At the 60th Agenda Meetings of Türkiye İMSAD, 2024 was evaluated and 2025 projections were discussed

Tayfun Küçükoğlu, Chairman of the Board of Directors of Türkiye İMSAD: ‘The concept of being a self-sufficient country has become a priority again

The 60th Agenda Meetings organised by Türkiye İMSAD were held under the title ‘2024 Evaluation - 2025 Expectations’. Delivering the opening speech of the event, Tayfun Küçükoğlu, Chairman of the Board of Directors of Türkiye İMSAD, said: ‘As the construction materials industry, we anticipate that our total volume will reach 140 billion dollars in 2024. We observe that our construction materials industry is developing under 6 main influences. We can list them as urban transformation, new housing production, earthquake zone needs, infrastructure investments, renovation / renovation needs and export activities.

Agenda Meetings, organised for the 60th time by Türkiye İMSAD (Turkish Construction Material Industrialists' Association), was held online on Friday, 13 December 2024 with the contributions of Demirdöküm and GF Hakan Plastik. The meeting, whose opening speech was delivered by Tayfun Küçükoğlu, Chairman of the Board of Directors of Türkiye İMSAD, was followed with interest by construction material industrialists, names from the business world and sector professionals. The meeting, which was held under the title of ‘2024 Evaluation - 2025 Expectations’, was moderated by Ferdi Erdoğan, Deputy Chairman of the Board of Directors of Türkiye İMSAD, while Dr. Can Fuat Gürlesel, Economic Advisor of Türkiye İMSAD, and Economist Prof. Dr. Kerem Alkin took part as speakers.

Tayfun Küçükoğlu mentioned the following in his opening speech regarding the road map they will follow in 2025: ‘New polarisation trends, trade wars, commodity nationalism, and the deepening of the effects of economic forces on other countries have reintroduced the concept of being a self-sufficient country, which was removed from our agenda years ago. In other words, the dependency of countries has the potential to become a more critical obstacle to independence and development. For this reason, it is of strategic and critical importance for our country that our sector is independent and contributes to the development of the country. Therefore, as Türkiye İMSAD, we are responsible and aware of the fact that we will play a more critical and important role in the second 40 years ahead with the experiences we have gained from the past 40 years.‘’ 

Sharing his predictions, Küçükoğlu said, ‘We completed 2023 with a total volume of more than 130 billion dollars, of which 102 billion dollars was domestic market and 29 billion dollars was exports. On the other hand, we became the world's seventh largest exporter of construction materials in 2023. We anticipate that our total volume will reach 140 billion dollars in 2024. We see that our construction materials industry has developed under 6 main influences. We can list these as urban transformation, new housing production, earthquake zone needs, infrastructure investments, renovation/renovation needs and export activities.’

‘’Energy efficiency and sustainability are among our prioritised agendas‘’

Drawing attention to global developments at the meeting, Ferdi Erdoğan, Deputy Chairman of the Board of Directors of Türkiye İMSAD, said: ‘Global issues such as the US-China trade war, Europe's economic difficulties, China's rise in chip production and America's reaction to it, and the future of Syria in our region affect us significantly. On the other hand, critical topics such as energy efficiency and sustainable growth are also on our agenda as a priority.

‘Turkey has a strategic position in energy diversity and logistics projects

Economist Prof. Dr. Kerem Alkin, one of the speakers of the meeting, made the following statements about the economic and political processes to be experienced in the world in 2025: ‘The coming year seems to be a period full of uncertainties in terms of US policies and global economic balances. Issues such as Trump's second presidential term, trade policies and BRICS countries' search for an alternative to the dollar will also be effective. China's leadership in chip production and its control over critical minerals are intensifying trade wars. In order to limit China's influence, the OECD is trying to direct standardisation and infrastructure investments through initiatives such as the ‘Blue Dot Network Project’. Turkey can play an important role in these projects. In addition, the reconstruction of Ukraine and Syria offers great opportunities in terms of both financing and the construction sector. Turkey has a strategic position in energy diversification and logistics projects.

We have the opportunity to become a stronger actor in energy co-operation and logistics projects with Europe. 2025 will be a year when change accelerates and risks intertwine with opportunities. In this process, it is possible to be effective both regionally and globally with the right strategies.

‘I foresee 4-5 per cent growth in 2025’

Turkey İMSAD Economic Advisor Dr Can Fuat Gürlesel, who shared his expectations for the construction sector, said: ‘In 2024, the construction sector will probably grow by eight per cent. In 2025, I expect at least 4-5 per cent growth. Earthquake zone constructions, urban transformation activities, private sector and public construction projects contribute to the growth of the sector. On the financial side, the tight monetary policy is expected to continue in the first half of 2025 and loosen in the second half. This may provide limited growth contribution to the construction sector. The renovation market is also showing a gradual recovery, and this factor will also provide a limited growth contribution to the construction sector. On the other hand, possible taxes on the real estate and housing sector will have a limiting effect on overall growth.‘’