Turkey: Market for Polyethylene in Primary Forms 2024

Market Size for Polyethylene in Primary Forms in Turkey

In 2021, the Turkish polyethylene in primary forms market increased by 39% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +5.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Polyethylene in Primary Forms in Turkey

In value terms, polyethylene in primary forms production soared to $X in 2021 estimated in export price. Over the period under review, production continues to indicate significant growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by 530%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Exports of Polyethylene in Primary Forms

Exports from Turkey

In 2021, approx. X tons of polyethylene in primary forms were exported from Turkey; with an increase of 117% on 2020. Overall, exports showed measured growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, polyethylene in primary forms exports surged to $X in 2021. In general, exports recorded a tangible expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Italy (X tons), Spain (X tons) and Libya (X tons) were the main destinations of polyethylene in primary forms exports from Turkey, together comprising 30% of total exports. These countries were followed by Bulgaria, Greece, Algeria, North Macedonia, Israel, Belgium, Serbia, Ukraine, the UK and China, which together accounted for a further 45%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of +130.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polyethylene in primary forms exported from Turkey were Italy ($X), Spain ($X) and Bulgaria ($X), with a combined 32% share of total exports. Greece, Libya, Algeria, North Macedonia, Belgium, Israel, the UK, Ukraine, Serbia and China lagged somewhat behind, together comprising a further 43%.

China, with a CAGR of +110.0%, 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

In 2021, the average polyethylene in primary forms export price amounted to $X per ton, growing by 50% against the previous year. Over the period under review, the export price, however, continues to indicate a mild decrease. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to China ($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 the UK (+1.0%), while the prices for the other major destinations experienced a decline.

Imports of Polyethylene in Primary Forms

Imports into Turkey

In 2021, overseas purchases of polyethylene in primary forms increased by 11% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +5.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of 21%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, polyethylene in primary forms imports surged to $X in 2021. Overall, total imports indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +3.5% 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 +74.5% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Saudi Arabia (X tons), Iran (X tons) and the United States (X tons) were the main suppliers of polyethylene in primary forms imports to Turkey, together comprising 56% of total imports. Russia, Uzbekistan, Qatar, South Korea, Belgium, Germany, the Netherlands, Spain, Italy and the United Arab Emirates lagged somewhat behind, together comprising a further 28%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Uzbekistan (with a CAGR of +146.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest polyethylene in primary forms suppliers to Turkey were Saudi Arabia ($X), Iran ($X) and the United States ($X), with a combined 54% share of total imports. Belgium, Russia, South Korea, Qatar, Uzbekistan, Germany, the Netherlands, Spain, the United Arab Emirates and Italy lagged somewhat behind, together comprising a further 29%.

In terms of the main suppliers, Uzbekistan, with a CAGR of +143.4%, saw 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 polyethylene in primary forms import price stood at $X per ton in 2021, jumping by 51% against the previous year. Overall, the import price, however, saw a mild descent. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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 Germany ($X per ton), while the price for Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+0.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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