Turkey Petrochemicals Report Q1 2015: New research report available at Fast Market Research

Domestic polymer markets experienced a downturn in Q414 and there are many downside risks in the short-term, but BMI's latest Turkey Petrochemicals Report does not envisage investment programmes being knocked off course in the long-term.

The import dependent market ensures that Turkey will remain a significant polymer market, but demand trends will influence the performance of imports. But as an export-oriented industrial producer, the performance of the EU market will be crucial to the structure and dynamism of petrochemicals demand. As such, a slowdown in the EU will have knock-on effects on Turkish imports.

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The rate of growth on the Turkish petrochemicals market will probably remain subdued, particularly if the eurozone's lacklustre performance continues. The major depreciation in the lira is making the cost of foreign credit prohibitively high and raising the cost of imports, which will pose a downside to domestic market activity.

We expect growth in Turkey's construction sector to moderate in future owing to weaker economic performance, with the potential for a slowdown in the residential market also. We are maintaining our construction industry value real growth forecasts for Turkey, which see 5.3% and 5.8% growth in 2014 and 2015 respectively.

We are forecasting significant growth in the Turkish autos sector. 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 which should stimulate a range of products.

We are bullish on the country's autos exports outlook as a number of auto manufacturers have invested to export outside of Europe. A number of international auto and supply manufacturers have recently invested in the country, in line with our bullish stance. 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.

The fundamentals of Turkey's...

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.

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