The naphtha closing stock in Turkey started at 88.0 thousand metric tons in 2013 and fluctuated significantly over the decade. By 2023, it stood at 143.01 thousand metric tons, showing strong growth particularly from 2020 onward. Looking at the recent years, the year-on-year variations were notably high in 2021 with a 19.2% increase, while 2022 saw a slight decline of 0.7%, and 2023 had a marginal rise of 0.56%. The last 5-year compound annual growth rate (CAGR) was 2.24%. Forecasts indicate a steady growth trajectory with a forecasted 5-year CAGR of 0.34% and an overall growth rate of 1.71% by 2028.
Future trends to watch for include:
- Potential market volatility impacting supply and demand
- Geopolitical factors influencing import and export activities
- Technological advancements in naphtha production and utilization
