Report Update Nov 1, 2024

Turkey - Rare Earth Metals - Market Analysis, Forecast, Size, Trends and Insights

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Turkey: Rare Earth Metal Market 2024

Rare Earth Metal Market Size in Turkey

The Turkish rare earth metal market shrank to $X in 2021, waning by -14.6% 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). Overall, consumption, however, continues to indicate a buoyant increase. Over the period under review, the market reached the maximum level at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Rare Earth Metal Exports

Exports from Turkey

In 2021, rare earth metal exports from Turkey soared to X kg, growing by 33,400% against the previous year's figure. In general, exports, however, saw a sharp reduction. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

In value terms, rare earth metal exports soared to $X in 2021. Overall, exports, however, saw a slight contraction. The exports peaked at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Slovakia (X kg) was the main destination for rare earth metal exports from Turkey, with a 98% share of total exports. It was followed by Russia (X kg), with a 0.6% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Slovakia was relatively modest.

In value terms, Slovakia ($X) emerged as the key foreign market for rare earth metals exports from Turkey, comprising 58% of total exports. The second position in the ranking was held by Russia ($X), with a 3.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Slovakia was relatively modest.

Export Prices by Country

The average rare earth metal export price stood at $X per ton in 2021, falling by -94.4% against the previous year. Overall, the export price, however, showed significant growth. The growth pace was the most rapid in 2015 when the average export price increased by 1,323% against the previous year. The export price peaked at $X per ton in 2020, and then contracted dramatically in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Slovakia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Iraq (+299.5%), while the prices for the other major destinations experienced more modest paces of growth.

Rare Earth Metal Imports

Imports into Turkey

In 2021, approx. X tons of rare earth metals were imported into Turkey; declining by -4% against the previous year. Over the period under review, imports saw a slight contraction. The pace of growth appeared the most rapid in 2020 when imports increased by 170% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

In value terms, rare earth metal imports shrank dramatically to $X in 2021. In general, imports faced a deep reduction. The most prominent rate of growth was recorded in 2020 when imports increased by 113%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) was the main supplier of rare earth metal to Turkey, accounting for a approx. 100% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from China totaled +6.4%.

In value terms, China ($X) constituted the largest supplier of rare earth metals to Turkey.

From 2012 to 2021, the average annual growth rate of value from China stood at -9.6%.

Import Prices by Country

In 2021, the average rare earth metal import price amounted to $X per ton, reducing by -16.2% against the previous year. Over the period under review, the import price recorded a drastic downturn. The pace of growth appeared the most rapid in 2016 an increase of 12%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for China.

From 2012 to 2021, the rate of growth in terms of prices for Austria amounted to -6.6% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for rare earth metals in the world?

China constituted the country with the largest volume of rare earth metal consumption, comprising approx. 49% of total volume. Moreover, rare earth metal consumption in China exceeded the figures recorded by the second-largest consumer, the United States, fourfold. The third position in this ranking was occupied by Malaysia, with a 12% share.

What are the largest producers of rare earth metals in the world?

The country with the largest volume of rare earth metal production was China, accounting for 59% of total volume. Moreover, rare earth metal production in China exceeded the figures recorded by the second-largest producer, the United States, fivefold. The third position in this ranking was occupied by Myanmar, with a 12% share.

What are the leading suppliers of rare earth metals to Turkey?

In value terms, Belgium constituted the largest supplier of rare earth metal to Turkey, comprising 78% of total imports. The second position in the ranking was occupied by China, with a 14% share of total imports.

What is the average export price for rare earth metals in Turkey?

In 2021, the average rare earth metal export price amounted to $96,642 per ton, which is down by -35.6% against the previous year.

What is the average import price for rare earth metals in Turkey?

In 2021, the average rare earth metal import price amounted to $40,582 per ton, growing by 178% against the previous year.

This report provides an in-depth analysis of the rare earth metal market in Turkey. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Country coverage:

Turkey

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Turkey
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023