IndexBox has just published a new report: ‘Turkey – Polycarboxylic Acids – Market Analysis, Forecast, Size, Trends and Insights‘. Here is a summary of the report’s key findings.
Turkey featured a record growth of polycarboxylic acid imports over the past decade. From 2010 to 2020, imports surged fourfold in physical terms and twofold in value terms. In 2020, the supplies to Turkey rose by +41% y-o-y to 1.4M tonnes. South Korea remains the largest supplier of polycarboxylic acids, accounting for 41% of Turkey’s imports. The average polycarboxylic acid import price fell by -36% y-o-y to $599 per tonne in 2020.
Turkey’s Polycarboxylic Imports by Country
Over the last decade, Turkey’s polycarboxylic acid imports grew from 322K tonnes to 1.4M tonnes. In value terms, imports soared from $401M to $825M during this period.
In 2020, polycarboxylic acid imports into Turkey surged by +41% y-o-y against 2019. In value terms, imports fell from $915M in 2019 to $825M (IndexBox estimates) in 2020.
In 2020, South Korea (568K tonnes) constituted the largest supplier of polycarboxylic acid to Turkey, accounting for a 41% share of total imports. Moreover, polycarboxylic acid imports from South Korea exceeded the figures recorded by the second-largest supplier, Belgium (249K tonnes), twofold. Portugal (226K tonnes) ranked third in terms of total imports with a 16% share.
In 2020, the volume of imports from South Korea increased by +41.2% y-o-y. The remaining exporting countries recorded the following growth of supplies: Belgium (+69.9% y-o-y), Portugal (+1.5% y-o-y).
In value terms, South Korea ($312M) constituted the largest supplier of polycarboxylic acid to Turkey, comprising 38% of total imports. The second position in the ranking was occupied by Belgium ($134M), with a 16% share of total imports, and it was followed by Portugal, with a 15% share.
In 2020, the average polycarboxylic acid import price amounted to $599 per tonne, waning by -35.8% against the previous year. There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Germany ($1,031 per tonne), while the price for Belgium ($539 per tonne) was amongst the lowest. In 2020, the most notable rate of growth in terms of prices was attained by India, while the prices for the other significant suppliers experienced mixed trend patterns.
Source: IndexBox Platform
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