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Economic 360 for Russia: Growth Prospects and Emerging Opportunities in the Chemical Industry
Frost & Sullivan, July 2011, Pages: 100
Economic 360 Perspective for Russia: Growth Prospects and Emerging Opportunities in the Chemicals Industry is Frost & Sullivan's Country Industry Forecast service, which provides vital inputs for evaluating the attractiveness of a country and its chemicals industry. Apart from enabling decision makers to assess the impact of non-market forces, it also helps in identifying new market opportunities. This service provides a strong base for preparing contingency plans. In addition, investors can assess industry-specific risk factors as well as conduct a more in-depth micro research.
The chemicals industry enjoys the patronage of the Russian Government, as it is one of the pillars of the country's economy. In 2008, the Government released a plan titled ‘The Strategy of the Development of Chemical and Petrochemical Industries till 2015', aimed at modernising the industry. On the back of these efforts, the Russian chemicals industry is gradually developing and the domestic production is forecast to grow. However, Russia lags other European countries in terms of ratification of international conventions and the country's laws need harmonization with the European regulations to intensify trade and ensure consistency in the chemicals industry's turnover and usage.
In 2010, Russia's chemical production output was worth $56.40 billion. The same year, the chemicals and materials market's revenues were split into 73.4 per cent for chemicals production and the remaining 26.6 per cent for the manufacture of plastic and rubber products. The demand in both market segments are experiencing a revival following the easing of the global economic downturn and the increasing domestic demand for highly-processed goods and quality secondary chemicals. The industry presents abundant opportunities in the field of modern chemistry, research, as well as the manufacturing and sales of machines, equipment, semi-finished products, and raw materials. In 2010, the value of the Russian chemicals production had reached $41.40 billion and 60.0 per cent of this sum came from basic chemical products, which included nitrogen and phosphorus fertilizers, other organic chemicals, synthetic rubbers, plastic masses and synthetic tars, and other basic chemicals.
In 2009 and 2010, the prices of feedstock fluctuated considerably and this deterred investments in the chemicals industry. Some sectors, such as fibres of fertilizers, even faced declines. Fortunately, Russia has wide access to raw materials such as oil, gas, and coal. The country's chemicals production outlook seems promising and is forecast to grow annually at 18.7 per cent till 2014. Meanwhile, the total value of the plastics and rubber products output in 2010 reached $15.00 billion and its average annual growth rate from 2004 to 2014 is expected to be 21.2 per cent; this means that by 2014, the market would have doubled in size. The plastic and rubber products are widely used in the construction, automotive, consumer goods, and packaging industries as well as in new applications such as geothermal energy generation systems.
Benefits
The following benefits are offered by this research:
- Identifying New Market Opportunities
The future trends and developments in the Russian chemical industry have been identified by taking into account the economic environment of the country. The analysis will prove greatly informative to industry participants and stakeholders.
- Understand Future Industry Trends
This research service gives great insights into the economic developments and the trends in the Russian chemical industry. The economic climate, industry and infrastructure developments will give greater information about the dynamics of the industry.
- Comprehend Policy and Economic Environment
An analysis of the dynamics of economic growth in Russia provides tremendous insights into the economic parameters that will influence the chemical industry. Industry performance is closely related to the level of economic growth and the structural dynamics of the economy are revealed to provide invaluable insights to industry participants.
- Evaluate Industry Segment Potential
This research service focuses on providing an analysis of country and industry trends and will aid companies seeking to enter new geographic markets. The market and economic insights will also prove invaluable to corporate planners in the development of accurate business plans or allocation of resources.
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