Turkey: Acetone Market 2024

Acetone Market Size in Turkey

In 2022, the Turkish acetone market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Overall, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then dropped rapidly in the following year.

Acetone Production in Turkey

In value terms, acetone production fell to $X in 2022 estimated in export price. Over the period under review, the total production indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2021, and then reduced in the following year.

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Acetone Exports

Exports from Turkey

In 2022, acetone exports from Turkey shrank dramatically to X tons, falling by X% on the year before. In general, exports, however, continue to indicate a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2021, and then dropped rapidly in the following year.

In value terms, acetone exports reduced sharply to $X in 2022. Overall, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2017 with an increase of X%. The exports peaked at $X in 2021, and then fell significantly in the following year.

Exports by Country

Greece (X tons), Bulgaria (X tons) and Israel (X tons) were the main destinations of acetone exports from Turkey, together accounting for X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Greece (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Greece ($X), Bulgaria ($X) and Israel ($X) constituted the largest markets for acetone exported from Turkey worldwide, together accounting for X% of total exports.

In terms of the main countries of destination, Greece, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average acetone export price amounted to $X per ton, which is down by X% against the previous year. In general, the export price saw a deep reduction. The most prominent rate of growth was recorded in 2017 when the average export price increased by X% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Italy ($X per ton) and Israel ($X per ton), while the average price for exports to Azerbaijan ($X per ton) and Bulgaria ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Italy (X%), while the prices for the other major destinations experienced a decline.

Acetone Imports

Imports into Turkey

In 2022, the amount of acetone imported into Turkey fell to X tons, reducing by X% against 2021 figures. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of X tons, and then fell in the following year.

In value terms, acetone imports reduced notably to $X in 2022. In general, imports saw a perceptible slump. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Imports peaked at $X in 2021, and then dropped rapidly in the following year.

Imports by Country

Saudi Arabia (X tons), Belgium (X tons) and Russia (X tons) were the main suppliers of acetone imports to Turkey, together comprising X% of total imports. Spain, the United States, Italy and Germany lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest acetone suppliers to Turkey were Saudi Arabia ($X), Belgium ($X) and Russia ($X), with a combined X% share of total imports. Spain, the United States, Italy and Germany lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, the United States, with a CAGR of X%, saw 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

The average acetone import price stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, the import price showed a perceptible decline. The pace of growth appeared the most rapid in 2017 when the average import price increased by X%. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, 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 Germany ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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