14 March 2013 16:20 [Source: ICIS news]
AMSTERDAM (ICIS)--Turkish polyethylene terephthalate (PET) film demand is set to grow by 6.8% per year between 2012 and 2017, a PET film producer said on Thursday.
Turkey’s projected demand growth is more than double that of the wider European market - excluding Turkey – which is predicted to expand by 3.3% over the same period.
The Turkish market saw demand growth of around 9% per year between 2007 and 2012, according to Amit Prakash, general manager of Polyplex, speaking at the ICIS PET Value Chain Conference in Amsterdam.
Total demand for PET film in Europe in 2013 is estimated at 270,000 tonnes/year, of which Turkey accounts for 30,000 tonnes/year.
On the supply side, Turkish domestic production capacity is put at 138,000 tonnes/year, against capacity in the rest of Europe of 153,000 tonnes/year, he added.
The largest demand sector in Turkey is packaging, where growth has been driven by the rise in per capita incomes, urbanisation and exports to Europe, the Middle East and Africa, Prakash said.
In addition, PET films have taken packaging market share from polypropylene (PP) and polyvinyl chloride (PVC), he added.
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