Turkchem International Chemical Industry Fair, which is held every two years, opened its doors at Istanbul Expo Center. Speaking at the ‘Recycling and Use of Waste Mineral Oils’ panel held at the fair, Lubricant and Petroleum Products Industrialists’ Association (MAPESAD) President Tayfun Kocak said that the growth of the lubricants industry in Turkiye in the last five years has been approximately 188%, while chemical exports have grown by 71%. Kocak noted that the lubricants industry has achieved a growth above the chemical exports.
WE WENT AHEAD OF MANY COUNTRIES
Saying that lubricants is a sector within chemistry, MAPESAD President Tayfun Kocak said that the top 10 countries that have a say in chemical exports of approximately $3.25 trillion are America, China, Japan and 7 countries of the European Union. Kocak said: “In other words, developed countries are also developed countries in chemistry. Therefore, these top 10 countries have a 61% share in world chemical exports. In Turkiye, between the years 2017-2021, our chemical exports increased by approximately 71% in the last 5 years. In other words, we showed the second biggest development after China’s export of 82%. We care about this figure because we have surpassed countries such as South Korea, India and Indonesia among the countries that have a say in chemical exports.”
Informing that the size of the world mineral oil industry is approximately 14% of the chemical exports in terms of exports, Kocak said, “So there is a world chemical export of 3.25 trillion. There is also a mineral oil export of $463 billion. Therefore, the place of mineral oil exports in world chemical exports is a place to be considered. At the same time, we see that the share of 14% increases every year. The growth in the Turkish lubricants industry is approximately 188% in the last five years. We have achieved a growth above the chemical exports in mineral oil.”
Source: Sabah / Translated by Irem Yildiz