The value-added Turkish chemicals industry is one of those that have been able to raise their standards and it can count on some steady foreign investment. The industry is fundamental to Turkey’s overall industrial development and has been able to work on its comparative advantages as well as define its goals for the future.
Certain natural attributes and new prospects have structured the chemicals industry into the form it takes today. Turkey’s natural reserves of soda ash, chrome and boron have helped to create advantages by supplying valuable raw materials. The speciality pharmaceuticals, paints and coatings industries have also performed well in terms of production capacity and exports. However, the industry still depends heavily on imports for both raw materials and more advanced technological requirements, with its import/consumption ratio steadily increasing, from 40% in 1990 to 55.5% in 2003. Niche product specialization and foreign investment have become the ultimate solutions to Turkey’s chemical dilemma.