Turkey's Import of Elastomeric Filament Yarn Falls to $76 Million in 2024 - News and Statistics - IndexBox

For the third consecutive year, Turkey recorded decline in purchases abroad of elastomeric filament yarn, which decreased by -36.6% to 14K tons in 2024. In general, imports continue to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2016 when imports increased by 20%. Over the period under review, imports hit record highs at 31K tons in 2021; however, from 2022 to 2024, imports remained at a lower figure.

In value terms, elastomeric filament yarn imports declined dramatically to $76M (IndexBox estimates) in 2024. Overall, imports saw a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of 130%. As a result, imports attained the peak of $294M. From 2022 to 2024, the growth of imports failed to regain momentum.

In 2024, China (7.2K tons) constituted the largest elastomeric filament yarn supplier to Turkey, accounting for a 52% share of total imports. Moreover, elastomeric filament yarn imports from China exceeded the figures recorded by the second-largest supplier, Vietnam (2.3K tons), threefold. The UK (1.4K tons) ranked third in terms of total imports with a 10% share.

From 2014 to 2024, the average annual growth rate of volume from China totaled +5.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-1.1% per year) and the UK (-9.8% per year).

In value terms, China ($39M) constituted the largest supplier of elastomeric filament yarn to Turkey, comprising 51% of total imports. The second position in the ranking was taken by Vietnam ($12M), with a 16% share of total imports. It was followed by the UK, with a 15% share.

From 2014 to 2024, the average annual growth rate of value from China totaled +1.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (-4.4% per year) and the UK (-11.6% per year).

In 2024, the elastomeric filament yarn price stood at $5,483 per ton (CIF, Turkey), increasing by 3.2% against the previous year. Overall, the import price, however, saw a noticeable shrinkage. The growth pace was the most rapid in 2021 when the average import price increased by 100%. The import price peaked at $9,617 per ton in 2022; however, from 2023 to 2024, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($7,998 per ton), while the price for India ($2,962 per ton) was amongst the lowest.

From 2014 to 2024, the most notable rate of growth in terms of prices was attained by South Korea (-1.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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