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The most profitable to produce chemical products in Kazakhstan have been identified

DOWNSTREAM CENTRAL ASIA AND CASPIAN

The most profitable to produce chemical products in Kazakhstan have been identified

Samruk-Kazyna Ondeu presented their development strategy to lead them to 2032 in Astana. The forum brought together more than 100 experts who discussed the current situation and prospects for the Kazakhstani chemical industry, the Samruk-Kazyna press service reported.

Source: Forbes Kazakhstan

Experts noted that the chemical industry makes up only 1% of the country's GDP. Since 1991 the industry's total value contributed to the economy has halved. Kazakhstan's annual demand for chemical products is estimated to be 1.7 trillion tenge, however, 75% of this demand is met through imports. At the same time, worldwide this particular industry is growing faster than others, by an average of 3% per year. One job in the chemical sector creates 7 additional vacancies in related industries.

Whilst preparing the strategy, 814 chemical products were analysed within parameters such as demand within the Republic of Kazakhstan, the potential for import substitution, and external demand in export markets. As a result a "long list" of 130 chemical products that benefit Kazakhstan was formed.

Samruk-Kazyna Ondeu stated

Then a short list was compiled of the 15 most optimal strategic products for Kazakhstan, on the production of which the company will focus. The list includes such products as urea, monoammonium phosphate (MAP, diammonium phosphate (DAP), ethylene glycol, methanol, sulfuric acid, and hydrogen peroxide.

In total the list includes:

4 agricultural chemistry products;
4 petrochemical products;
7 special chemistry products.

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