Turkey: Prepared Binders Market 2024

Prepared Binders Market Size in Turkey

The Turkish prepared binders market rose modestly to $X in 2021, with an increase of 4.7% against the previous year. Over the period under review, consumption, however, recorded a buoyant expansion. Prepared binders consumption peaked in 2021 and is likely to see steady growth in the immediate term.

Prepared Binders Production in Turkey

In value terms, prepared binders production rose to $X in 2021 estimated in export price. In general, production, however, posted resilient growth. The growth pace was the most rapid in 2014 with an increase of 60% against the previous year. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Prepared Binders Exports

Exports from Turkey

In 2021, overseas shipments of prepared binders for foundry moulds or cores increased by 161% to X tons, rising for the second year in a row after three years of decline. In general, exports saw a buoyant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 201%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, prepared binders exports skyrocketed to $X in 2021. Over the period under review, exports showed a resilient increase. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Bangladesh (X tons), the United Arab Emirates (X tons) and Iraq (X tons) were the main destinations of prepared binders exports from Turkey, with a combined 55% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bangladesh (with a CAGR of +297.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for prepared binders exported from Turkey were the United Arab Emirates ($X), Iran ($X) and Bangladesh ($X), with a combined 63% share of total exports.

Bangladesh, with a CAGR of +284.0%, recorded the highest rates of growth with regard to 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 prepared binders export price stood at $X per ton in 2021, which is down by -7% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 48% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 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, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Egypt ($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 Azerbaijan (+6.2%), while the prices for the other major destinations experienced more modest paces of growth.

Prepared Binders Imports

Imports into Turkey

After three years of decline, purchases abroad of prepared binders for foundry moulds or cores increased by 193% to X tons in 2021. Overall, imports continue to indicate a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, prepared binders imports soared to $X in 2021. Over the period under review, imports continue to indicate buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Germany (X tons) constituted the largest supplier of prepared binders to Turkey, accounting for a 46% share of total imports. Moreover, prepared binders imports from Germany exceeded the figures recorded by the second-largest supplier, China (X tons), twofold. The third position in this ranking was held by India (X tons), with a 17% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Germany amounted to +19.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+104.5% per year) and India (+23.8% per year).

In value terms, Germany ($X) constituted the largest supplier of prepared binders for foundry moulds or cores to Turkey, comprising 61% of total imports. The second position in the ranking was held by China ($X), with a 16% share of total imports. It was followed by Austria, with a 7.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Germany totaled +20.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+100.5% per year) and Austria (-2.6% per year).

Import Prices by Country

The average prepared binders import price stood at $X per ton in 2021, surging by 24% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when the average import price increased by 34% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Belgium ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+4.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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