Turkey: Ethylene Oxide Market 2024

Ethylene Oxide Market Size in Turkey

In 2022, the Turkish ethylene oxide market increased by X% to $X, rising for the second consecutive year after two years of decline. Overall, consumption, however, recorded a relatively flat trend pattern. Ethylene oxide consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Ethylene Oxide Production in Turkey

In value terms, ethylene oxide production fell modestly to $X in 2022 estimated in export price. In general, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Ethylene oxide production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Ethylene Oxide Exports

Exports from Turkey

In 2022, approx. X tons of oxirane (ethylene oxide) were exported from Turkey; waning by X% compared with the previous year. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, ethylene oxide exports skyrocketed to $X in 2022. In general, exports, however, posted strong growth. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Azerbaijan (X tons), South Korea (X tons) and Thailand (X tons) were the main destinations of ethylene oxide exports from Turkey, together comprising X% of total exports. Iraq, Russia, the United States, Bangladesh, the Philippines, Jordan and Iran lagged somewhat behind, together accounting for 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 Russia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Thailand ($X), the United States ($X) and Azerbaijan ($X) constituted the largest markets for ethylene oxide exported from Turkey worldwide, with a combined X% share of total exports. South Korea, Russia, Iraq, Bangladesh, the Philippines, Jordan and Iran lagged somewhat behind, together accounting for a further X%.

Among the main countries of destination, Russia, with a CAGR of X%, recorded 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

The average ethylene oxide export price stood at $X per ton in 2022, growing by X% against the previous year. Overall, the export price recorded a strong expansion. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs 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 overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Iraq ($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 the United States (X%), while the prices for the other major destinations experienced more modest paces of growth.

Ethylene Oxide Imports

Imports into Turkey

For the third year in a row, Turkey recorded growth in purchases abroad of oxirane (ethylene oxide), which increased by X% to X tons in 2022. Over the period under review, imports posted a strong expansion. The growth pace was the most rapid in 2015 when imports increased by X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, ethylene oxide imports soared to $X in 2022. In general, imports saw prominent growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Belgium (X tons) was the main ethylene oxide supplier to Turkey, accounting for a X% share of total imports. It was followed by the United States (X tons), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Belgium totaled X%.

In value terms, Belgium ($X) constituted the largest supplier of oxirane (ethylene oxide) to Turkey, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Belgium stood at X%.

Import Prices by Country

The average ethylene oxide import price stood at $X per ton in 2022, surging by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the average import price increased by X% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for the United States totaled $X per ton.

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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