Now Available: Turkey Petrochemicals Report Q2 2016
Fast Market Research recommends “Turkey Petrochemicals Report Q2 2016” from Business Monitor International, now available
PR-Inside.com: 2016-04-01 12:38:08
Turkish petrochemicals production growth has slowed over the past year and the country’s industry entered 2016 with further downward pressure on prices in an increasingly challenging market. Greater political certainty has not provided sufficient basis for stronger growth in the immediate future, but the country continues to invest in refinery and petrochemicals capacities in a drive to become self-sufficient.
BMI estimates that Turkey’s overall chemicals growth in 2015 was 3.2%, while rubber and plastic grew 1.2%. This marked a significant downturn from the 4.6% chemicals growth and 3.0% rubber and plastic growth reported in 2014 and is in line with the country’s overall industrial slowdown. Turkish petrochemicals producer Petkim’s output totalled 4.84mn tonnes, down 1.6% y-o-y, which was in spite of capacity expansion, due primarily to polyethylene market weaknesses.
The situation in Q116 appeared to show no significant change with weakening prices. However, the feared influx of Iranian product did not transpire. BMI believes it will not be until mid-2016 that Iranian polymer starts impacting on markets, with Europe likely to be a prime destination. Turkey’s weak domestic prices may prompt Iranian producers to export to Europe instead.
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The growth of the Turkish petrochemicals industry will be influenced by both the large and growing domestic market as well as export-oriented industries. Turkey’s construction and automotive sectors are set to maintain positive growth trajectories over our forecast period, thanks to continued investment in urban regeneration and strong growth for vehicles, albeit following a deep slump.
In order to overcome any domestic weaknesses over the medium term, Petkim has established its export targets to 2018. It is hoping to raise them from USD110mn in 2015 to USD155mn in 2016, USD175mn in 2017 and USD200mn in 2018. Although this almost doubles the value of exports over three years, compared with other producers in the region it will remain a relatively minor regional player.
By 2020, BMI forecasts capacities of 1400,000 tonnes per annum (tpa) ethylene, 700,000tpa polyethylene, 960,000tpa polypropylene, 300,000tpa polyvinyl chloride and 986,000tpa polyethylene terephthalate (PET).
Turkey sits in 12th place in BMI’s Europe Petrochemicals Risk/Reward Index this quarter, with a score of 49.5 out of 100, up 1.4 points since the previous quarter due to an improvement in long-term external risk as well as new petrochemicals capacity now coming into focus. Its ranking remains ahead of Slovakia but behind the Czech Republic, with no likelihood that it will climb the rankings over the coming quarters due to its relatively poor risk levels and the current comparatively low level of capacities, which limit both risks and rewards. Security risks will remain a major concern for investors, but logistics issues and an unstable policy trajectory will also weigh on the wider business environment.
The Turkey Petrochemicals Report has been researched at source, and features BMI Research’s market assessment and independent forecasts for key petrochemicals sub-sectors. The report also analyses the impact of regulatory changes, recent developments and the background macroeconomic outlook and features competitive landscapes comparing companies by products and services, sales, market share, investments, projects, partners and expansion strategies.
BMI’s Turkey Petrochemicals Report provides industry professionals and strategists, sector analysts, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Turkish petrochemicals industry.
Benchmark BMI’s independent petrochemicals industry forecasts to test other views – a key input for successful budgetary and planning in the Turkish petrochemicals market.
Target business opportunities and risks in the Turkish petrochemicals sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Turkey.
Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. KPIs and latest activity).
BMI Industry View
Summary of BMI�s key industry forecasts, views and trend analysis, covering the petrochemicals markets, regulatory changes, major investments, projects and company developments.
Industry SWOT Analysis
Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the petrochemicals sector and within the broader political, economic and business environment.
BMI Industry Forecasts
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Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI’s country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at www.fastmr.com/catalog/publishers.aspx?pubid=1010&afid=701
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