Turkey: Market for Zirconium Ores and Concentrates 2024

Market Size for Zirconium Ores and Concentrates in Turkey

The Turkish zirconium ore and concentrate market shrank remarkably to $X in 2023, dropping by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a resilient expansion. As a result, consumption attained the peak level of $X, and then contracted remarkably in the following year.

Exports of Zirconium Ores and Concentrates

Exports from Turkey

In 2023, shipments abroad of zirconium ores and concentrates decreased by X% to X tons for the first time since 2018, thus ending a four-year rising trend. In general, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The exports peaked at X tons in 2022, and then fell remarkably in the following year.

In value terms, zirconium ore and concentrate exports dropped notably to $X in 2023. Over the period under review, exports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. The exports peaked at $X in 2022, and then fell sharply in the following year.

Exports by Country

The Czech Republic (X tons) was the main destination for zirconium ore and concentrate exports from Turkey, with a X% share of total exports. Moreover, zirconium ore and concentrate exports to the Czech Republic exceeded the volume sent to the second major destination, Algeria (X tons), fivefold. Uzbekistan (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to the Czech Republic amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Algeria (X,900.0% per year) and Uzbekistan (X% per year).

In value terms, the Czech Republic ($X) remains the key foreign market for zirconium ores and concentrates exports from Turkey, comprising X% of total exports. The second position in the ranking was taken by Algeria ($X), with a X% share of total exports. It was followed by Uzbekistan, with a X% share.

From 2012 to 2023, the average annual growth rate of value to the Czech Republic amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Algeria (X,220.0% per year) and Uzbekistan (X% per year).

Export Prices by Country

In 2023, the average zirconium ore and concentrate export price amounted to $X per ton, remaining constant against the previous year. Overall, the export price enjoyed a perceptible expansion. The most prominent rate of growth was recorded in 2022 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the peak figure in 2023 and is likely to see gradual growth in years to come.

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

Imports of Zirconium Ores and Concentrates

Imports into Turkey

In 2023, zirconium ore and concentrate imports into Turkey reduced dramatically to X tons, falling by X% compared with 2022. In general, imports, however, showed a resilient increase. The pace of growth was the most pronounced in 2016 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2023, the growth of imports failed to regain momentum.

In value terms, zirconium ore and concentrate imports shrank markedly to $X in 2023. Over the period under review, imports, however, continue to indicate a strong expansion. The growth pace was the most rapid in 2022 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then reduced rapidly in the following year.

Imports by Country

South Africa (X tons), Senegal (X tons) and Indonesia (X tons) were the main suppliers of zirconium ore and concentrate imports to Turkey, with a combined X% share of total imports. Ukraine, Egypt, Russia, Vietnam, Italy, the United States and Spain lagged somewhat behind, together accounting for a further X%.

From 2012 to 2023, the biggest increases were recorded for Vietnam (with a CAGR of X.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest zirconium ore and concentrate suppliers to Turkey were South Africa ($X), Senegal ($X) and Indonesia ($X), with a combined X% share of total imports. Russia, Ukraine, Vietnam, Italy, Egypt, the United States and Spain lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Vietnam, with a CAGR of X.5%, 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 zirconium ore and concentrate import price stood at $X per ton in 2023, dropping by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton, and then dropped in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Russia ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform