Updated Oct 18, 2022 02:20

Non-Reinforced Rubber Tubing Market in Turkey

Market Overview
In , after two years of growth, there was decline in the Turkish non-reinforced rubber tubing market, when its value decreased by -% to $. Overall, consumption, however, showed a perceptible expansion. Over the period under review, the market attained the maximum level at $ in 2016; however, from 2017 to , consumption remained at a lower figure.

In value terms, non-reinforced rubber tubing production contracted slightly to $ in estimated in export price. Over the period under review, the total production indicated a modest increase from 2007 to : its value increased at an average annual rate of +% over the last fourteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on figures, production decreased by +% against 2019 indices. The most prominent rate of growth was recorded in 2010 with an increase of %. Non-reinforced rubber tubing production peaked at $ in 2014; however, from 2015 to , production stood at a somewhat lower figure.


Consumption
In , consumption of rubber tubing not reinforced in Turkey totaled tons, increasing by % compared with the year before. In general, consumption showed moderate growth. Non-reinforced rubber tubing consumption peaked at tons in 2016; however, from 2017 to , consumption failed to regain momentum.

The revenue of the non-reinforced rubber tubing market in Turkey expanded modestly to $ in , surging by % 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). Over the period under review, consumption enjoyed measured growth. Non-reinforced rubber tubing consumption peaked at $ in 2016; however, from 2017 to , consumption failed to regain momentum.


Market Forecast
Driven by increasing demand for non-reinforced rubber tubing in Turkey, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .


Market Structure
Over the period under review, imports of non-reinforced rubber tubing in Turkey were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for non-reinforced rubber tubing. In , the share of imports in total consumption accounted for % in value terms and % in physical terms. The share of imports decreased moderately (- percentage point) over the period under review.


Trade Balance
Turkey remains a net exporter of non-reinforced rubber tubing; in physical and value terms, exports consistently exceeded imports from 2007 to . In , there was a significant trade surplus of tons, which was equal to $. This tangible trade surplus reflects the fact that the market remains buoyed by domestic production, and the industry is highly incorporated into the global market, which is likely to continue in the medium term.