Turkey: Market for Plastics in Primary Forms 2024

Market Size for Plastics in Primary Forms in Turkey

The Turkish plastics in primary forms market stood at $X in 2023, standing approx. at the previous year. Overall, the total consumption indicated a buoyant expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.

Production of Plastics in Primary Forms in Turkey

In value terms, plastics in primary forms production rose notably to $X in 2023 estimated in export price. In general, production showed a resilient expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. Plastics in primary forms production peaked at $X in 2019; however, from 2020 to 2023, production failed to regain momentum.

Exports of Plastics in Primary Forms

Exports from Turkey

For the sixth consecutive year, Turkey recorded growth in shipments abroad of plastics in primary formses, which increased by X% to X tons in 2023. Overall, exports enjoyed strong growth. The pace of growth appeared the most rapid in 2021 when exports increased by X%. The exports peaked in 2023 and are expected to retain growth in the immediate term.

In value terms, plastics in primary forms exports declined to $X in 2023. Over the period under review, exports posted resilient growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2022, and then dropped in the following year.

Exports by Country

Russia (X tons), Ukraine (X tons) and Romania (X tons) were the main destinations of plastics in primary forms exports from Turkey, with a combined X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Ukraine (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Russia ($X) remains the key foreign market for plastics in primary formses exports from Turkey, comprising X% of total exports. The second position in the ranking was held by Ukraine ($X), with a X% share of total exports. It was followed by Spain, with a X% share.

From 2012 to 2023, the average annual growth rate of value to Russia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ukraine (X% per year) and Spain (X% per year).

Export Prices by Country

In 2023, the average plastics in primary forms export price amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average export price increased by X%. The export price peaked at $X per ton in 2022, and then dropped remarkably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Greece ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Italy (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Plastics in Primary Forms

Imports into Turkey

In 2023, plastics in primary forms imports into Turkey amounted to X tons, increasing by X% compared with the year before. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Imports peaked in 2023 and are expected to retain growth in the near future.

In value terms, plastics in primary forms imports contracted dramatically to $X in 2023. Overall, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports failed to regain momentum.

Imports by Country

Saudi Arabia (X tons), South Korea (X tons) and Russia (X tons) were the main suppliers of plastics in primary forms imports to Turkey, with a combined X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for Russia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), South Korea ($X) and Germany ($X) appeared to be the largest plastics in primary forms suppliers to Turkey, with a combined X% share of total imports. China, the United States, Russia, Belgium, Egypt, Italy, Spain, France, Iran and the United Arab Emirates lagged somewhat behind, together accounting for a further X%.

Russia, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average plastics in primary forms import price stood at $X per ton in 2023, waning by X% against the previous year. In general, the import price continues to indicate a mild downturn. The growth pace was the most rapid in 2021 an increase of X%. The import price peaked at $X per ton in 2022, and then contracted markedly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Italy (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform