Turkey: Phosphinates And Phosphonates Market 2024

Phosphinates And Phosphonates Market Size in Turkey

After two years of decline, the Turkish phosphinates and phosphonates market increased by 3.8% to $X in 2022. The market value increased at an average annual rate of +2.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Phosphinates and phosphonates consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Phosphinates And Phosphonates Production in Turkey

In value terms, phosphinates and phosphonates production amounted to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the production volume increased by 32%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Phosphinates And Phosphonates Exports

Exports from Turkey

In 2022, after two years of growth, there was decline in overseas shipments of phosphinates (hypophosphites) and phosphonates (phosphites), when their volume decreased by -3.1% to X tons. Overall, exports showed a perceptible curtailment. The growth pace was the most rapid in 2020 when exports increased by 133%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, phosphinates and phosphonates exports rose remarkably to $X in 2022. Over the period under review, exports recorded a noticeable contraction. The pace of growth appeared the most rapid in 2020 when exports increased by 129%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Germany (X tons), Iran (X tons) and Russia (X tons) were the main destinations of phosphinates and phosphonates exports from Turkey, together accounting for 51% of total exports. Qatar, Egypt, Iraq, Libya, Kazakhstan, France, Morocco, Oman, Azerbaijan and Bangladesh 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 Kazakhstan (with a CAGR of +226.2%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for phosphinates and phosphonates exported from Turkey were Germany ($X), Russia ($X) and Iran ($X), with a combined 57% share of total exports. Egypt, Kazakhstan, Libya, France, Morocco, Azerbaijan, Qatar, Bangladesh, Iraq and Oman lagged somewhat behind, together accounting for a further 32%.

Among the main countries of destination, Kazakhstan, with a CAGR of +306.3%, saw the highest growth rate of the value of exports, 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 phosphinates and phosphonates export price amounted to $X per ton, jumping by 16% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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 Russia ($X per ton), while the average price for exports to Iraq ($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 Libya (+83.7%), while the prices for the other major destinations experienced more modest paces of growth.

Phosphinates And Phosphonates Imports

Imports into Turkey

In 2022, the amount of phosphinates (hypophosphites) and phosphonates (phosphites) imported into Turkey surged to X tons, growing by 15% compared with 2021 figures. Over the period under review, imports recorded a measured increase. The growth pace was the most rapid in 2017 when imports increased by 214% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the immediate term.

In value terms, phosphinates and phosphonates imports soared to $X in 2022. In general, imports enjoyed prominent growth. The pace of growth appeared the most rapid in 2017 when imports increased by 285%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) constituted the largest phosphinates and phosphonates supplier to Turkey, accounting for a 84% share of total imports. Moreover, phosphinates and phosphonates imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. Saudi Arabia (X tons) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +27.7%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+11.1% per year) and Saudi Arabia (-4.0% per year).

In value terms, China ($X) constituted the largest supplier of phosphinates (hypophosphites) and phosphonates (phosphites) to Turkey, comprising 92% of total imports. The second position in the ranking was taken by India ($X), with a 4% share of total imports. It was followed by Saudi Arabia, with a 2% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +37.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+10.8% per year) and Saudi Arabia (+5.3% per year).

Import Prices by Country

The average phosphinates and phosphonates import price stood at $X per ton in 2022, growing by 72% against the previous year. Overall, the import price posted buoyant growth. As a result, import price reached the peak level 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 China ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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