CHEMICAL INDUSTRY TRENDS 2016
Chemical industry in Kazakhstan is a priority and diverse sector that provides raw materials and resources for many other industrial, agricultural and service sectors. The main advantages of the chemical sector in Kazakhstan include: significant reserves of energy, water and natural resources that form the basis for the development of the chemical sector, large and fast-growing domestic market, that is currently supplied by imports, extensive experience in production of several sub-groups of the chemical industry, stable macroeconomic environment, favorable background to attract foreign investment, geographical proximity to China and other fast-growing markets for chemicals. Large commodity stock, coupled with a significant demand both domestically and abroad, create a favorable framework for the development of the chemical industry in the short and long-term perspective. However, while Kazakhstan is abundant in mineral and hydrocarbon resources, including significant reserves of phosphate, chromite, sodium salts, the country suffers from several disadvantages. According to the Kazakhstan’s Ministry for Investments and Development, chemical industry is using outdated equipment and technologies, which limit the ability to produce goods with high added value, such as specialized and consumer chemicals.