(MENAFNEditorial)
The short-term outlook for the Turkish petrochemicals industry is challenging with the depreciation of the lira and the rising cost of credit dampening domestic demand but export growth and low stocks should help lift demand going forward according to BMI's latest Turkey Petrochemicals Report.
Buying demand for polymers appeared to decrease going into Q314 amid increased production and slower than expected market growth. Turkish petrochemicals demand will be robust in the coming years after a temporary slowdown in 2013. The key drivers will be strong construction and autos industry growth. However in the short-term the pressures Turkey has felt over 2013 and the first half of 2014 will dampen the growth of the local petrochemicals market. The Turkish lira has suffered a major depreciation. In the face of mounting policy uncertainty and rising US bond yields project financing from domestic banks will subsequently become more expensive as Turkish banks are heavily reliant on international credit. This will have knock-on effects on industrial consumption of petrochemicals projects as well as the wider economic context.
Full Report Details at
- http://www.fastmr.com/prod/872694_turkey_petrochemicals_report_q4_2014.aspx?afid=101
* We are forecasting significant growth in the Turkish autos sector which should support engineering plastics used in vehicle production. Despite a fall in 2012 BMI maintains there will be resurgence in Turkish autos production on the back of relatively strong export growth and domestic sales. BMI's Autos Team forecasts Turkish vehicle production to grow on average 8.4% year-on-year (y-o-y) from 1.07mn vehicles in 2012 to 1.74mn vehicles in 2018.
* We maintain the view that the fundamentals of Turkey's petrochemicals market - a growing population the privatisation drive and a thriving role as an energy and transport hub - will keep the market on the watch list for investors. Prime Minister Erdogan has confirmed his government's determination to go ahead with the country's grand construction projects which points to continued opportunities...
The Turkey Petrochemicals Report has been researched at source and features Business Monitor International (BMI)'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.
Key Benefits
* 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).
Coverage
BMI Industry View
Summary of BMI's key industry forecasts views and trend analysis covering petrochemicals markets regulatory changes major investments projects and company developments.
Market Overview
Structure size and value of the industry sector; overview of the industry landscape and key players; assessment of the business operating environment and the latest regulatory developments.
Business Environment Rankings
BMI's Petrochemicals Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors (both corporate and financial) in the regional petrochemicals market.
The rankings methodology makes sophisticated use of over 40 industry economic and demographic data points and is part of BMI's integrated Country Risk-Industry Rankings products.
Industry Trends & Developments
Evaluation of company and sector-wide developments including key projects (as well as expansion plans) latest company financial details and proposed international ventures.
BMI Industry Forecasts
Historic data series (2009-2012) and forecasts to end-2018 for all key industry and economic indicators supported by explicit assumptions plus analysis of key risks to the main forecasts. Indicators include:
Energy: Oil production (`000 b/d) oil consumption (`000 b/d) net oil exports (`000 b/d) gas production (bcm) gas consumption (bcm) net gas exports (bcm) oil refinery capacity (`000 b/d).
Petrochemicals: Ethylene capacity (`000 tpa) ethylene production (`000 tpa) ethylene consumption (`000 tpa) polyethylene capacity (`000 tpa) polypropylene capacity (`000 tpa) polyvinyl chloride capacity (`000 tpa) polyolefins consumption (`000 tpa).
Oil Products Prices: Price forecasts for all major oil-based products (US$/bbl) at major global energy trading hubs.
Economic: Nominal GDP (US$bn) real GDP growth (%) GDP per capita (US$) population (mn) unemployment (%) exchange rate (against US$).
Company Profiles
Examines the competitive positioning and short- to medium-term business strategies of key industry players. Strategy is examined within the context of BMI's industry forecasts our macroeconomic views and our understanding of the wider competitive landscape. The latest financial and operating statistics and key company developments are also incorporated within the company profiles enabling a full evaluation of recent company performance and future growth prospects.
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