Overview of the plastic and rubber manufacturing market in Turkey
Extensive research carried out by the analysts at Technavio has shown that the plastic and rubber manufacturing market will witness steady growth and will post a CAGR of more than 5% over the forecast period. The augmented demand for plastic from European countries is one of the primary factors impelling the growth prospects for this market in the coming years. Although manufacturers in Turkey import the majority of the raw materials used for the production of plastic and rubber, the demand from Western Europe for intermediate or semi-finished products is high. This has resulted in the manufacturers focusing on the export of semi-finished products to countries in Western Europe, which will aid in the growth of the plastic and rubber manufacturing market in the country.
The plastic and rubber manufacturing market in Turkey is witnessing increasing consolidation through acquisitions. Foreign companies are investing in JVs with indigenous manufacturers, thereby providing such manufacturers with state-of-the-art technology, better financial resources, and potential growth opportunities in the market. For instance, Greiner Packaging International, a German company, acquired nearly 51% stake in Teknik Plastik and Teknik IML of the Ozata Group. Such mergers and acquisitions are likely to drive this market’s growth over the next four years.
Segmentation by product type and analysis of the plastic and rubber manufacturing market in Turkey
Plastic plates, sheets, tubes, and profiles
Plastic packaging goods
Builders’ ware of plastic
During 2015, the plastic plates, sheets, tubes, and profiles segment accounted for more than 28% of the market shares in terms of revenue. Industrial plastic products are being increasingly used in packaging and construction applications. The major end users of plastic packaging products are spread across sectors such as F&B, pharmaceuticals and healthcare, and chemicals. The non-reactive nature and lightweight properties of plastic products will boost this market segment’s growth.
Competitive landscape and key vendors
The plastic and rubber manufacturing market in Turkey is characterized by the presence of a large number of regional and international manufacturers. A large number of international manufacturers are entering the market owing to the incentives being offered by the government of Turkey. These international manufacturers are posing a challenge to the regional manufacturers in terms of aspects such as quality, technology, and pricing. The market is witnessing growing consolidation with an increasing number of foreign manufacturers recognizing the growth potential of this manufacturing sector in Turkey.
Key vendors in this market are -
Plas Plastik Packaging
Plaset Plastic Packaging
Super Film Ambalaj
Uniplast Plastik Yapi Elemanlan
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the plastic and rubber manufacturing market in Turkey?
What are the key market trends impacting the growth of the plastic and rubber manufacturing market in Turkey?
What are the challenges to market growth?
Who are the key vendors in the plastic and rubber manufacturing market in Turkey?
What are the market opportunities and threats faced by the vendors in the plastic and rubber manufacturing market in Turkey?
What are the trending factors influencing the market shares of Turkey?
What are the key outcomes of the five forces analysis of the plastic and rubber manufacturing market in Turkey?
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