Turkey: Plant-Growth Regulators Market 2024

Plant-Growth Regulators Market Size in Turkey

In 2022, the Turkish plant-growth regulators market increased by 13% to $X, rising for the third consecutive year after two years of decline. Overall, consumption recorded notable growth. Plant-growth regulators consumption peaked at $X in 2017; however, from 2018 to 2022, consumption stood at a somewhat lower figure.

Plant-Growth Regulators Production in Turkey

In value terms, plant-growth regulators production shrank slightly to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2017 when the production volume increased by 112%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Plant-Growth Regulators Exports

Exports from Turkey

In 2022, shipments abroad of plant-growth regulators increased by 28% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports recorded a prominent expansion. The pace of growth was the most pronounced in 2019 with an increase of 109% against the previous year. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, plant-growth regulators exports surged to $X in 2022. Overall, exports posted a buoyant expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 151% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Turkmenistan (X tons), Azerbaijan (X tons) and Sudan (X tons) were the main destinations of plant-growth regulators exports from Turkey, with a combined 45% share of total exports. Syrian Arab Republic, Algeria, Kazakhstan, Ukraine, Georgia, Uzbekistan, Egypt, Cyprus, Iran and Israel lagged somewhat behind, together comprising a further 44%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ukraine (with a CAGR of +180.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for plant-growth regulators exported from Turkey were Azerbaijan ($X), Turkmenistan ($X) and Sudan ($X), together comprising 46% of total exports. Syrian Arab Republic, Algeria, Kazakhstan, Iran, Georgia, Uzbekistan, Ukraine, Cyprus, Egypt and Israel lagged somewhat behind, together accounting for a further 39%.

Among the main countries of destination, Ukraine, with a CAGR of +143.6%, recorded 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

The average plant-growth regulators export price stood at $X per ton in 2022, rising by 9.7% against the previous year. Overall, export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, plant-growth regulators export price decreased by -1.5% against 2019 indices. The pace of growth was the most pronounced in 2017 when the average export price increased by 25% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Iran ($X per ton), while the average price for exports to Ukraine ($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 Iran (+13.7%), while the prices for the other major destinations experienced more modest paces of growth.

Plant-Growth Regulators Imports

Imports into Turkey

In 2022, the amount of plant-growth regulators imported into Turkey surged to X tons, with an increase of 30% on 2021 figures. The total import volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; however, 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.

In value terms, plant-growth regulators imports surged to $X in 2022. The total import value increased at an average annual rate of +3.3% 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.

Imports by Country

France (X tons), Belgium (X tons) and India (X tons) were the main suppliers of plant-growth regulators imports to Turkey, together accounting for 59% of total imports. Israel, Germany, Hungary, Austria, China and the United States lagged somewhat behind, together comprising a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +156.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and Israel ($X) appeared to be the largest plant-growth regulators suppliers to Turkey, with a combined 56% share of total imports. India, Belgium, Hungary, the United States, China and Austria lagged somewhat behind, together comprising a further 37%.

In terms of the main suppliers, Austria, with a CAGR of +141.0%, saw the highest growth rate of 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 plant-growth regulators import price amounted to $X per ton, growing by 2.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.5%. The pace of growth was the most pronounced in 2015 when the average import price increased by 21% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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 the United States ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform