Turkey: Market for Processed Petroleum Oils and Distillates 2024

Market Size for Processed Petroleum Oils and Distillates in Turkey

The Turkish market for processed petroleum oils and distillates skyrocketed to $X in 2022, with an increase of X% against the previous year. In general, the total consumption indicated temperate growth 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, consumption increased by X% against 2020 indices. Processed petroleum oils and distillates consumption peaked in 2022 and is likely to continue growth in the near future.

Production of Processed Petroleum Oils and Distillates in Turkey

In value terms, processed petroleum oils and distillates production contracted to $X in 2022 estimated in export price. In general, the total production indicated a mild 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 decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Exports of Processed Petroleum Oils and Distillates

Exports from Turkey

For the fourth consecutive year, Turkey recorded growth in shipments abroad of processed petroleum oils and distillates, which increased by X% to X tons in 2022. Overall, exports saw a resilient increase. The most prominent rate of growth was recorded in 2015 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, processed petroleum oils and distillates exports surged to $X in 2022. Over the period under review, exports enjoyed a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

The Netherlands (X tons), Lebanon (X tons) and South Africa (X tons) were the main destinations of processed petroleum oils and distillates exports from Turkey, with a combined X% share of total exports.

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

In value terms, the largest markets for processed petroleum oils and distillates exported from Turkey were the Netherlands ($X), Lebanon ($X) and South Africa ($X), together comprising X% of total exports.

Lebanon, with a CAGR of X%, saw the highest growth rate of the value of exports, among 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 export price for processed petroleum oils and distillates stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the export price showed a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Singapore ($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 Cyprus (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Processed Petroleum Oils and Distillates

Imports into Turkey

In 2022, purchases abroad of processed petroleum oils and distillates increased by X% to X tons, rising for the second year in a row after three years of decline. Over the period under review, imports showed a prominent expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, processed petroleum oils and distillates imports soared to $X in 2022. In general, imports, however, showed a noticeable contraction. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, India (X tons) constituted the largest processed petroleum oils and distillates supplier to Turkey, with a X% share of total imports. Moreover, processed petroleum oils and distillates imports from India exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. Greece (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Greece (X% per year).

In value terms, India ($X) constituted the largest supplier of processed petroleum oils and distillates to Turkey, comprising X% of total imports. The second position in the ranking was taken by Italy ($X), with a X% share of total imports. It was followed by Greece, with a X% share.

From 2012 to 2022, the average annual growth rate of value from India totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (X% per year) and Greece (X% per year).

Import Prices by Country

In 2022, the average import price for processed petroleum oils and distillates amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the import price recorded a deep reduction. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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 Spain ($X per ton), while the price for Kazakhstan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :