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Czech Republic Chemicals Report 2009Published by: Business Monitor International Published: Jun. 5, 2009 - 34 Pages Table of Contents
AbstractIndustry OverviewThe chemicals industry is the third largest industry in the Czech Republic and employs about 115,000workers. Basic chemicals constitute 60.5% of the total Czech chemicals industry, followed bypharmaceuticals and related products (making up 10.3% of the total chemicals industry), soapsdetergents, cosmetics and perfumes on 10.3%, other chemicals 4.6%, while man-made fibres andagrochemicals accounted for 1.5% and 1% of the chemicals industry, respectively. Implementation Of GHS The Globally Harmonised System of Classification and Labelling of Chemicals (GHS) - agreed by theUN Economic and Social Council - concerns the harmonisation of safety materials on hazardouschemicals. Although the first publication of GHS guidelines for the Czech Republic is expected in 2009,the regulations will be enforced gradually. The transition period under which the old legislation is phasedout and the new legislation is implemented begins in 2010 for chemical substances (ending in 2015) whilethe start date for chemical preparations/mixtures is 2017. Industry Developments In October 2008 Czech Business News reported that Czech chemical company Spolchemie was planningto build a US$54mn epichlorohydrin (ECH) plant in Malaysia. The facility would be Spolchemie’s firstinvestment overseas and it is expected to be followed by the construction of another ECH plant in theAmericas. There has been strong growth in demand for epoxy resin in recent years, especially inemerging economies. Spolchemie’s Malaysian plant will be ideally located to supply the rapidlyexpanding markets in India and Malaysia. ECH is used as a raw material in the production of epoxyresins, plastics and other polymers. Industry Outlook The chemicals sector is heavily reliant on the economic performance of key markets in the eurozone.Germany accounts for 44% of overseas chemicals sales for the Czech Republic and with the countryfalling into recession, Czech chemicals producers are struggling to maintain orders. The Czech chemicals sector is dominated by producers with an export focus. This means that the industrywill not be able to rely on domestic consumption to replace export losses. Despite this, BMI forecasts thatexports will grow by a compound annual growth rate (CAGR) of 9.66% in 2008-2013. Domesticconsumption, by contrast, is forecast to grow at a CAGR of 3.28%. Get Full Details About This Report >> |
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