Turkey: Market for Butanols (Excluding Butan-1-Ol (N-Butyl Alcohol)) 2024

Market Size for Butanols (Excluding Butan-1-Ol (N-Butyl Alcohol)) in Turkey

After two years of decline, the Turkish market for butanols (excluding butan-1-ol (n-butyl alcohol)) increased by 42% to $X in 2021. In general, the total consumption indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Butanols (excluding butan-1-ol (n-butyl alcohol)) consumption peaked in 2021 and is likely to see gradual growth in the near future.

Production of Butanols (Excluding Butan-1-Ol (N-Butyl Alcohol)) in Turkey

In value terms, butanols (excluding butan-1-ol (n-butyl alcohol)) production fell modestly to $X in 2021 estimated in export price. Overall, production, however, showed a slight curtailment. The pace of growth was the most pronounced in 2014 when the production volume increased by 217%. Over the period under review, production hit record highs at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Exports of Butanols (Excluding Butan-1-Ol (N-Butyl Alcohol))

Exports from Turkey

In 2021, the amount of butanols (excluding butan-1-ol (n-butyl alcohol)) exported from Turkey skyrocketed to X tons, jumping by 3,111% on 2020. Over the period under review, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, butanols (excluding butan-1-ol (n-butyl alcohol)) exports surged to $X in 2021. Overall, exports saw significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

China (X tons) was the main destination for butanols (excluding butan-1-ol (n-butyl alcohol)) exports from Turkey, accounting for a 58% share of total exports. Moreover, butanols (excluding butan-1-ol (n-butyl alcohol)) exports to China exceeded the volume sent to the second major destination, India (X tons), threefold. Russia (X tons) ranked third in terms of total exports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+45.9% per year) and Russia (+490.5% per year).

In value terms, China ($X) emerged as the key foreign market for butanols (excluding butan-1-ol (n-butyl alcohol)) exports from Turkey, comprising 59% of total exports. The second position in the ranking was held by India ($X), with a 14% share of total exports. It was followed by Russia, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to China was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+48.8% per year) and Russia (+395.6% per year).

Export Prices by Country

In 2021, the average export price for butanols (excluding butan-1-ol (n-butyl alcohol)) amounted to $X per ton, growing by 20% against the previous year. In general, the export price, however, saw a deep reduction. The most prominent rate of growth was recorded in 2020 when the average export price increased by 37% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Iran ($X per ton), while the average price for exports to India ($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 Lebanon (+9.2%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Butanols (Excluding Butan-1-Ol (N-Butyl Alcohol))

Imports into Turkey

In 2021, imports of butanols (excluding butan-1-ol (n-butyl alcohol)) into Turkey surged to X tons, picking up by 95% on the previous year's figure. Over the period under review, imports continue to indicate a prominent increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, butanols (excluding butan-1-ol (n-butyl alcohol)) imports skyrocketed to $X in 2021. Overall, imports showed a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Russia (X tons) constituted the largest supplier of butanols (excluding butan-1-ol (n-butyl alcohol)) to Turkey, accounting for a 83% share of total imports. Moreover, butanols (excluding butan-1-ol (n-butyl alcohol)) imports from Russia exceeded the figures recorded by the second-largest supplier, Germany (X tons), fivefold. Poland (X tons) ranked third in terms of total imports with a 1.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Russia totaled +17.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+16.0% per year) and Poland (-6.6% per year).

In value terms, Russia ($X) constituted the largest supplier of butanols (excluding butan-1-ol (n-butyl alcohol)) to Turkey, comprising 78% of total imports. The second position in the ranking was taken by Germany ($X), with a 19% share of total imports. It was followed by Poland, with a 2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Russia totaled +13.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+14.9% per year) and Poland (-7.2% per year).

Import Prices by Country

In 2021, the average import price for butanols (excluding butan-1-ol (n-butyl alcohol)) amounted to $X per ton, surging by 51% against the previous year. Overall, the import price, however, recorded a perceptible downturn. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 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 Romania ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Romania (+0.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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