Turkey: Unvulcanised Rubber Market 2024

Unvulcanised Rubber Market Size in Turkey

In 2021, the Turkish unvulcanised rubber market decreased by -42.9% to $X, falling for the third consecutive year after two years of growth. Overall, consumption recorded a perceptible slump. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Unvulcanised Rubber Production in Turkey

In value terms, unvulcanised rubber production surged to $X in 2021 estimated in export price. Overall, the total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Unvulcanised Rubber Exports

Exports from Turkey

Unvulcanised rubber exports from Turkey fell slightly to X tons in 2021, remaining constant against the previous year. Overall, total exports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +5.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +12.9% against 2019 indices. The pace of growth appeared the most rapid in 2016 with an increase of 17% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, unvulcanised rubber exports declined to $X in 2021. The total export value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when exports increased by 28%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Belarus (X tons), Mexico (X tons) and Italy (X tons) were the main destinations of unvulcanised rubber exports from Turkey, with a combined 63% share of total exports. These countries were followed by Sweden, Hungary, China, Poland and Romania, which together accounted for a further 28%.

From 2012 to 2021, the biggest increases were recorded for Hungary (with a CAGR of +189.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for unvulcanised rubber exported from Turkey were Mexico ($X), Belarus ($X) and Italy ($X), together accounting for 60% of total exports. Sweden, Hungary, China, Poland and Romania lagged somewhat behind, together comprising a further 33%.

Hungary, with a CAGR of +162.9%, saw the highest rates of growth with regard to the value of exports, in terms of 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 unvulcanised rubber export price stood at $X per ton in 2021, declining by -8% against the previous year. Overall, the export price showed a noticeable shrinkage. The growth pace was the most rapid in 2013 when the average export price increased by 19% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to China ($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 Romania (+4.2%), while the prices for the other major destinations experienced mixed trend patterns.

Unvulcanised Rubber Imports

Imports into Turkey

After two years of decline, purchases abroad of unvulcanised rubber increased by 7.5% to X tons in 2021. The total import volume increased at an average annual rate of +3.7% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when imports increased by 39% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, unvulcanised rubber imports surged to $X in 2021. The total import value increased at an average annual rate of +1.4% over the period from 2012 to 2021; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2013 with an increase of 37%. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United States (X tons), Italy (X tons) and Germany (X tons) were the main suppliers of unvulcanised rubber imports to Turkey, with a combined 48% share of total imports. Spain, France, Romania and Slovakia lagged somewhat behind, together accounting for a further 32%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Spain (with a CAGR of +21.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of unvulcanised rubber to Turkey, comprising 25% of total imports. The second position in the ranking was held by Romania ($X), with a 12% share of total imports. It was followed by Germany, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Italy stood at -2.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Romania (+7.6% per year) and Germany (+0.0% per year).

Import Prices by Country

The average unvulcanised rubber import price stood at $X per ton in 2021, growing by 10% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced contraction. The pace of growth appeared the most rapid in 2019 when the average import price increased by 16% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 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 Italy ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+2.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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