Turkey: Reclaimed Rubber Market 2024

Reclaimed Rubber Market Size in Turkey

The Turkish reclaimed rubber market expanded markedly to $X in 2021, with an increase of 8.9% against the previous year. In general, consumption, however, showed a mild downturn. As a result, consumption reached the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Reclaimed Rubber Production in Turkey

In value terms, reclaimed rubber production shrank slightly to $X in 2021 estimated in export price. Over the period under review, production recorded a mild shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of 23%. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Reclaimed Rubber Exports

Exports from Turkey

In 2021, shipments abroad of reclaimed rubber was finally on the rise to reach X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports posted a prominent increase. The growth pace was the most rapid in 2013 when exports increased by 176%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, reclaimed rubber exports skyrocketed to $X in 2021. Overall, exports recorded a resilient increase. The pace of growth appeared the most rapid in 2013 with an increase of 313%. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Greece (X tons), Algeria (X tons) and Bulgaria (X tons) were the main destinations of reclaimed rubber exports from Turkey, with a combined 78% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Algeria (with a CAGR of +119.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Greece ($X), Russia ($X) and Algeria ($X) were the largest markets for reclaimed rubber exported from Turkey worldwide, together accounting for 62% of total exports. These countries were followed by Bulgaria, Romania, Germany, Georgia, Canada, Italy and Saudi Arabia, which together accounted for a further 23%.

Among the main countries of destination, Bulgaria, with a CAGR of +102.9%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average reclaimed rubber export price stood at $X per ton in 2021, surging by 17% against the previous year. In general, the export price enjoyed a modest expansion. The pace of growth was the most pronounced in 2018 when the average export price increased by 156% against the previous year. 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 export markets. In 2021, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Algeria ($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 Russia (+20.8%), while the prices for the other major destinations experienced more modest paces of growth.

Reclaimed Rubber Imports

Imports into Turkey

In 2021, purchases abroad of reclaimed rubber increased by 119% to X tons for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports hit record highs at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, reclaimed rubber imports soared to $X in 2021. Overall, imports, however, showed a pronounced decline. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

India (X tons), Egypt (X tons) and Iran (X tons) were the main suppliers of reclaimed rubber imports to Turkey, with a combined 80% share of total imports. Italy, China, Denmark and Qatar lagged somewhat behind, together comprising a further 15%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Denmark (with a CAGR of +63.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X) constituted the largest supplier of reclaimed rubber to Turkey, comprising 66% of total imports. The second position in the ranking was held by Egypt ($X), with a 14% share of total imports. It was followed by Iran, with a 7% share.

From 2012 to 2021, the average annual growth rate of value from India was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+8.4% per year) and Iran (+9.9% per year).

Import Prices by Country

The average reclaimed rubber import price stood at $X per ton in 2021, with a decrease of -2.9% against the previous year. In general, the import price continues to indicate a perceptible shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 4.6% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Qatar (+10.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :