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Oil and Gas, Construction and Agricultural Chemicals Set to Win as Angola Battles Against Poverty Says Frost & Sullivan - Local production of chemicals needs to be encouraged
Oil and Gas, Construction and Agricultural Chemicals Set to Win as Angola Battles Against Poverty Says Frost & Sullivan

 

NewswireToday - /newswire/ - Cape Town, South Africa, 2011/05/09 - Local production of chemicals needs to be encouraged.

   
 
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The oil and gas, construction, base and agricultural chemicals segments will drive the surging demand for chemicals in Angola. The oil and gas sector will be the mainstay of the country's economy and will be the largest end user of chemicals in Angola. At the same time, infrastructure development will increase demand for construction chemicals, while government plans to diversify the economy, by developing other sectors, such as agriculture, is most likely to boost demand for agricultural chemicals.

New analysis from Frost & Sullivan (chemicals.frost.com), Uncovering Growth Opportunities in Angolan Chemicals Market, finds that the market earned revenues of over $2.0 billion in 2009 and estimates this to reach over $6.5 billion in 2016. The research covers the following chemical segments: base, agricultural, specialty, consumer, construction and oil and gas chemicals.

"The future of the Angolan chemicals industry lies within the oil and gas sector, which will be extended to the construction and agriculture sectors in the long- run," notes Frost & Sullivan Chemicals, Materials and Food Research Analyst Naila Govan-Vassen. "Efforts at rural and urban rehabilitation, paralleled by the development of the agriculture sector, will fuel demand for chemicals."

Apprehensions related to the high cost of investing in the Angolan chemicals market are being overcome by government plans to develop the agriculture and manufacturing sectors. The issue of 10-year work permit visas, the provision of investment incentives outside the province of Luanda including exemptions from capital income tax, industrial tax and from paying duties on equipment are set to support the development of both the economy and of related chemicals market.

However, entering the Angolan market will not be an easy task due to the rising costs involved in conducting business. This, together with high living costs, non-existent manufacturing infrastructure, congested ports and the absence of law and regulations enforcement will create obstacles to market entry.

Potential investors will also need to contend with the lack of potable water and power supply. Promisingly, however, many investors have found different solutions to overcome these challenges in order to succeed within the Angolan chemicals market.

"The Angolan chemicals market is driven by a network of distributors that import and supply to end users," adds Govan-Vassen. "Chemicals manufacturing infrastructure is almost non-existent, resulting in high reliance on imported chemical products."

In addition, the slow release of merchandise in the port in Luanda and the poor service quality add to the difficulty of conducting business. The lack of law enforcement and business regulations has led to an increase in corruption, creating an uncomfortable work environment.

In general, understanding market dynamics, supply chain structure, identifying the right target market and taking advantage of government incentives are important steps to enter this market. The oil and gas sector demands a substantial amount of chemicals, even as other chemical sectors such as construction, base, specialty and agriculture also grow. These represent the new investment opportunities within the chemical industry in Angola.

"Given the current demand from various sectors, there is a need to promote local production of chemicals," advises Govan-Vassen. "Angola needs to rapidly devise solutions to address ongoing water and power shortages in order to encourage the development of chemical manufacturing facilities. This will decrease the level of imports and, in turn, reduce poverty levels by boosting employment."

Uncovering Growth Opportunities in Angolan Chemicals Market is part of the Chemicals, Materials & Food Growth Partnership Service programme, which also includes research in the following markets: South African Market for Construction Chemicals, South African Industrial Paints and Coatings market, Strategic Opportunities for the Biofuel Industry in Key Sub-Saharan African Countries and Key Sub-Saharan Crop Protection Chemical Markets. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.

About Frost & Sullivan
Frost & Sullivan (frost.com), the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents.

Uncovering Growth Opportunities in Angolan Chemicals Market / M67C

 
 
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Oil and Gas, Construction and Agricultural Chemicals Set to Win as Angola Battles Against Poverty Says Frost & Sullivan

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