Turkey: Fuse And Detonator Market 2024

Fuse And Detonator Market Size in Turkey

The Turkish fuse and detonator market skyrocketed to $X in 2021, picking up by 137% against the previous year. In general, consumption enjoyed significant growth. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Fuse And Detonator Production in Turkey

In value terms, fuse and detonator production surged to $X in 2021 estimated in export price. Over the period under review, production enjoyed significant growth. Fuse and detonator production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Fuse And Detonator Exports

Exports from Turkey

In 2021, approx. X tons of safety fuses, detonating fuses and electric detonators were exported from Turkey; rising by 25% against the previous year. Over the period under review, total exports indicated a slight expansion from 2012 to 2021: its volume increased at an average annual rate of +1.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +106.5% against 2018 indices. The most prominent rate of growth was recorded in 2019 when exports increased by 87%. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, fuse and detonator exports skyrocketed to $X in 2021. Overall, exports, however, saw a mild shrinkage. The most prominent rate of growth was recorded in 2019 with an increase of 122% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Georgia (X tons), Liberia (X tons) and Serbia (X tons) were the main destinations of fuse and detonator exports from Turkey, with a combined 53% 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 Liberia (with a CAGR of +602.0%), while the other leaders experienced more modest paces of growth.

In value terms, Georgia ($X), Liberia ($X) and Serbia ($X) were the largest markets for fuse and detonator exported from Turkey worldwide, together comprising 51% of total exports. These countries were followed by Cyprus, Ukraine, Albania, Azerbaijan, Cuba, Bosnia and Herzegovina, Ethiopia and Greece, which together accounted for a further 35%.

Cuba, with a CAGR of +565.3%, recorded the highest rates of growth with regard to 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 fuse and detonator export price stood at $X per ton in 2021, with an increase of 11% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced reduction. The pace of growth was the most pronounced in 2019 when the average export price increased by 19%. The export price peaked at $X per ton in 2012; however, from 2013 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 Cyprus ($X per ton), while the average price for exports to Greece ($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 Cuba (+54.3%), while the prices for the other major destinations experienced more modest paces of growth.

Fuse And Detonator Imports

Imports into Turkey

In 2021, approx. X tons of safety fuses, detonating fuses and electric detonators were imported into Turkey; growing by 11% against the previous year. Overall, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when imports increased by 24% against the previous year. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, fuse and detonator imports skyrocketed to $X in 2021. The total import value increased at an average annual rate of +1.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 when imports increased by 27% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, India (X tons) constituted the largest fuse and detonator supplier to Turkey, with a 39% share of total imports. Moreover, fuse and detonator imports from India exceeded the figures recorded by the second-largest supplier, Bosnia and Herzegovina (X tons), twofold. The Czech Republic (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from India stood at -1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Bosnia and Herzegovina (+9.3% per year) and the Czech Republic (+8.5% per year).

In value terms, the largest fuse and detonator suppliers to Turkey were India ($X), Bosnia and Herzegovina ($X) and the United States ($X), together accounting for 55% of total imports.

The United States, with a CAGR of +26.6%, recorded 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 2021, the average fuse and detonator import price amounted to $X per ton, rising by 9.4% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.2%. The most prominent rate of growth was recorded in 2018 an increase of 11%. Over the period under review, average import prices hit record highs in 2021 and is likely to continue growth in the immediate term.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+31.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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