Turkey: Zinc Market 2024

Zinc Market Size in Turkey

The Turkish zinc market surged to $X in 2021, with an increase of 27% against the previous year. Overall, the total consumption indicated a buoyant expansion from 2012 to 2021: its value increased at an average annual rate of +7.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +28.2% against 2019 indices. Over the period under review, the market reached the peak level in 2021 and is expected to retain growth in the near future.

Zinc Production in Turkey

In value terms, zinc production rose markedly to $X in 2021 estimated in export price. In general, production, however, showed buoyant growth. The pace of growth was the most pronounced in 2017 with an increase of 70% against the previous year. Zinc production peaked at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Zinc Exports

Exports from Turkey

In 2021, approx. X tons of zinc were exported from Turkey; with an increase of 49% against the year before. In general, exports recorded a relatively flat trend pattern. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, zinc exports skyrocketed to $X in 2021. Overall, total exports indicated noticeable growth from 2012 to 2021: its value increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Russia (X tons), Israel (X tons) and Italy (X tons) were the main destinations of zinc exports from Turkey, together accounting for 62% of total exports. These countries were followed by Romania, Uzbekistan, Libya, Azerbaijan, Serbia, Egypt, South Africa, Georgia, Morocco and China, which together accounted for a further 35%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by South Africa (with a CAGR of +240.4%), while the other leaders experienced more modest paces of growth.

In value terms, Russia ($X), Israel ($X) and Italy ($X) constituted the largest markets for zinc exported from Turkey worldwide, together accounting for 60% of total exports. Romania, Uzbekistan, Azerbaijan, Libya, Serbia, Egypt, Georgia, Morocco, South Africa and China lagged somewhat behind, together accounting for a further 37%.

In terms of the main countries of destination, South Africa, with a CAGR of +167.7%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average zinc export price amounted to $X per ton, increasing by 37% against the previous year. In general, export price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +4.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the average export price increased by 56% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to China ($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 Serbia (+6.9%), while the prices for the other major destinations experienced more modest paces of growth.

Zinc Imports

Imports into Turkey

In 2021, purchases abroad of zinc increased by 11% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +3.5% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 12% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in years to come.

In value terms, zinc imports skyrocketed to $X in 2021. Over the period under review, total imports indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +8.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Spain (X tons), Iran (X tons) and Uzbekistan (X tons) were the main suppliers of zinc imports to Turkey, together comprising 76% of total imports. These countries were followed by Bulgaria, Belgium, Italy, Kazakhstan and Peru, which together accounted for a further 26%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +39.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest zinc suppliers to Turkey were Spain ($X), Iran ($X) and Uzbekistan ($X), with a combined 71% share of total imports. Bulgaria, Italy, Belgium, Kazakhstan and Peru lagged somewhat behind, together comprising a further 22%.

Among the main suppliers, Italy, with a CAGR of +44.1%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average zinc import price stood at $X per ton in 2021, increasing by 39% against the previous year. Overall, import price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Kazakhstan ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Kazakhstan (+6.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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