Turkey: Glass Fiber Market 2024

Glass Fiber Market Size in Turkey

In 2021, the Turkish glass fiber market decreased by -4.6% to $X, falling for the eighth year in a row after two years of growth. In general, consumption continues to indicate a noticeable descent. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Glass Fiber Production in Turkey

In value terms, glass fiber production stood at $X in 2021 estimated in export price. In general, production, however, saw a pronounced descent. The most prominent rate of growth was recorded in 2013 with an increase of 8.6% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth remained at a somewhat lower figure.

Glass Fiber Exports

Exports from Turkey

In 2021, the amount of voiles, webs, mats and other articles of glass fibers exported from Turkey soared to X tons, picking up by 26% on the year before. Overall, total exports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +89.8% against 2012 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, glass fiber exports surged to $X in 2021. Over the period under review, total exports indicated a prominent expansion from 2012 to 2021: its value increased at an average annual rate of +6.0% 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 attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Israel (X tons), Romania (X tons) and Bulgaria (X tons) were the main destinations of glass fiber exports from Turkey, together comprising 39% of total exports. Egypt, Thailand, Australia, Poland, Greece, Serbia, Iraq, Russia, Azerbaijan and Georgia lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +148.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for glass fiber exported from Turkey were Israel ($X), Bulgaria ($X) and Romania ($X), with a combined 29% share of total exports. Egypt, Poland, Thailand, Australia, Iraq, Greece, Serbia, Azerbaijan, Russia and Georgia lagged somewhat behind, together accounting for a further 29%.

Thailand, with a CAGR of +117.3%, recorded the highest growth rate of 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

In 2021, the average glass fiber export price amounted to $X per ton, increasing by 10% against the previous year. In general, the export price, however, continues to indicate 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 failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Poland ($X per ton), while the average price for exports to Romania ($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 Serbia (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.

Glass Fiber Imports

Imports into Turkey

After two years of decline, purchases abroad of voiles, webs, mats and other articles of glass fibers increased by 6.3% to X tons in 2021. In general, imports continue to indicate a strong expansion. The growth pace was the most rapid in 2014 when imports increased by 36% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, glass fiber imports rose notably to $X in 2021. Over the period under review, imports continue to indicate a strong increase. The growth pace was the most rapid in 2014 when imports increased by 37%. Over the period under review, imports hit record highs in 2021 and are likely to continue growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of glass fiber to Turkey, accounting for a 32% share of total imports. Moreover, glass fiber imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +15.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+17.3% per year) and Germany (+7.4% per year).

In value terms, China ($X), Germany ($X) and France ($X) appeared to be the largest glass fiber suppliers to Turkey, together comprising 51% of total imports. These countries were followed by the Netherlands, the United States, Italy, Egypt, Poland, Iran, Belgium, the Czech Republic, Brazil and Thailand, which together accounted for a further 33%.

In terms of the main suppliers, Egypt, with a CAGR of +194.9%, recorded 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 glass fiber import price amounted to $X per ton, with an increase of 7.4% against the previous year. In general, the import price, however, showed a slight setback. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+7.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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