Turkey Petrochemicals Q4 2018
Turkish domestic polymer supplies are set to be disrupted by a number of factors, including the depreciation of the lira,new capacities in the US, growing US protectionism and sanctions on Iran, Turkey's main external source of petrochemicals. Inaddition, the domestic economy is slowing down. While this will not reduce domestic petrochemicals production with plantsoperating at near full capacity, it will slow imports and we predict market stagnation in H218 and going into 2019. Sanctions on Iranare likely to limit trade between the two countries and in spite of the slowdown in Turkish imports, we expect polyethylene importsfrom the US to swell - provided the Turkish government does not respond to increased tariffs on Turkish aluminium and steel withretaliation against US polymers.
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