2012-10-24 16:10:50 - New Energy market report from Business Monitor International: "Turkey Petrochemicals Report Q4 2012"
This latest Turkey Petrochemicals Report examines the latest developments in polymer resins, particularly polypropylene (PP) and polyethylene terephthalate (PET), which promise to be the country's key growth drivers over the next five years. It also examines the impact of slowing exports on the domestic petrochemicals market, which will remain largely dependent on imports over the short term. The report examines the market's potential as Turkey presents itself as a competitive manufacturing hub for Europe and analyses the responses of local producers in satisfying increasing feedstock demand. In the long term, the country is destined for greater self-sufficiency, which will ensure petrochemicals imports remain subdued over the foreseeable future. The Turkish petrochemicals industry is set for significant expansion, with Petkim leading
the way. The construction of a new 200,000b/d (10mn tonnes per annum (tpa)) refinery is set to supply up to 2mn tpa of naphtha feedstock to plants that will help reduce Turkey's level of chemical imports from 70-75% of domestic demand to 30%. Over the short term, Petkim plans to increase capacity at its existing petrochemical complex, raising ethylene capacity by 80,000tpa to 600,000tpa. A planned ethylene unit will double olefins capacity at the complex.
Full Report Details at
- www.fastmr.com/prod/464567_turkey_petrochemicals_report_q4_2012. ..
In terms of the Turkish petrochemical market, there is likely to be a slowdown in sales growth, but BMI does not anticipate a contraction in 2012. Trends will mirror overall industrial production growth, which is forecast to decline from 9.1% in 2011 to 3.4% in 2012 due to falling export growth. Exports are slowing in line with weaker demand from the eurozone, in addition to deteriorating business sentiment indicators. In turn, firms' propensity to engage in large-scale investment spending is likely to remain weak until there is a fundamental improvement in economic conditions.
Over the last quarter, BMI has revised the following forecasts/views:
* A joint venture between Saudi Arabian PP producer Advanced Petrochemical Company and Turkish trading company Bayegan Group is planning a 500,000tpa PP plant, which is due to start commercial operations in Q415. This will raise national PP capacity to 650,000tpa by 2016.
* PET capacity is set to be raised by 432,000tpa in 2012 and a further 600,000tpa in 2015 as a result of strong investment in export-oriented polyester production
* Turkey remains in fifth place in BMI's Central and Eastern Europe (CEE) petrochemicals business environment ratings (BERs) this quarter with 48.7 points, unchanged since the previous quarter. This puts it 9.1 points behind Hungary and 2.3 points ahead of Slovakia.
Report Table of Contents:
- Turkey Petrochemicals Industry SWOT
- Turkey Political SWOT
- Turkey Economic SWOT
- Turkey Business Environment SWOT
Global Petrochemicals Overview
- Petrochemicals Market Overview
- Table: World Ethylene Production By Country, 2011 And 2016 ('000 tonnes capacity)
- Financial Results
- Table: Financial Results - Major Petrochemicals Companies, 2011
- Global Oil Products Price Outlook
- Table: BMI Oil Price Forecasts, 2011-2016
European Petrochemicals Overview
Turkey Market Overview
- Market Evolution
- Table: Turkey's Petrochemicals Sector - Cracker Capacity, 2008-2014 ('000tpa)
Industry Trends And Developments
- Projects And Expansions
Petrochemicals Risk/Reward Ratings
- Table: Central And Eastern Europe Petrochemicals Risk/Reward Ratings
Industry Forecast Scenario
- Table: Turkey - Petrochemicals Sector, 2009-2016
- Table: Turkey - Economic Activity, 2011-2016
- Turkish Petroleum Refineries Corporation (Tupras)
Glossary Of Terms
- Table: Glossary Of Petrochemicals Terms
- How We Generate Our Industry Forecasts
- Chemicals And Petrochemicals Industry
- Cross Checks
- Business Environment Ratings
- Table: Petrochemicals Business Environment Indicators And Rationale
- Table: Weighting Of Indicators
Country Snapshot: Turkey Demographic Data
- Table: Turkey's Population By Age Group, 1990-2020 ('000)
- Table: Turkey's Population By Age Group, 1990-2020 (% of population)
- Table: Turkey's Key Population Ratios, 1990-2020
- Table: Turkey's Rural And Urban Population, 1990-2020
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