Chinese companies eye Turkish plastics industry, production rises 8% in 2024
File photo shows workers operating machinery at a plastics manufacturing facility in Türkiye. (IHA Photo)
Türkiye’s plastics industry saw an 8% increase in production in 2024, the Turkish Plastics Industry Foundation (PAGEV) reported. PAGEV Chairman Yavuz Eroglu highlighted the growing interest of Chinese companies in Türkiye’s plastics sector, revealing details of ongoing negotiations.
According to the PAGEV report, plastic goods production reached 9.9 million tons in 2024, with a total production value of $40.9 billion. The average capacity utilization rate in the sector increased from 75.7% in 2023 to 76.1% this year. Meanwhile, plastic goods imports decreased by 2.6% to $4.07 billion, while the industry’s exports, including indirect sales, rose to $15 billion.
Eroglu noted that while Türkiye remains dependent on foreign raw materials, it maintains a strong position in manufacturing finished plastic goods. “We aim to pursue strategic investments with countries that have access to these raw materials,” he said.
Chinese interest in the Turkish plastics industry
Eroglu emphasized Türkiye’s appeal to Chinese investors, citing the country’s robust production infrastructure and export advantages.
“We have held strategic meetings with a Chinese delegation. Chinese companies are facing significant tariffs from both the U.S. and EU countries, pushing them to seek alternative investment locations. We proposed joint investments in Türkiye, and our offer has received a positive response,” he said.
“The first outcome of these talks has already materialized. A Turkish company that produces injection machines has partnered with a Chinese firm to invest in a joint project in Thrace, focusing on manufacturing core casting blocks, a key input for the sector,” Eroglu added.
Meanwhile, Egypt and Gulf countries continue to invite Turkish plastics firms for potential investments, he noted.
Eroglu said industry players are weighing their options carefully. “Despite Türkiye’s limited domestic production of petrochemical products, we maintain a competitive edge in manufacturing finished goods. We must take strategic steps to strengthen our competitive power,” he concluded.
