Turkey Petrochemicals Report - Q4 2014

Business Monitor International
September 10, 2014
103 Pages - SKU: BMI5325723
Countries covered: Turkey

Turkey Petrochemicals Report - Q4 2014

The short-term outlook for the Turkish petrochemicals industry is challenging, with the depreciation of thelira and the rising cost of credit dampening domestic demand, but export growth and low stocks should helplift 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 slowerthan expected market growth. Turkish petrochemicals demand will be robust in the coming years after atemporary 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 dampenthe growth of the local petrochemicals market. The Turkish lira has suffered a major depreciation. In theface of mounting policy uncertainty and rising US bond yields, project financing from domestic banks willsubsequently become more expensive as Turkish banks are heavily reliant on international credit. This willhave knock-on effects on industrial consumption of petrochemicals projects as well as the wider economiccontext.

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