Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Turkey - 2024
Contents:
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Turkey (CIF) - 2024
- Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Turkey (FOB) - 2022
- Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Turkey
- Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Turkey
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Turkey (CIF) - 2024
The average import price for acids; saturated acyclic monocarboxylic acids; formic acids stood at $759 per ton in July 2023, picking up by 12% against the previous month. Over the last four-month period, it increased at an average monthly rate of +5.4%. The pace of growth was the most pronounced in May 2023 when the average import price increased by 15% month-to-month. The import price peaked in July 2023.
Average prices varied noticeably amongst the major supplying countries. In July 2023, the country with the highest price was Finland ($908 per ton), while the price for China ($753 per ton) was amongst the lowest.
From March 2023 to July 2023, the most notable rate of growth in terms of prices was attained by Germany (+8.7%), while the prices for the other major suppliers experienced more modest paces of growth.
Price for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Turkey (FOB) - 2022
The average export price for acids; saturated acyclic monocarboxylic acids; formic acids stood at $1,510 per ton in 2022, jumping by 33% against the previous year. In general, the export price enjoyed modest growth. The pace of growth appeared the most rapid in 2018 when the average export price increased by 198% against the previous year. As a result, the export price reached the peak level of $2,708 per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.
There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Uzbekistan ($1,872 per ton), while the average price for exports to Sudan ($850 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 Arab Emirates (+22.4%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Turkey
In 2022, purchases abroad of acids; saturated acyclic monocarboxylic acids; formic acids decreased by -57.3% to 29K tons for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 70% against the previous year.
In value terms, imports of acids; saturated acyclic monocarboxylic acids; formic acids skyrocketed to $63M in 2022. Overall, imports, however, saw a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 124%. Imports peaked in 2022 and are likely to continue growth in years to come.
| Import of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Turkey (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 7.5 | 5.7 | 16.7 | 23.5 | 46.3% |
| Germany | 6.1 | 4.7 | 6.3 | 6.8 | 3.7% |
| Finland | 0.6 | 0.1 | 0.6 | 0.3 | -20.6% |
| Others | 15.9 | 10.8 | 24.2 | 32.2 | 26.5% |
| Total | 30.2 | 21.3 | 47.7 | 62.8 | 27.6% |
Top Suppliers of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid to Turkey in 2022:
- China (18.0K tons)
- Germany (10.0K tons)
- Finland (0.2K tons)
Exports of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Turkey
After three years of growth, shipments abroad of acids; saturated acyclic monocarboxylic acids; formic acids decreased by -12% to 2.8K tons in 2022. Overall, exports, however, posted a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 238%. As a result, the exports reached the peak of 3.1K tons, and then shrank in the following year.
In value terms, exports of acids; saturated acyclic monocarboxylic acids; formic acids skyrocketed to $4.2M in 2022. Over the period under review, exports, however, recorded significant growth. The pace of growth appeared the most rapid in 2021 with an increase of 418% against the previous year. The exports peaked in 2022 and are likely to see gradual growth in years to come.
| Export of Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid in Turkey (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Russia | N/A | N/A | N/A | 652 | 0% |
| Uzbekistan | 191 | 148 | 240 | 543 | 41.7% |
| Azerbaijan | 147 | 100 | 122 | 197 | 10.3% |
| Egypt | 5.4 | 11.5 | 13.4 | 167 | 213.9% |
| Germany | N/A | N/A | 425 | 80.9 | -81.0% |
| Israel | 0.5 | 1.6 | 51.8 | 65.3 | 407.4% |
| United Arab Emirates | 12.1 | 4.0 | 35.6 | 61.5 | 71.9% |
| Portugal | N/A | N/A | N/A | 49.0 | 0% |
| Turkmenistan | 11.7 | 14.0 | 83.1 | 39.5 | 50.0% |
| Tajikistan | 15.6 | 24.6 | 49.4 | 37.6 | 34.1% |
| Sudan | 11.5 | 4.0 | 24.5 | 36.9 | 47.5% |
| Lebanon | N/A | 0.1 | 0.3 | 22.4 | 1396.7% |
| Italy | N/A | N/A | 583 | N/A | 0% |
| Others | 429 | 383 | 1,949 | 2,229 | 73.2% |
| Total | 823 | 691 | 3,578 | 4,181 | 71.9% |
Top Export Markets for Acids; Saturated Acyclic Monocarboxylic Acids; Formic Acid from Turkey in 2022:
- Russia (553.0 tons)
- Uzbekistan (290.2 tons)
- Egypt (108.1 tons)
- Azerbaijan (107.1 tons)
- Portugal (48.0 tons)
- Germany (47.4 tons)
- Sudan (43.5 tons)
- Israel (37.8 tons)
- United Arab Emirates (36.0 tons)
- Tajikistan (31.2 tons)
- Lebanon (25.3 tons)
- Turkmenistan (21.5 tons)
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