Turkey: Market for Caustic Soda in Aqueous Solution (Soda Lye) 2024

Market Size for Caustic Soda in Aqueous Solution (Soda Lye) in Turkey

The Turkish market for caustic soda in aqueous solution (soda lye) contracted to $X in 2021, with a decrease of -13.9% 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). In general, consumption showed a pronounced descent. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Exports of Caustic Soda in Aqueous Solution (Soda Lye)

Exports from Turkey

For the fourth year in a row, Turkey recorded growth in shipments abroad of caustic soda in aqueous solution (soda lye), which increased by 43% to X tons in 2021. Overall, exports saw prominent growth. The growth pace was the most rapid in 2019 with an increase of 70% against the previous year. Over the period under review, the exports of hit record highs in 2021 and are likely to see gradual growth in the immediate term.

In value terms, exports of caustic soda in aqueous solution (soda lye) skyrocketed to $X in 2021. In general, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 86% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Ukraine (X tons) was the main destination for exports of caustic soda in aqueous solution (soda lye) from Turkey, with a 41% share of total exports. Moreover, exports of caustic soda in aqueous solution (soda lye) to Ukraine exceeded the volume sent to the second major destination, Greece (X tons), threefold. The third position in this ranking was taken by Trinidad and Tobago (X tons), with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to Ukraine totaled +20.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (+13.6% per year) and Trinidad and Tobago (0.0% per year).

In value terms, the largest markets for caustic soda in aqueous solution (soda lye) exported from Turkey were Ukraine ($X), Panama ($X) and Israel ($X), together comprising 60% of total exports.

Panama, with a CAGR of +1,596.7%, recorded the highest growth rate of 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 export price for caustic soda in aqueous solution (soda lye) stood at $X per ton in 2021, which is down by -8.9% against the previous year. Over the period under review, the export price recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2017 when the average export price increased by 55%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Panama ($X per ton), while the average price for exports to Ukraine ($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 Israel (+4.7%), while the prices for the other major destinations experienced a decline.

Imports of Caustic Soda in Aqueous Solution (Soda Lye)

Imports into Turkey

In 2021, overseas purchases of caustic soda in aqueous solution (soda lye) decreased by -15.9% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, total imports indicated modest growth from 2012 to 2021: its volume increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +87.5% against 2018 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 73%. Over the period under review, imports of hit record highs at X tons in 2020, and then declined markedly in the following year.

In value terms, imports of caustic soda in aqueous solution (soda lye) declined to $X in 2021. In general, imports continue to indicate a noticeable shrinkage. The pace of growth was the most pronounced in 2019 with an increase of 44% against the previous year. Over the period under review, imports of attained the maximum at $X in 2017; however, from 2018 to 2021, imports failed to regain momentum.

Imports by Country

Egypt (X tons), France (X tons) and Romania (X tons) were the main suppliers of imports of caustic soda in aqueous solution (soda lye) to Turkey, together comprising 67% of total imports. These countries were followed by Russia, Iran, Belgium, Saudi Arabia, Ukraine, Germany, the Netherlands and the UK, which together accounted for a further 33%.

From 2012 to 2021, the biggest increases were recorded for Iran (with a CAGR of +11.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X), Romania ($X) and France ($X) constituted the largest caustic soda in aqueous solution (soda lye) suppliers to Turkey, with a combined 70% share of total imports.

In terms of the main suppliers, France, with a CAGR of +3.1%, saw the highest growth rate of the value of imports, 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 import price for caustic soda in aqueous solution (soda lye) amounted to $X per ton, picking up by 12% against the previous year. In general, the import price, however, recorded a deep setback. The most prominent rate of growth was recorded in 2017 when the average import price increased by 63% against the previous year. As a result, import price attained the peak level of $X per ton. From 2018 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+28.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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