Turkey: Market for Rosin And Resin Acids And Derivatives 2024

Market Size for Rosin And Resin Acids And Derivatives in Turkey

In 2022, the Turkish rosin and resin acids market increased by X% to $X, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Rosin and resin acids consumption peaked in 2022 and is likely to see gradual growth in the near future.

Production of Rosin And Resin Acids And Derivatives in Turkey

In value terms, rosin and resin acids production declined sharply to $X in 2022 estimated in export price. Overall, production, however, showed a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of X%. Rosin and resin acids production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Rosin And Resin Acids And Derivatives

Exports from Turkey

In 2022, shipments abroad of rosin and resin acids and derivatives increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports enjoyed a resilient expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, rosin and resin acids exports soared to $X in 2022. Overall, exports recorded a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X tons), Pakistan (X tons) and Greece (X tons) were the main destinations of rosin and resin acids exports from Turkey, together accounting for X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Pakistan ($X) and Iran ($X) appeared to be the largest markets for rosin and resin acids exported from Turkey worldwide, together accounting for X% of total exports.

Russia, with a CAGR of X%, 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 rosin and resin acids export price stood at $X per ton in 2022, surging by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 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 the United Arab Emirates ($X per ton), while the average price for exports to Greece ($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 Egypt (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Rosin And Resin Acids And Derivatives

Imports into Turkey

In 2022, after three years of growth, there was decline in overseas purchases of rosin and resin acids and derivatives, when their volume decreased by X% to X tons. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2021, and then contracted slightly in the following year.

In value terms, rosin and resin acids imports skyrocketed to $X in 2022. Overall, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The growth pace was the most rapid in 2021 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Brazil (X tons), Portugal (X tons) and Greece (X tons) were the main suppliers of rosin and resin acids imports to Turkey, with a combined X% share of total imports. Sweden, the Netherlands, Indonesia, Mexico, Finland, China and Vietnam lagged somewhat behind, together comprising a further X%.

From 2012 to 2022, the biggest increases were recorded for Finland (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest rosin and resin acids suppliers to Turkey were Brazil ($X), Portugal ($X) and Greece ($X), with a combined X% share of total imports. The Netherlands, Sweden, Mexico, Indonesia, China, Finland and Vietnam lagged somewhat behind, together comprising a further X%.

Finland, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average rosin and resin acids import price amounted to $X per ton, jumping by X% against the previous year. In general, import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, rosin and resin acids import price increased by X% against 2020 indices. Over the period under review, average import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Mexico ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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