Turkey: Wire And Cable Market 2024

Wire And Cable Market Size in Turkey

The Turkish wire and cable market reduced markedly to $X in 2022, declining by X% against the previous year. In general, consumption, however, saw a strong increase. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Wire And Cable Production in Turkey

In value terms, wire and cable production contracted markedly to $X in 2022 estimated in export price. Overall, production, however, showed a remarkable increase. The pace of growth was the most pronounced in 2018 with an increase of X%. Wire and cable production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Wire And Cable Exports

Exports from Turkey

For the fifth consecutive year, Turkey recorded growth in overseas shipments of insulated wire and cable, which increased by X% to X tons in 2022. The total export volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, wire and cable exports expanded markedly to $X in 2022. Overall, total exports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. The exports peaked in 2022 and are likely to continue growth in years to come.

Exports by Country

The UK (X tons) was the main destination for wire and cable exports from Turkey, accounting for a X% share of total exports. Moreover, wire and cable exports to the UK exceeded the volume sent to the second major destination, Germany (X tons), threefold. The third position in this ranking was held by Israel (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the UK amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Israel (X% per year).

In value terms, the UK ($X) remains the key foreign market for insulated wire and cable exports from Turkey, comprising X% of total exports. The second position in the ranking was taken by Germany ($X), with a X% share of total exports. It was followed by Israel, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the UK stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Israel (X% per year).

Export Prices by Country

In 2022, the average wire and cable export price amounted to $X per ton, picking up by X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. Over the period under review, the average export prices hit record highs in 2022 and is expected to retain growth in years to come.

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

Wire And Cable Imports

Imports into Turkey

In 2022, overseas purchases of insulated wire and cable increased by X% to X tons, rising for the third consecutive year after three years of decline. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, wire and cable imports surged to $X in 2022. Overall, total imports indicated a strong expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of wire and cable to Turkey, accounting for a X% share of total imports. Moreover, wire and cable imports from China exceeded the figures recorded by the second-largest supplier, Bulgaria (X tons), twofold. Portugal (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Bulgaria (X% per year) and Portugal (X% per year).

In value terms, China ($X), Bulgaria ($X) and Germany ($X) appeared to be the largest wire and cable suppliers to Turkey, with a combined X% share of total imports. Norway, Egypt, Italy, Romania, Morocco, Portugal, France, South Korea, the Czech Republic and Thailand lagged somewhat behind, together accounting for a further X%.

Norway, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average wire and cable import price amounted to $X per ton, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Morocco ($X per ton), while the price for Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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