Turkey: Wood Tool Market 2024

Wood Tool Market Size in Turkey

In 2021, the Turkish wood tool market decreased by -6.5% to $X, falling for the second year in a row after eight years of growth. Overall, consumption, however, recorded a relatively flat trend pattern. Wood tool consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Wood Tool Production in Turkey

In value terms, wood tool production shrank modestly to $X in 2021 estimated in export price. In general, production enjoyed a remarkable increase. The growth pace was the most rapid in 2014 with an increase of 104%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Wood Tool Exports

Exports from Turkey

Wood tool exports from Turkey surged to X tons in 2021, growing by 36% against the year before. Overall, exports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 71%. Over the period under review, the exports reached the maximum in 2021 and are likely to continue growth in years to come.

In value terms, wood tool exports skyrocketed to $X in 2021. In general, exports saw significant growth. The pace of growth was the most pronounced in 2019 with an increase of 55%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Iraq (X tons), Iran (X tons) and Israel (X tons) were the main destinations of wood tool exports from Turkey, with a combined 68% share of total exports. These countries were followed by Morocco, Libya, Tunisia, Italy, Cyprus, Russia, Azerbaijan and France, which together accounted for a further 25%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Morocco (with a CAGR of +177.9%), while the other leaders experienced more modest paces of growth.

In value terms, Iraq ($X), Morocco ($X) and Israel ($X) were the largest markets for wood tool exported from Turkey worldwide, with a combined 59% share of total exports.

Morocco, with a CAGR of +161.8%, 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 wood tool export price stood at $X per ton in 2021, rising by 12% against the previous year. In general, the export price, however, continues to indicate a deep reduction. The most prominent rate of growth was recorded in 2015 an increase of 21%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 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, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Iran ($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 Libya (+0.7%), while the prices for the other major destinations experienced mixed trend patterns.

Wood Tool Imports

Imports into Turkey

In 2021, wood tool imports into Turkey declined notably to X tons, dropping by -49.7% on the previous year's figure. Over the period under review, imports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2015 when imports increased by 48% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, wood tool imports contracted sharply to $X in 2021. Overall, imports showed a drastic downturn. The most prominent rate of growth was recorded in 2013 with an increase of 32%. Over the period under review, imports reached the peak figure at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of wood tool to Turkey, accounting for a 67% share of total imports. Moreover, wood tool imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), fourfold. Poland (X tons) ranked third in terms of total imports with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to -8.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-9.2% per year) and Poland (+0.2% per year).

In value terms, Poland ($X), China ($X) and Vietnam ($X) appeared to be the largest wood tool suppliers to Turkey, together accounting for 89% of total imports. Madagascar, Ukraine and Bosnia and Herzegovina lagged somewhat behind, together comprising a further 3.7%.

Madagascar, with a CAGR of +13.3%, 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

The average wood tool import price stood at $X per ton in 2021, picking up by 67% against the previous year. In general, import price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 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, amid the top importers, the country with the highest price was Poland ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Madagascar (+18.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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