Stats: Türkiye’s overall polymer imports snap five-year growth in 2024

Cumulative polymer imports of Türkiye fell short of the 2023 record, data from ChemOrbis Stats Wizard PRO revealed. The overall volume dropped slightly below the 6-million-ton threshold in 2024 after reaching a record 6.3 million tons the previous year. This also marked the end of a long uptrend that had been ongoing since 2019. Meanwhile, Saudi Arabia and the US faced fierce competition for the top spot among Türkiye’s suppliers last year, followed by South Korea, Russia, and Egypt.

The value of total polymer imports, including PP, PE, PVC, PS, ABS, EPS, and PET decreased to $7 billion last year from $7.2 billion in 2023, data suggested.

Total PP imports down by 3.5% on year

In 2024, the combined homo-PP and PP copolymer imports represented a 3.5% drop from 2023. Also, the value of cumulative imports was down by 2.5% to $2.9 billion year over year. Imports of PPH were down by 5.5% from the previous year, with their total value barely changing at $2.2 million. Copolymer volumes rose by nearly 6% year on year, with their value also soaring by 10%.

Top PE suppliers see losses in market share

The overall PE imports decreased by almost 5% while the total value receded to $2.5 billion from $2.7 billion recorded in 2023. Saudi Arabia, the US, and Iran respectively held the first three places in the list of largest suppliers. Yet, they all faced some losses in their market shares as global capacity additions triggered tough competition among global sellers in export markets.

LDPE imports rose in 2024, while volumes from Spain rose visibly amid economic lethargy in Europe and favorable €/USD currency. This put the country in second place in the list of top suppliers as compared to ninth place in 2023. Overall, LLDPE imports rose versus lower HDPE volumes last year.

PVC imports down more than 10% yearly

The cumulative PVC imports posted a visible decline of 13% during 2024 while the value also slid to below $7 million and pointed to the lowest figure since 2020. Meanwhile, South Korea saw its share fall by 4% year on year, putting the country in sixth place from the fourth in 2023 in the list of Türkiye’s biggest suppliers. This was partially due to elevated freight rates that hammered imports from Far East Asia during the first half of 2024.

Combined PS and EPS imports slump, ABS follows suit

The cumulative PS and EPS imports slumped by 16% from 2023. The value of combined imports also decreased by 15%. ABS imports recorded a more modest drop of 5% from the previous year, with Saudi Arabia rising to second place in the list of top suppliers amid a 1% gain in its market share.

PET imports soar despite comfortable domestic supply

Meanwhile, combined imports of PET bottle and textile chips saw a sharp increase in 2024. The total value of imports reached $217 million, up more than 40%. China, Malaysia, and India remained the biggest suppliers for another year. Shifting focus from bcf fibre to polyesters likely contributed to the surge in import volumes.

For detailed figures on tonnage and more, visit ChemOrbis Stats Wizard Pro.