The commercial industrial gases market in Turkey is estimated to have generated revenues of $320 million in 2014. This is up from $104 million in 2004, indicating a rather impressive average annual growth rate of 11.9% for the decade.
The leading industrial gas company is Habas, a local company with interests across many different industrial sectors. In recent years, Linde’s Turkish business has been gaining momentum and is occupying a growing share in the nation’s market. Beyond Linde, both Messer and Air Liquide have a significant presence in the country. The latter company in particular has, in very quick order, built up a sizeable onsite business.
There is no one dominant end-use sector for industrial gas in the country. The metallurgical sector accounted for approximately 22% of total sales, mostly related to gas provided in support of various steel producing and fabrication sites. The manufacturing sector accounted for approximately 21% of sales, mostly related to sales of oxygen, acetylene and welding gases for cutting and welding operations – indicative of a fairly high level of manufacturing activity in Turkey.
Chemical and refining clients combined accounted for 22% of total sales. This mainly related to sales of nitrogen (both bulk and onsite gas) as well as special gases and helium for calibration purposes and leak-testing.
The food and beverage sector accounted for a further 15% of revenues, while healthcare end-users accounted for around 8% to 9% of revenues.
We do not expect any major shifts in revenue streams by end-use sector, although perhaps a growing share of sales will be made within the refining and petrochemical industries. Nonetheless, a high level of activity within the manufacturing and metallurgical sectors is to be expected also.
Within the 2015-2020 timeframe, accordingly, our forecast models predict growth from 6.0% p.a. in a low scenario to 6.7% p.a. in a high scenario. This should see the industry in Turkey achieve revenues of between $452 million to $470 million by 2020.
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