US PVC loses up to 50% market share in Turkey
Import demand from Turkish buyers has been steadily falling since last year. The overall PVC imports retreated by 9% last year while the drop of the first quarter of this year was around 16% on a yearly basis. However, the decrease in PVC imports from the US was larger at around 50%, which is also affirmed by traders who sell this origin in Turkey. The cumulative imports from the US recorded in the first three months of this year also indicate the lowest levels of the past 8 years.
This large slump in market share caused the US to be dethroned from being the top import supplier of Turkey. After sitting at the top of the list for almost a decade, US dropped to 4th place and fell behind France, Mexico and Spain as the first three largest suppliers.
Players attribute this situation to a few factors. Falling end product exports of Turkish PVC converters to non-European countries is cited as the main reason. In addition, the slower economic growth of the country has already made itself felt on the overall PVC demand. The revised antidumping duties from $45/ton to 18.81% are also considered to have played a role in the larger loss of the market share of the US by some players.
Meanwhile, PVC exports from the US to the EU spiked 63% in 2015 on a yearly basis, according to ChemOrbis Import Statistics.
You can visit ChemOrbis Import Statistics by product and ChemOrbis Import Statistics by country to view and compare exact import figures on a yearly and monthly basis in further detail. You can also run your own graphs and make yearly, quarterly and monthly comparisons for different countries in ChemOrbis Stats Wizard.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- China’s local PVC market retreats from 8-month high
- Initial June PE offers to SEA signal firming despite buyers’ resistance
- Firming in ethylene lags behind propylene in Europe
- PET rally stalls in China after prices hit four-and-half-year high
- Asian PS retains firming path on supportive upstream
- June PE outlook under discussion in Europe
- Taiwanese major lowers June PVC offers to Asia despite firm China
- Local PP markets cautiously firmer in Vietnam, Indonesia
- Global ethylene prices continue to defy energy rally
- China’s import polyolefin markets up on soaring crude, futures