Turkey: Market for Polyethylene Glycols and Polyethers in Primary Forms 2024

Market Size for Polyethylene Glycols and Polyethers in Primary Forms in Turkey

The Turkish polyethylene glycol and polyether market skyrocketed to $X in 2021, growing by 69% 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). In general, the total consumption indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +7.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +93.4% against 2018 indices. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Polyethylene Glycols and Polyethers in Primary Forms

Exports from Turkey

In 2021, polyethylene glycol and polyether exports from Turkey totaled X tons, surging by 6.1% against 2020. Over the period under review, exports recorded a measured expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 154%. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, polyethylene glycol and polyether exports expanded rapidly to $X in 2021. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2019 when exports increased by 77% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Romania (X tons), Iran (X tons) and Iraq (X tons) were the main destinations of polyethylene glycol and polyether exports from Turkey, together comprising 46% of total exports. These countries were followed by Egypt, Azerbaijan, Morocco, Afghanistan, Mexico, the Czech Republic, Albania, Poland, Jordan and Uzbekistan, which together accounted for a further 41%.

From 2012 to 2021, the biggest increases were recorded for Mexico (with a CAGR of +589.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polyethylene glycol and polyether exported from Turkey were Iran ($X), Romania ($X) and Egypt ($X), with a combined 45% share of total exports. Iraq, Morocco, Azerbaijan, Afghanistan, the Czech Republic, Albania, Poland, Jordan, Uzbekistan and Mexico lagged somewhat behind, together comprising a further 40%.

Mexico, with a CAGR of +374.8%, saw 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 polyethylene glycol and polyether export price stood at $X per ton in 2021, approximately mirroring the previous year. In general, the export price, however, recorded a perceptible downturn. The pace of growth was the most pronounced in 2017 when the average export price increased by 20%. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Czech Republic ($X per ton), while the average price for exports to Mexico ($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 Albania (+0.3%), while the prices for the other major destinations experienced a decline.

Imports of Polyethylene Glycols and Polyethers in Primary Forms

Imports into Turkey

For the third year in a row, Turkey recorded growth in overseas purchases of polyethylene glycols and polyethers in primary forms, which increased by 22% to X tons in 2021. Overall, total imports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +6.7% 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 increased by +57.4% against 2018 indices. The growth pace was the most rapid in 2019 when imports increased by 23%. Over the period under review, imports attained the maximum in 2021 and are expected to retain growth in years to come.

In value terms, polyethylene glycol and polyether imports soared to $X in 2021. Over the period under review, imports enjoyed a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), the Netherlands (X tons) and Saudi Arabia (X tons) were the main suppliers of polyethylene glycol and polyether imports to Turkey, together comprising 62% of total imports. These countries were followed by South Korea, Germany, Singapore, Vietnam, Spain, Belgium, Romania, Italy and France, which together accounted for a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Vietnam (with a CAGR of +482.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest polyethylene glycol and polyether suppliers to Turkey were China ($X), the Netherlands ($X) and Saudi Arabia ($X), together accounting for 57% of total imports. These countries were followed by South Korea, Germany, Vietnam, Singapore, Spain, Belgium, Romania, Italy and France, which together accounted for a further 39%.

Vietnam, with a CAGR of +651.0%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average polyethylene glycol and polyether import price stood at $X per ton in 2021, jumping by 69% against the previous year. Overall, import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. 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 2021, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+29.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :