Turkey: Tyre Cord Fabric Market 2024

Tyre Cord Fabric Market Size in Turkey

In 2021, the Turkish tyre cord fabric market decreased by -11.9% to $X, falling for the second consecutive year after two years of growth. In general, the total consumption indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -14.1% against 2019 indices. Tyre cord fabric consumption peaked at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Tyre Cord Fabric Production in Turkey

In value terms, tyre cord fabric production rose notably to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.5% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2018 when the production volume increased by 15% against the previous year. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Tyre Cord Fabric Exports

Exports from Turkey

After five years of decline, overseas shipments of tyre cord fabric of high tenacity yarn increased by 129% to X tons in 2021. Over the period under review, total exports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of +5.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, tyre cord fabric exports surged to $X in 2021. Overall, total exports indicated temperate growth from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine-year period. 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

Serbia (X tons), Poland (X tons) and Italy (X tons) were the main destinations of tyre cord fabric exports from Turkey, together comprising 34% of total exports. These countries were followed by Hungary, Germany, the United States, France, Romania, the Czech Republic, Spain, Finland, Luxembourg and the UK, which together accounted for a further 46%.

From 2012 to 2021, the biggest increases were recorded for Luxembourg (with a CAGR of +101.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tyre cord fabric exported from Turkey were Serbia ($X), the United States ($X) and Poland ($X), with a combined 31% share of total exports. Germany, Luxembourg, Italy, Hungary, Finland, the UK, the Czech Republic, France, Romania and Spain lagged somewhat behind, together comprising a further 46%.

Luxembourg, with a CAGR of +93.7%, saw 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

In 2021, the average tyre cord fabric export price amounted to $X per ton, rising by 12% against the previous year. In general, the export price, however, saw a mild descent. The export price peaked at $X per ton in 2013; however, from 2014 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 the United States ($X per ton), while the average price for exports to Spain ($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 the United States (+1.1%), while the prices for the other major destinations experienced a decline.

Tyre Cord Fabric Imports

Imports into Turkey

In 2021, overseas purchases of tyre cord fabric of high tenacity yarn were finally on the rise to reach X tons after two years of decline. Over the period under review, imports posted a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, tyre cord fabric imports skyrocketed to $X in 2021. Overall, imports posted a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Belarus (X tons) and Vietnam (X tons) were the main suppliers of tyre cord fabric imports to Turkey, together accounting for 79% of total imports.

From 2012 to 2021, the biggest increases were recorded for Belarus (with a CAGR of +335.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest tyre cord fabric suppliers to Turkey were China ($X), Belarus ($X) and Romania ($X), together accounting for 76% of total imports.

Among the main suppliers, Belarus, with a CAGR of +363.1%, 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 tyre cord fabric import price amounted to $X per ton, surging by 17% against the previous year. Overall, the import price, however, continues to indicate a slight setback. Over the period under review, average import prices attained the peak figure at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belarus (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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