Turkey: Market for Glass Fibres and Glass Fibre Articles 2024

Market Size for Glass Fibres and Glass Fibre Articles in Turkey

The Turkish glass fibre and article market fell to $X in 2022, which is down by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Production of Glass Fibres and Glass Fibre Articles in Turkey

In value terms, glass fibre and article production declined rapidly to $X in 2022 estimated in export price. Overall, production, however, saw prominent growth. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. Glass fibre and article production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Glass Fibres and Glass Fibre Articles

Exports from Turkey

In 2022, after five years of growth, there was significant decline in overseas shipments of glass fibres and glass fibre articles, when their volume decreased by X% to X tons. Overall, total exports indicated pronounced growth from 2012 to 2022: its volume 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, exports increased by X% against 2016 indices. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons, and then plummeted in the following year.

In value terms, glass fibre and article exports reduced to $X in 2022. Over the period under review, total exports indicated a tangible 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, exports increased by X% against 2018 indices. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X, and then reduced in the following year.

Exports by Country

Italy (X tons), Israel (X tons) and Spain (X tons) were the main destinations of glass fibre and article exports from Turkey, together comprising X% of total exports. Romania, Bulgaria, Germany, Hungary, Poland, Egypt, Australia, Greece, France and Thailand lagged somewhat behind, together comprising a further X%.

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

In value terms, Italy ($X), Spain ($X) and Germany ($X) were the largest markets for glass fibre and article exported from Turkey worldwide, together comprising X% of total exports. Israel, Bulgaria, Poland, Hungary, Romania, Egypt, France, Greece, Thailand and Australia lagged somewhat behind, together comprising a further X%.

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

Export Prices by Country

The average glass fibre and article export price stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. Over the period under review, the average export prices reached the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Australia ($X 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 Germany (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Glass Fibres and Glass Fibre Articles

Imports into Turkey

In 2022, overseas purchases of glass fibres and glass fibre articles increased by X% to X tons, rising for the third year in a row after two years of decline. In general, imports continue to indicate a prominent expansion. The pace of growth was the most pronounced in 2021 when imports increased by X%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, glass fibre and article imports expanded significantly to $X in 2022. Over the period under review, imports showed a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

China (X tons), Egypt (X tons) and Bahrain (X tons) were the main suppliers of glass fibre and article imports to Turkey, together comprising X% of total imports.

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

In value terms, China ($X) constituted the largest supplier of glass fibres and glass fibre articles to Turkey, comprising X% of total imports. The second position in the ranking was taken by Egypt ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (X% per year) and Germany (X% per year).

Import Prices by Country

In 2022, the average glass fibre and article import price amounted to $X per ton, increasing by X% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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