Turkey: Market for Synthetic Organic Tanning Substances 2024

Market Size for Synthetic Organic Tanning Substances in Turkey

The Turkish synthetic organic tanning substances market surged to $X in 2021, rising by 36% 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, saw a deep contraction. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2021, consumption stood at a somewhat lower figure.

Exports of Synthetic Organic Tanning Substances

Exports from Turkey

In 2021, the amount of synthetic organic tanning substances exported from Turkey skyrocketed to X tons, growing by 49% on the year before. In general, exports showed a prominent expansion. The most prominent rate of growth was recorded in 2015 with an increase of 88% against the previous year. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

In value terms, synthetic organic tanning substances exports surged to $X in 2021. Over the period under review, total exports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +9.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Italy (X tons), China (X tons) and Iran (X tons) were the main destinations of synthetic organic tanning substances exports from Turkey, together comprising 49% of total exports.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +61.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), China ($X) and Uzbekistan ($X) constituted the largest markets for synthetic organic tanning substances exported from Turkey worldwide, together accounting for 44% of total exports.

China, with a CAGR of +60.3%, saw the highest rates of growth with regard to 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 synthetic organic tanning substances 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, saw a mild reduction. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Iraq ($X per ton), while the average price for exports to China ($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 Free Zones (+20.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Synthetic Organic Tanning Substances

Imports into Turkey

In 2021, the amount of synthetic organic tanning substances imported into Turkey soared to X tons, growing by 34% on the previous year's figure. Overall, imports, however, showed a deep slump. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, synthetic organic tanning substances imports soared to $X in 2021. In general, imports, however, saw a deep downturn. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Italy (X tons) constituted the largest synthetic organic tanning substances supplier to Turkey, accounting for a 40% share of total imports. Moreover, synthetic organic tanning substances imports from Italy exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. France (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Italy totaled -2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-3.2% per year) and France (+5.8% per year).

In value terms, Italy ($X) constituted the largest supplier of synthetic organic tanning substances to Turkey, comprising 42% of total imports. The second position in the ranking was held by Germany ($X), with a 13% share of total imports. It was followed by France, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy totaled -1.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-5.0% per year) and France (+4.8% per year).

Import Prices by Country

The average synthetic organic tanning substances import price stood at $X per ton in 2021, increasing by 7.9% against the previous year. Over the period under review, import price indicated a measured expansion from 2012 to 2021: its price increased at an average annual rate of +2.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, synthetic organic tanning substances import price increased by +9.4% against 2019 indices. The growth pace was the most rapid in 2017 when the average import price increased by 54% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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