Turkey: Potassium Hydroxide Market 2024

Potassium Hydroxide Market Size in Turkey

The Turkish potassium hydroxide market reached $X in 2022, remaining stable against the previous year. In general, consumption continues to indicate a relatively flat trend pattern. Potassium hydroxide consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Potassium Hydroxide Production in Turkey

In value terms, potassium hydroxide production totaled $X in 2022 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 when the production volume increased by 70% against the previous year. Potassium hydroxide production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Potassium Hydroxide Exports

Exports from Turkey

In 2022, potassium hydroxide exports from Turkey skyrocketed to X tons, growing by 425% compared with 2021 figures. Overall, exports saw a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, potassium hydroxide exports soared to $X in 2022. Over the period under review, exports showed a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Greece (X tons) was the main destination for potassium hydroxide exports from Turkey, accounting for a 47% share of total exports. Moreover, potassium hydroxide exports to Greece exceeded the volume sent to the second major destination, Croatia (X tons), threefold. The third position in this ranking was taken by the Netherlands (X tons), with a 7.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Greece stood at +63.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Croatia (0.0% per year) and the Netherlands (0.0% per year).

In value terms, the largest markets for potassium hydroxide exported from Turkey were Greece ($X), Croatia ($X) and the Netherlands ($X), with a combined 59% share of total exports. Finland, Israel, Serbia, the Czech Republic, Iran, Moldova, Hungary, Iraq, Austria and Ukraine lagged somewhat behind, together accounting for a further 34%.

Israel, with a CAGR of +61,430.2%, saw the highest growth rate of the value of exports, in terms of 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 potassium hydroxide export price stood at $X per ton in 2022, shrinking by -17.9% against the previous year. Overall, the export price continues to indicate a noticeable decline. The pace of growth appeared the most rapid in 2019 when the average export price increased by 79% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, 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 Finland ($X per ton), while the average price for exports to Greece ($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 Iraq (+4.9%), while the prices for the other major destinations experienced mixed trend patterns.

Potassium Hydroxide Imports

Imports into Turkey

In 2022, after three years of growth, there was significant decline in supplies from abroad of potassium hydroxide (caustic potash), when their volume decreased by -13.6% to X tons. Over the period under review, imports, however, showed measured growth. The growth pace was the most rapid in 2021 when imports increased by 78%. As a result, imports attained the peak of X tons, and then reduced in the following year.

In value terms, potassium hydroxide imports surged to $X in 2022. Overall, imports, however, enjoyed a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, South Korea (X tons) constituted the largest supplier of potassium hydroxide to Turkey, with a 76% share of total imports. Moreover, potassium hydroxide imports from South Korea exceeded the figures recorded by the second-largest supplier, Russia (X tons), fivefold. China (X tons) ranked third in terms of total imports with a 5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from South Korea totaled +21.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+69.6% per year) and China (+4.5% per year).

In value terms, South Korea ($X) constituted the largest supplier of potassium hydroxide (caustic potash) to Turkey, comprising 76% of total imports. The second position in the ranking was held by Russia ($X), with a 17% share of total imports. It was followed by China, with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from South Korea amounted to +24.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+85.4% per year) and China (+7.6% per year).

Import Prices by Country

The average potassium hydroxide import price stood at $X per ton in 2022, surging by 111% against the previous year. Overall, import price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. 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 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+17.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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