Report Update: May 1, 2024

Turkey - Carboxylic Acid With Alcohol, Phenol, Aldehyde Or Ketone Functions - Market Analysis, Forecast, Size, Trends And Insights

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Carboxylic Acid Price in Turkey - 2023

Carboxylic Acid Price in Turkey (CIF) - 2023

In July 2023, the average carboxylic acid import price amounted to $5,472 per ton, waning by -13% against the previous month. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in February 2023 when the average import price increased by 71% m-o-m. Over the period under review, average import prices hit record highs at $6,957 per ton in October 2022; however, from November 2022 to July 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Italy ($28,082 per ton), while the price for Belgium ($2,219 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by France (+12.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Carboxylic Acid Price in Turkey (FOB) - 2022

The average carboxylic acid export price stood at $3,736 per ton in 2022, jumping by 40% against the previous year. Overall, the export price, however, saw a mild contraction. Over the period under review, the average export prices reached the maximum at $4,230 per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Iran ($11,850 per ton), while the average price for exports to Serbia ($1,982 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+14.9%), while the prices for the other major destinations experienced more modest paces of growth.

Carboxylic Acid Imports in Turkey

In 2022, after three years of growth, there was significant decline in supplies from abroad of carboxylic acid with alcohol, phenol, aldehyde or ketone functions, when their volume decreased by -35.5% to 18K tons. Over the period under review, imports continue to indicate a mild decrease. The growth pace was the most rapid in 2021 when imports increased by 33%. As a result, imports attained the peak of 28K tons, and then declined significantly in the following year.

In value terms, carboxylic acid imports reduced markedly to $77M in 2022. In general, total imports indicated a tangible expansion from 2019 to 2022: its value increased at an average annual rate of +4.2% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +13.2% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 40% against the previous year. As a result, imports attained the peak of $106M, and then contracted notably in the following year.

Import of Carboxylic Acid in Turkey (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	24.0	27.2	34.5	24.4	0.6%
Italy	11.6	13.4	22.4	15.9	11.1%
India	9.5	11.9	21.2	15.0	16.4%
Spain	3.8	4.4	4.7	3.3	-4.6%
South Korea	1.6	1.7	3.9	2.8	20.5%
Switzerland	3.6	2.9	3.6	2.5	-11.4%
France	1.2	1.7	3.2	2.3	24.2%
Taiwan (Chinese)	1.3	1.3	2.9	2.0	15.4%
Germany	2.0	2.2	2.7	1.9	-1.7%
Belgium	1.4	0.7	0.7	0.7	-20.6%
Others	8.0	8.3	6.3	6.0	-9.1%
Total	67.9	75.7	106	76.9	4.2%

Top Suppliers of Carboxylic Acid to Turkey in 2022:

China (9.9K tons)
India (1.8K tons)
Spain (1.5K tons)
France (1.0K tons)
Italy (0.8K tons)
South Korea (0.6K tons)
Taiwan (Chinese) (0.5K tons)
Belgium (0.5K tons)
Switzerland (0.4K tons)
Germany (0.4K tons)

Carboxylic Acid Exports in Turkey

In 2022, after three years of growth, there was significant decline in overseas shipments of carboxylic acid with alcohol, phenol, aldehyde or ketone functions, when their volume decreased by -46.7% to 1.3K tons. Overall, exports, however, continue to indicate resilient growth. The pace of growth was the most pronounced in 2021 with an increase of 135% against the previous year. As a result, the exports attained the peak of 2.4K tons, and then shrank notably in the following year.

In value terms, carboxylic acid exports shrank significantly to $4.8M in 2022. In general, exports, however, continue to indicate significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 152% against the previous year. As a result, the exports attained the peak of $6.5M, and then declined dramatically in the following year.

Export of Carboxylic Acid in Turkey (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Iran	700	583	1,203	1,122	17.0%
Azerbaijan	194	357	413	427	30.1%
Greece	139	145	445	415	44.0%
South Africa	293	272	338	412	12.0%
Iraq	107	196	422	393	54.3%
Vietnam	112	148	306	286	36.7%
Turkmenistan	171	92.9	253	235	11.2%
Serbia	65.4	67.0	195	182	40.7%
China	296	25.4	0.6	176	-15.9%
Malaysia	76.8	53.6	156	145	23.6%
Uzbekistan	19.9	113	125	117	80.5%
Cyprus	14.8	26.0	121	113	96.9%
Romania	30.8	23.9	112	105	50.5%
Others	334	480	2,408	717	29.0%
Total	2,554	2,582	6,497	4,845	23.8%

Top Export Markets for Carboxylic Acid from Turkey in 2022:

South Africa (157.8 tons)
Azerbaijan (140.0 tons)
Iraq (126.9 tons)
Greece (118.1 tons)
Iran (94.6 tons)
Vietnam (94.5 tons)
Serbia (91.7 tons)
China (54.8 tons)
Cyprus (49.6 tons)
Romania (45.7 tons)
Uzbekistan (40.6 tons)
Turkmenistan (39.4 tons)
Malaysia (38.9 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the carboxylic acid 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:

Prodcom 20143475 - Carboxylic acid with alcohol, phenol, aldehyde or ketone functions

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
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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
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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.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023