Turkey Automotive Plastic Compounding Market Report

Turkey Automotive Plastic Compounding Market Analysis By Product (ABS, PP, PU, PVC, PE, PC, PA, TPE), By Application (Instrument Panels, Door Systems, Interior Components, Exterior Fascia, Under The Hood Components), And Segment Forecasts, 2014 - 2025

Published: February 2017  |  94 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-765-0

Industry Insights

Turkey automotive plastic compounding market size was USD 194.8 million in 2015. The country is expected to witness significant growth over the forecast period as a result of increasing lightweight composites consumption in vehicular components to foster fuel savings. Attractive investment opportunities offered by rebounding economy has led to increased FDI in the country, especially in the chemicals & plastics sector.

Increasing use of thermosets and thermoplastics in automotive component manufacturing is a key factor anticipated to fuel industry growth. Integration of electronics in automobiles has led to high demand for plastics in instrument panels with integrated high-end electronic devices. Plastic compoundss offer high safety & electrical insulation when compounded with additives, thereby being prefered over base resins.

Automobile manufacturers are increasingly resorting to various means in order to improve fuel efficiency and meet regulatory standards. Plastic compounds present ample opportunities in this field, owing to their diverse nature, high performance attributes, light weight, low fabrication costs, material compatibility, functionality and other properties that make them suitable for automotive applications.

In 2013, Turkey was the leading plastics exporter among EU-27 member nations and was ranked 5th in plastics processing. Domestic players such as Epsan Plastic and Maskom Masterbatch have announced capacity expansions in order to cater to the rising demand from Turkish automotive industry.

Turkey’s automotive industry is expected to witness tremendous growth in the near future, despite the slowdown and stagnation prevailing in the European automotive sector. The country’s automotive sector is witnessing escalating investments, facility upgrades, and rapid model additions, positively influencing plastic compounding industry.

The Turkish Industry & Trade Ministry has also insourced numerous incentive schemes to encourage production of eco- friendly automobiles that are lightweight and consume less fuel or are completely electronic. Increasing consumption of advanced polymers to reduce overall vehicle weight coupled with government support is expected to positively influence industry growth

Currency weakness and crude oil vitality are expected to remain concerns for the industry participants, with several traders expecting short-term demand shocks owing to lingering uncertainty. Additionally, polymer manufacturers are likely to witness supply disruptions from key importing countries owing to worsening political conditions with the recent ‘Brexit’ crisis in Europe.

Turkey automotive plastic compounding market by product, 2014-2025, (USD Million)

Turkey automotive plastic compounding market

Product Insights

Polypropylene (PP) was the leading product segment and accounted for over 30% of the overall market in 2015. The product exhibits superior characteristics such as sheer ruggedness, high durability, outstanding chemical & solvent resistance among other factors. PP is utilized in several automotive parts such as seating, dashboards, fuel systems, interior & exterior trim, electrical components, lightings, upholstery & liquid reservoirs.

Polycarbonate (PC) is expected to witness significant demand on account of its high consumption in various industries such as optical media, electrical & electronics, consumer & automotive. PC is polymerized through condensation or melt process & possess versatile properties.

Application Insights

Interior components are anticipated to remain the dominant application segment, occupying over 37% of Turkish market volume in 2015. Increasing consumer preference for soft touch materials with sustainable benefits such as reduced fuel consumption, are major driving factors for segment growth.

Turkey automotive plastic compounding market share, by application, 2015

Turkey automotive plastic compounding market

Exterior fascia emerged as the fastest growing application segment owing to high demand for aesthetic plastics that are lightweight, versatile and low cost options for bumpers & liners. Instrument panels are also a relatively fast growing application, since plastics allow production of complex designs and large, integrated panel pieces.

Competitive Insights

Key companies include Petkim Petrokimya Holding A.S., Alfa Gamma Plastic Innovation, Tisan Engineering Plastics, Elastron, Eurotec Muhendisilik Plastikleri (Interplast), Emas Plastics, and Pimar Plastics. Other industry participants include Epsan Plastik, Maskom Masterbatch & Compound Technologies, Albis Plastic, Tosaf Group, A. Schulman, Lanxess, PolyOne Corporation, LyondellBasell Industries N.V., Kingfa, SABIC, Ravago, and Polytek Development Corp.

Major companies such Tisan Engineering Plastics are integrated along the value chain, to supply plastic products to numerous countries including Turkey. These companies gain a significant competitive advantage in terms of production and logistics, enabling them to reduce customer delivery times while improving the communication channel that allows critical feedback to reach manufacturers.

Report Scope

Attribute

Details

Base year for estimation

2015

Actual estimates/Historical data

2014 & 2015

Forecast period

2016 - 2025

Market representation

Revenue in USD Million & CAGR from 2016 to 2025

Country scope

Turkey

Report coverage             

Revenue forecast, competitive landscape, growth factors and trends

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Segments covered in the report

This report forecasts volume & revenue growth and provides an analysis on the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the Turkey automotive plastic compounding market on the basis of product, application and region:

  • Product Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)

    • Acrylonitrile Butadiene Styrene (ABS)

    • Polypropylene (PP)

    • Polyurethane (PU)

    • Polyvinyl Chloride (PVC)

    • Polyethylene (PE)

    • Polycarbonate (PC)

    • Polyamide (PA)

    • Thermoplastic Elastomers (TPE)

    • Others

  • Application Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)

    • Instrument Panels

    • Powertrain

    • Door Systems

    • Interior Components

    • Exterior Fascia

    • Under the Hood Components

    • Others

Key questions answered by the report
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