Report Update: May 1, 2024

Turkey - Industrial Monocarboxylic Fatty Acids - Market Analysis, Forecast, Size, Trends And Insights

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Price for Industrial Monocarboxylic Fatty Acids in Turkey - 2023

Price for Industrial Monocarboxylic Fatty Acids in Turkey (CIF) - 2023

In September 2023, the average industrial monocarboxylic fatty acids import price amounted to $1,019 per ton, growing by 3% against the previous month. Overall, the import price, however, continues to indicate a slight shrinkage. The most prominent rate of growth was recorded in March 2023 when the average import price increased by 26% m-o-m. The import price peaked at $1,381 per ton in April 2023; however, from May 2023 to September 2023, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was Germany ($1,833 per ton), while the price for Iraq ($193 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was attained by Iraq (+0.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Price for Industrial Monocarboxylic Fatty Acids in Turkey (FOB) - 2023

In September 2023, the average industrial monocarboxylic fatty acids export price amounted to $894 per ton, with an increase of 13% against the previous month. Over the period under review, the export price, however, recorded a noticeable contraction. The export price peaked at $1,236 per ton in October 2022; however, from November 2022 to September 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In September 2023, the country with the highest price was Italy ($946 per ton), while the average price for exports to Bulgaria ($554 per ton) was amongst the lowest.

From September 2022 to September 2023, the most notable rate of growth in terms of prices was recorded for supplies to Israel (-3.3%), while the prices for the other major destinations experienced a decline.

Imports of Industrial Monocarboxylic Fatty Acids in Turkey

In 2022, approx. 99K tons of industrial monocarboxylic fatty acids were imported into Turkey; rising by 40% on the previous year's figure. Overall, imports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2021 with an increase of 201% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, industrial monocarboxylic fatty acids imports skyrocketed to $126M in 2022. In general, imports showed significant growth. The pace of growth appeared the most rapid in 2021 when imports increased by 258%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Import of Industrial Monocarboxylic Fatty Acids in Turkey (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Indonesia	1.5	2.7	3.5	46.3	213.7%
Malaysia	8.9	11.3	55.1	39.8	64.8%
Iran	0.1	0.3	7.8	17.5	459.3%
Belgium	1.8	2.8	3.6	7.2	58.7%
Bulgaria	2.0	1.3	5.0	4.7	33.0%
Russia	0.1	N/A	N/A	1.9	166.8%
Iraq	0.2	0.2	0.2	0.5	35.7%
Others	4.5	4.6	7.6	8.6	24.1%
Total	19.0	23.2	82.8	126	87.9%

Top Suppliers of Industrial Monocarboxylic Fatty Acids to Turkey in 2022:

Indonesia (35.6K tons)
Malaysia (22.6K tons)
Iran (22.0K tons)
Bulgaria (6.0K tons)
Belgium (3.1K tons)
Iraq (2.9K tons)
Russia (1.9K tons)

Exports of Industrial Monocarboxylic Fatty Acids in Turkey

For the fourth consecutive year, Turkey recorded growth in overseas shipments of industrial monocarboxylic fatty acids, which increased by 13% to 52K tons in 2022. Over the period under review, exports saw significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 242%. The exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, industrial monocarboxylic fatty acids exports skyrocketed to $71M in 2022. In general, exports recorded significant growth. The growth pace was the most rapid in 2021 when exports increased by 489% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the near future.

Export of Industrial Monocarboxylic Fatty Acids in Turkey (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Italy	0.1	N/A	27.8	30.6	573.9%
Israel	1.4	2.7	8.3	13.3	111.8%
Indonesia	N/A	0.8	1.6	8.7	229.8%
Netherlands	N/A	0.7	5.7	5.5	180.3%
United Kingdom	0.3	N/A	0.8	2.6	105.4%
Russia	N/A	N/A	N/A	2.2	0%
United Arab Emirates	0.5	1.0	0.8	1.7	50.4%
Others	1.0	3.3	4.7	6.6	87.6%
Total	3.4	8.4	49.7	71.1	175.5%

Top Export Markets for Industrial Monocarboxylic Fatty Acids from Turkey in 2022:

Italy (20.7K tons)
Israel (10.4K tons)
Indonesia (5.8K tons)
Netherlands (4.8K tons)
United Kingdom (2.5K tons)
United Arab Emirates (1.7K tons)
Russia (1.1K tons)

This report provides an in-depth analysis of the market for industrial monocarboxylic fatty acids 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 20143195 - Industrial monocarboxylic fatty acids distilled (excluding stearic, oleic tall oil)
Prodcom 20143197 - Industrial monocarboxylic fatty acids (excluding stearic, oleic, t all oil, distilled)

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.

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