africa (X tons), twofold. Georgia (X tons) ranked third in terms of total exports with a 9.6% share.

From 2012 to 2021, the average annual growth rate of volume to Egypt amounted to +105.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+28.0% per year) and Georgia (+70.0% per year).

In value terms, South Africa ($X), Iran ($X) and Egypt ($X) were the largest markets for sodium phosphates exported from Turkey worldwide, together accounting for 53% of total exports. Iraq, Bangladesh, China, Georgia, Bulgaria and Turkmenistan lagged somewhat behind, together comprising a further 39%.

Bangladesh, with a CAGR of +21,585.5%, recorded the highest growth rate of the value of exports, among 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

The average sodium phosphates export price stood at $X per ton in 2021, dropping by -25.2% against the previous year. Overall, the export price, however, saw a remarkable increase. The pace of growth was the most pronounced in 2015 an increase of 98% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Iran ($X per ton), while the average price for exports to Egypt ($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 Bangladesh (+89.0%), while the prices for the other major destinations experienced more modest paces of growth.

Sodium Phosphates Imports

Imports into Turkey

Sodium phosphates imports into Turkey surged to X tons in 2021, jumping by 29% against the year before. In general, total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +7.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -9.8% against 2019 indices. The pace of growth appeared the most rapid in 2015 when imports increased by 34% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, sodium phosphates imports soared to $X in 2021. Overall, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +8.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +55.5% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Germany (X tons) and France (X tons) were the main suppliers of sodium phosphates imports to Turkey, together accounting for 98% of total imports. India lagged somewhat behind, comprising a further 1.9%.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +124.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and France ($X) appeared to be the largest sodium phosphates suppliers to Turkey, with a combined 96% share of total imports. These countries were followed by India, which accounted for a further 2.5%.

Among the main suppliers, India, with a CAGR of +77.4%, recorded 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

The average sodium phosphates import price stood at $X per ton in 2021, increasing by 12% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of 31% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+7.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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