Turkey: Polishes For Coachwork Market 2024

Polishes For Coachwork Market Size in Turkey

The Turkish polishes for coachwork market fell to $X in 2022, reducing by -6.4% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Polishes For Coachwork Production in Turkey

In value terms, polishes for coachwork production shrank sharply to $X in 2022 estimated in export price. Overall, production, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2019 with an increase of 100%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Polishes For Coachwork Exports

Exports from Turkey

After three years of growth, overseas shipments of polishes for coachwork decreased by -3.8% to X tons in 2022. In general, total exports indicated a mild increase from 2012 to 2022: its volume increased at an average annual rate of +1.7% 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 +50.2% against 2018 indices. The growth pace was the most rapid in 2020 with an increase of 22%. Over the period under review, the exports reached the maximum at X tons in 2021, and then declined modestly in the following year.

In value terms, polishes for coachwork exports declined to $X in 2022. Overall, exports, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2014 when exports increased by 49%. The exports peaked at $X in 2021, and then contracted in the following year.

Exports by Country

Germany (X tons), Russia (X tons) and Iraq (X tons) were the main destinations of polishes for coachwork exports from Turkey, with a combined 38% share of total exports. Poland, the UK, Libya, Chile, Lithuania, Israel, Tajikistan, Croatia, Uzbekistan and Azerbaijan lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Chile (with a CAGR of +651.6%), while the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) remains the key foreign market for polishes for coachwork exports from Turkey, comprising 31% of total exports. The second position in the ranking was taken by Poland ($X), with a 14% share of total exports. It was followed by Lithuania, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany amounted to +38.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Poland (+24.9% per year) and Lithuania (+54.2% per year).

Export Prices by Country

The average polishes for coachwork export price stood at $X per ton in 2022, falling by -9% against the previous year. Over the period under review, the export price, however, saw a resilient expansion. The pace of growth was the most pronounced in 2019 when the average export price increased by 36% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lithuania ($X per ton), while the average price for exports to Chile ($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 Lithuania (+22.4%), while the prices for the other major destinations experienced more modest paces of growth.

Polishes For Coachwork Imports

Imports into Turkey

In 2022, supplies from abroad of polishes for coachwork decreased by -2.6% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 when imports increased by 42% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then dropped slightly in the following year.

In value terms, polishes for coachwork imports shrank modestly to $X in 2022. In general, total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -2.2% against 2020 indices. The growth pace was the most rapid in 2020 with an increase of 72% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The UK (X tons), Germany (X tons) and the Netherlands (X tons) were the main suppliers of polishes for coachwork imports to Turkey, together accounting for 72% of total imports. The United States, Spain, Italy and South Korea lagged somewhat behind, together accounting for a further 17%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +31.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest polishes for coachwork suppliers to Turkey were Germany ($X), the UK ($X) and the United States ($X), together accounting for 72% of total imports. The Netherlands, South Korea, Italy and Spain lagged somewhat behind, together comprising a further 14%.

Among the main suppliers, Spain, with a CAGR of +22.5%, recorded 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

The average polishes for coachwork import price stood at $X per ton in 2022, picking up by 2.6% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the average import price increased by 21%. Over the period under review, average import prices attained the peak figure in 2022 and is likely to see steady growth in years to come.

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 South Korea ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+16.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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