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Chemical Industry in Hungary
Aruvian's R'search, March 2009, Pages: 45
The Hungarian chemicals industry can be broadly classified under two categories - basic chemicals and fine and specialty chemicals. Basic chemicals include petrochemicals and fertilizers. Plastics, rubber, pesticides, detergents and cosmetics form the other category of fine and specialty chemicals.
The Hungarian chemical industry is a part of the larger European Union (EU) chemical industry. The industrys total turnover accounts for about 0.5% of European chemical industry. The Hungarian chemical industry has grown rapidly in the recent years.
Due to limited local demand and diminished trade barriers, Hungarian chemical companies export a significant portion of their production. This has exposed these companies to global marketplace challenges. In order to be competitive, these chemical companies have undertaken improvement initiatives, while reducing costs and headcount.
Aruvian Research analyzes the Hungarian chemical industry in its new report Chemical Industry in Hungary. The report researches the characteristics of the Hungarian chemical industry and the segments which, as a whole, make up this dynamic machinery of growth. The massive globalization and consolidation strides taken by the industry as explained in the report with the requirement of heavy capital investment that brings in more competition and the overall focus of the industry to meet the environmental challenge. The industry’s dynamics like competition, infrastructure and the regulatory policies with the reporting requirements deployed on the industry are explained by the report.
A comprehensive section on the affect of the REACH agreement, which came in to effect from June 1, 2007, on the Hungarian Chemical Industry, sets Aruvian’s offering apart from other reports on the subject. The report also profiles some of the leading players in the industry who have earned the reputation and pride for the Hungarian Chemical Industry globally and have placed Hungary at the top of the pecking order.
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