Turkey's petrochemicals industry saw solid growth in 2017 with chemicals up 4.5% y-o-y and rubber and plastic growing 6.0%. This was higher than growth of 3% and 5% that we had anticipated in the previous quarterly report. Growth was helped by a low base in 2016 as well as solid local market demand. While an increase in refinery capacity should have a positive impact in 2018, the rate of growth is likely to slow due to capacity constraints. In 2017, Turkey's organic chemicals exports rose 44.5% y-o-y to USD0.66bn while primary plastics exports grew 23.7% to USD1.14bn. Over the same period, organic chemicals imports rose 24.5% to USD5.25bn and primary plastics imports rose 16.8% to USD10.16bn. While import growth was slower than exports, the country's petrochemicals trade deficit grew with organic chemicals up 62.0% to USD4.59bn and primary plastics up 53.5% to USD9.02bn.

Key View

SWOT

Industry Forecast

Macroeconomic Forecasts

Turkish Economic Outlook Deteriorating, With Further Downside Risks

Industry Risk/Reward Index

Europe Petrochemicals Risk/Reward Index

Turkey Petrochemicals Risk/Reward Index

Market Overview

Industry Trends And Developments

Company Profile

Petkim

Turkish Petroleum Refineries Corporation (Tüpras

Regional Overview

Europe Overview

Global Industry Overview

Turkey Demographic Outlook

Petrochemicals Glossary

Petrochemicals Methodology