Turkey: Triethanolamine Market 2024

Triethanolamine Market Size in Turkey

The Turkish triethanolamine market stood at $X in 2021, almost unchanged from 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 downturn. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Triethanolamine Exports

Exports from Turkey

In 2021, shipments abroad of triethanolamine and its salts decreased by -20.6% to X tons, falling for the eighth year in a row after two years of growth. Overall, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2013 when exports increased by 72%. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports remained at a lower figure.

In value terms, triethanolamine exports dropped markedly to $X in 2021. In general, exports saw a significant decrease. The most prominent rate of growth was recorded in 2013 when exports increased by 39%. As a result, the exports reached the peak of $X. From 2014 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Romania (X tons), Azerbaijan (X tons) and Bulgaria (X tons) were the main destinations of triethanolamine exports from Turkey, together comprising 78% 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 Romania (with a CAGR of +6.1%), while the other leaders experienced a decline.

In value terms, the largest markets for triethanolamine exported from Turkey were Azerbaijan ($X), Romania ($X) and Free Zones ($X), with a combined 79% share of total exports.

Romania, with a CAGR of +1.6%, recorded 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 a decline.

Export Prices by Country

The average triethanolamine export price stood at $X per ton in 2021, picking up by 1.5% against the previous year. Over the period under review, the export price, however, saw a drastic downturn. The growth pace was the most rapid in 2018 when the average export price increased by 18% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Greece ($X per ton), while the average price for exports to Bulgaria ($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 Egypt (+18.0%), while the prices for the other major destinations experienced more modest paces of growth.

Triethanolamine Imports

Imports into Turkey

Triethanolamine imports into Turkey totaled X tons in 2021, approximately equating the year before. Overall, imports, however, saw a perceptible downturn. The pace of growth appeared the most rapid in 2020 with an increase of 80%. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, triethanolamine imports stood at $X in 2021. Over the period under review, imports, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2018 when imports increased by 61%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Saudi Arabia (X tons) constituted the largest triethanolamine supplier to Turkey, accounting for a 58% share of total imports. Moreover, triethanolamine imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, Belgium (X tons), fivefold. The third position in this ranking was taken by the United States (X tons), with a 9.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Saudi Arabia totaled +61.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+7.0% per year) and the United States (-15.9% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of triethanolamine and its salts to Turkey, comprising 51% of total imports. The second position in the ranking was taken by Germany ($X), with a 16% share of total imports. It was followed by Belgium, with a 13% share.

From 2012 to 2021, the average annual growth rate of value from Saudi Arabia totaled +51.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-6.6% per year) and Belgium (+7.8% per year).

Import Prices by Country

In 2021, the average triethanolamine import price amounted to $X per ton, approximately equating the previous year. Over the period under review, the import price, however, continues to indicate a perceptible decrease. The pace of growth was the most pronounced in 2018 when the average import price increased by 13% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for Taiwan (Chinese) ($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 (+5.0%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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