Turkey's Synthetic Yarn Exports Plummet to $650 Million in 2023 - News and Statistics - IndexBox

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In 2023, approx. 111K tons of yarn of synthetic or artificial staple fibers were exported from Turkey; reducing by -12.5% on the year before. The total export volume increased at an average annual rate of +1.1% from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when exports increased by 37%. As a result, the exports reached the peak of 131K tons. From 2022 to 2023, the growth of the exports failed to regain momentum.

In value terms, synthetic yarn exports declined to $650M (IndexBox estimates) in 2023. Over the period under review, total exports indicated a modest increase from 2013 to 2023: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when exports increased by 58% against the previous year. Over the period under review, the exports attained the peak figure at $759M in 2022, and then declined in the following year.

the United States (13K tons), Italy (13K tons) and Russia (9K tons) were the main destinations of synthetic yarn exports from Turkey, together accounting for 32% of total exports. Belarus, the UK, Georgia, Iran, Spain and Germany lagged somewhat behind, together comprising a further 28%.

From 2013 to 2023, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Georgia (with a CAGR of +69.7%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($100M), Italy ($79M) and the UK ($45M) appeared to be the largest markets for synthetic yarn exported from Turkey worldwide, together comprising 34% of total exports. Russia, Belarus, Georgia, Spain, Germany and Iran lagged somewhat behind, together comprising a further 30%.

In terms of the main countries of destination, Georgia, with a CAGR of +74.9%, 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.

Yarn (other than sewing thread) of synthetic staple fibres, not put up for retail sale (74K tons) was the largest type of yarn of synthetic or artificial staple fibers exported from Turkey, accounting for a 67% share of total exports. Moreover, yarn (other than sewing thread) of synthetic staple fibres, not put up for retail sale exceeded the volume of the second product type, yarn (not sewing thread), of man-made staple fibres, put up for retail sale (29K tons), threefold.

From 2013 to 2023, the average annual rate of growth in terms of the volume of yarn (other than sewing thread) of synthetic staple fibres, not put up for retail sale exports amounted to +2.6%. With regard to the other exported products, the following average annual rates of growth were recorded: yarn (not sewing thread), of man-made staple fibres, put up for retail sale (+4.7% per year) and yarn (other than sewing thread) of artificial staple fibres, not put up for retail sale (-10.3% per year).

In value terms, yarn (other than sewing thread) of synthetic staple fibres, not put up for retail sale ($388M), yarn (not sewing thread), of man-made staple fibres, put up for retail sale ($216M) and yarn (other than sewing thread) of artificial staple fibres, not put up for retail sale ($46M) were the most exported types of yarn of synthetic or artificial staple fibers from Turkey worldwide.

Among the main product categories, yarn (other than sewing thread) of synthetic staple fibres, not put up for retail sale, with a CAGR of +2.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other products experienced mixed trend patterns.

In 2023, the synthetic yarn price stood at $5,877 per ton (FOB, Turkey), with a decrease of -2.1% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average export price increased by 16% against the previous year. Over the period under review, the average export prices attained the peak figure at $6,002 per ton in 2022, and then reduced slightly in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($7,688 per ton), while the average price for exports to Uzbekistan ($3,481 per ton) was amongst the lowest.

From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Brazil (+7.9%), while the prices for the other major destinations experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the synthetic yarn market in Turkey. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

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