Worldwide sales of chemicals have more than doubled in the past decade, mainly due to emerging markets, which accounted for about 80 percent of new chemical production capacity.
Chemicals sales in Turkey have closely followed this global trend over the past decade. Turkey, with its robust market growth driven by retail markets and competitive production costs, is an attractive investment destination for chemical companies. Turkey is also a regional production, administrative and export hub for leading brands in the chemical industry. Chemical giants such as BASF, Henkel, Bayer, Evonik, Linde, P & G, PPG and Dow have been producing in Turkey for decades and have continued to grow over the years.
Another strength factor is the sustainable growth of the customer segment in Turkey. Turkey is the largest commercial vehicle manufacturer in Europe, the 17th largest automobile manufacturer in the world, the seventh largest agricultural producer in the world and the largest textile producer in Europe, accounting for 3 percent of global exports.
As part of the urban transformation project in Turkey, it is estimated that around 6.5 million residential units nationwide will be demolished and rebuilt in the next 20 years. Thus, the Turkish construction industry, which is valued at USD 60 billion, is one of the country's fastest growing retail markets for the chemical industry.
Another promising area in the Turkish chemical industry is the plastics industry, which accounts for almost 3 percent of global plastics production. This makes Turkey the second largest manufacturer of plastics in Europe and the seventh largest producer worldwide. The paint industry also offers opportunities for investors. Here, Turkey ranks fifth in Europe.
Turkey is the second largest net importer of petrochemicals in the world after China. The significant gap between the capacity and consumption of petrochemical products offers ample opportunities for local and foreign investors. There are also lucrative opportunities for investors in neighboring countries, which they can use to benefit from Turkey's strategic location and excellent infrastructure. The consumption of petrochemicals in surrounding markets such as Europe and MENA accounts for one quarter of total consumption worldwide.
The combination of a growing economy, large domestic market, advanced infrastructure, skilled and competitive workforce and investor-friendly legislation will allow investors in the Turkish chemical sector to generate long-term returns on their investment in one of the world's most promising emerging markets
COUNTRY, CITY, REGIONS
▸ Company Locations and Countries
Turkey - Istanbul
1. Region Mediterranean Region 2. Eastern Anatolia region 3. Aegean region 4. Southeast Anatolia region
5. Central Anatolia region 6. Black Sea region
7. Marmara region