Turkey - Iron and Steel - Market Analysis, Forecast, Size, Trends And Insights
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View PricingTurkey's Iron and Steel Industry Trends
The iron and steel industry is the backbone of Turkey's modern infrastructure and booming construction sector. In recent years, this industry has showcased significant figures that mirror its importance in the national economy. In 2022, Turkey consumed 12.251 million tons of iron and steel, which is reflective of the country's increasing demand for these essential materials.
Main Areas of Application
The application of iron and steel in Turkey is extensive, aspiring to meet the diverse needs of various industries. Major areas include the construction industry, automotive manufacturing, shipbuilding, and consumer appliances. Notably, the construction sector dominates consumption, wherein the robustness and durability of steel render it a crucial component for building frameworks and infrastructure projects.
The demand for building materials has seen an uptick, especially in the wake of natural disasters like earthquakes. Turkey's seismic activity necessitates construction standards that prioritize safety and resilience, stimulating the need for high-quality steel. This urgency was palpable following the devastating earthquakes that compelled a review of structural integrity across Turkish cities and increased the consumption of steel products suitable for earthquake-resistant constructions.
The Turkish iron and steel market is influenced by a multifaceted set of growth drivers and limitations. Infrastructure projects, urbanization, and the push for more earthquake-resistant buildings fuel market expansion. Conversely, limitations stem from global market volatility, fluctuating raw material costs, and political factors affecting international trade relationships.
Dependency on Imports
Despite having a significant production capacity with 10.85 million tons of iron and steel generated in 2022, Turkey remains somewhat dependent on imports to satisfy its demand. The import volume for 2022 stood at 1.416 million tons, worth a staggering $812.957 million, at an average price of $0.574 per kg. These numbers attest to the weighty role imports play in the Turkish iron and steel supply chain.
The largest suppliers of imported iron and steel to Turkey include Russia, with an import value of $592.41 million, followed by Ukraine ($312.583 million), Brazil ($134.798 million), Germany ($55.514 million), and South Africa ($20.631 million). These countries together form a substantial part of Turkey's import strategy, providing the raw materials and semi-finished products necessary for Turkey's industries.
Conclusion
The Turkish iron and steel industry, characterized by a robust local production and an evident need for imports, continues to thrive in an ever-changing economic landscape. The dynamic interplay between domestic consumption, import dependency, and market forces suggests a complex yet vibrant sector. It is propelled further by the resilient demand for steel in construction, especially post-earthquake reconstruction efforts, and an unswerving commitment to infrastructure development. As the nation rises to the challenge of enhancing structural safety and fueling economic growth, the iron and steel industry remains a pivotal element in Turkey's journey towards progress.
An in-depth analysis, such as the IndexBox market report, would yield a more detailed examination of the trade flows, pricing trends, and market predictions, proving invaluable for stakeholders and market analysts alike.
This report provides an in-depth analysis of the iron and steel market in Turkey. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
Country coverage:
- Turkey
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Turkey
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
