Turkey: Market for Zinc Ores And Concentrates 2024

Market Size for Zinc Ores And Concentrates in Turkey

After two years of growth, the Turkish zinc ores and concentrates market decreased by -51.8% to $X in 2021. In general, consumption showed a abrupt downturn. Zinc ores and concentrates consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Production of Zinc Ores And Concentrates in Turkey

In value terms, zinc ores and concentrates production fell slightly to $X in 2021 estimated in export price. In general, the total production indicated a buoyant expansion from 2012 to 2021: its value 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, production increased by +90.4% against 2012 indices. The pace of growth appeared the most rapid in 2014 with an increase of 9%. Zinc ores and concentrates production peaked at $X in 2020, and then dropped slightly in the following year.

Exports of Zinc Ores And Concentrates

Exports from Turkey

In 2021, shipments abroad of zinc ores and concentrates was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports enjoyed strong growth. The most prominent rate of growth was recorded in 2017 when exports increased by 85% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, zinc ores and concentrates exports surged to $X in 2021. In general, exports saw strong growth. The pace of growth was the most pronounced in 2017 when exports increased by 106%. Over the period under review, the exports attained the maximum in 2021 and are likely to continue growth in the immediate term.

Exports by Country

Iran (X tons) was the main destination for zinc ores and concentrates exports from Turkey, with a 58% share of total exports. Moreover, zinc ores and concentrates exports to Iran exceeded the volume sent to the second major destination, Belgium (X tons), threefold. Spain (X tons) ranked third in terms of total exports with a 6.1% share.

From 2012 to 2021, the average annual growth rate of volume to Iran totaled +55.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+7.3% per year) and Spain (+28.4% per year).

In value terms, Belgium ($X) remains the key foreign market for zinc ores and concentrates exports from Turkey, comprising 43% of total exports. The second position in the ranking was taken by Iran ($X), with a 14% share of total exports. It was followed by Spain, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Belgium stood at +12.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iran (+55.5% per year) and Spain (+37.5% per year).

Export Prices by Country

In 2021, the average zinc ores and concentrates export price amounted to $X per ton, rising by 25% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +1.8%. Over the period under review, the average export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Finland ($X per ton), while the average price for exports to Iran ($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 China (+11.9%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Zinc Ores And Concentrates

Imports into Turkey

Zinc ores and concentrates imports into Turkey surged to X tons in 2021, rising by 245% against 2020. Overall, imports enjoyed significant growth. The pace of growth was the most pronounced in 2013 when imports increased by 2,583% against the previous year. Over the period under review, imports attained the maximum in 2021 and are likely to see steady growth in the near future.

In value terms, zinc ores and concentrates imports soared to $X in 2021. In general, imports posted a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 1,613% against the previous year. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

Imports by Country

Serbia (X tons), North Macedonia (X tons) and Zambia (X tons) were the main suppliers of zinc ores and concentrates imports to Turkey, with a combined 77% share of total imports.

From 2012 to 2021, the biggest increases were in North Macedonia (with a CAGR of +11,834.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest zinc ores and concentrates suppliers to Turkey were Serbia ($X), Zambia ($X) and Morocco ($X), with a combined 61% share of total imports. North Macedonia, Poland, Croatia and Albania lagged somewhat behind, together comprising a further 32%.

North Macedonia, with a CAGR of +17,458.9%, saw the highest growth rate of 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

In 2021, the average zinc ores and concentrates import price amounted to $X per ton, declining by -25.6% against the previous year. Overall, the import price continues to indicate a precipitous shrinkage. The growth pace was the most rapid in 2016 when the average import price increased by 66% against the previous year. The import price peaked 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, the country with the highest price was Morocco ($X per ton), while the price for Serbia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by North Macedonia (+46.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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