Maleic Anhydride Imports in Turkey Experience a Significant 36% Decrease in July 2023, Totaling $4M

In July 2023, the volume of maleic anhydride imports in Turkey declined by 32.1% to 3.9K tons, marking the second consecutive month of decline after three months of growth. However, overall imports showed a noticeable expansion, with the most rapid growth recorded in August 2022 at a 140% increase compared to the previous month. In terms of value, maleic anhydride imports saw a significant drop to $4M in July 2023, according to estimates from IndexBox. Imports experienced a pronounced shrinkage during the review period, with the most pronounced growth occurring in August 2022, reaching a peak of $12M. From September 2022 to July 2023, import growth remained at a slightly lower figure. Russia, China, and South Korea were the main suppliers of maleic anhydride imports to Turkey, accounting for a combined 91% share of total imports. During the period from July 2022 to July 2023, Russia experienced the highest growth rate in terms of volume, with a CAGR of +24.0%, while other leading suppliers had mixed trend patterns. In terms of value, Russia, South Korea, and China were the largest maleic anhydride suppliers to Turkey, comprising 90% of total imports. Russia also witnessed the highest rate of growth in terms of import value, with a CAGR of +15.0% during the review period. The import price of maleic anhydride in Turkey stood at $1,007 per ton in July 2023, representing a 5.9% decrease from the previous month. Average import prices reached their peak at $2,148 per ton in July 2022 but failed to regain momentum from August 2022 to July 2023. Average prices varied among the major supplying countries, with the highest recorded prices from Malaysia and South Korea, and the lowest prices from Russia and Iran. Iran witnessed a notable growth rate in terms of prices, while other major suppliers experienced a decline during the review period.

Source: IndexBox Market Intelligence Platform