Turkey: Explosives Market 2022

Explosives Market Size in Turkey

In 2021, the Turkish explosives market decreased by -X% to $X for the first time since 2016, thus ending a four-year rising trend. The market value increased at an average annual rate of +X% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Explosives consumption peaked at $X in 2020, and then contracted in the following year.

Explosives Production in Turkey

In value terms, explosives production contracted to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2020, and then reduced in the following year.

Explosives Exports

Exports from Turkey

In 2021, shipments abroad of prepared explosives increased by X% to X tons, rising for the second year in a row after three years of decline. Overall, exports posted a perceptible increase. Over the period under review, the exports reached the peak figure at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, explosives exports soared to $X in 2021. Over the period under review, total exports indicated a mild expansion from 2012 to 2021: its value increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +X% against 2019 indices. 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 reached the maximum at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

Georgia (X tons) was the main destination for explosives exports from Turkey, accounting for a X% share of total exports. Moreover, explosives exports to Georgia exceeded the volume sent to the second major destination, Azerbaijan (X tons), threefold. Liberia (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Georgia amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Azerbaijan (+X% per year) and Liberia (+X% per year).

In value terms, Georgia ($X) remains the key foreign market for explosives exports from Turkey, comprising X% of total exports. The second position in the ranking was taken by Liberia ($X), with a X% share of total exports. It was followed by Albania, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Georgia stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Liberia (+X% per year) and Albania (+X% per year).

Export Prices by Country

In 2021, the average explosives export price amounted to $X per ton, which is down by -X% against the previous year. Overall, the export price recorded a pronounced slump. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 to 2021, the the average export prices remained at a somewhat lower figure.

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

Explosives Imports

Imports into Turkey

In 2021, approx. X tons of prepared explosives were imported into Turkey; growing by X% against 2020. In general, imports saw a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, explosives imports skyrocketed to $X in 2021. Overall, imports recorded a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Serbia (X tons) constituted the largest explosives supplier to Turkey, accounting for a X% share of total imports. Moreover, explosives imports from Serbia exceeded the figures recorded by the second-largest supplier, Poland (X tons), fivefold. The third position in this ranking was held by the United States (X tons), with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Serbia amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+X% per year) and the United States (+X% per year).

In value terms, Serbia ($X) constituted the largest supplier of explosives to Turkey, comprising X% of total imports. The second position in the ranking was taken by Poland ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Serbia amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+X% per year) and the United States (-X% per year).

Import Prices by Country

The average explosives import price stood at $X per ton in 2021, dropping by -X% against the previous year. Overall, the import price, however, recorded prominent growth. The pace of growth appeared the most rapid in 2013 an increase of X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was the United States ($X per ton), while the price for Serbia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Serbia (+X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Market Intelligence Platform

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