Slide of the month (SOTM) March. 77% of German chemical companies see a big potential in Africa

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How much untapped potential does Africa possess, according to German chemical industry companies?

According to the current CHEMonitor trend barometer by CAMELOT Management Consultants and the trade journal CHEManager, 77%+ of the managers surveyed from the German chemical industry expect a significant increase in Africa’s standing in the sector. 86% regard Africa as a primary hub for raw materials, while 82% consider the continent a sales market.

Additionally, increased green energy from Africa will significantly contribute to achieving global climate targets. According to 85% of CHEMonitor respondents, Africa will produce enough renewable energy to supply itself and other regions making the continent an important strategic partner for Europe in terms of the successful implementation of the EU Green Deal.

There is still plenty of untapped potential in the chemical segment on the continent. This poses a great opportunity for companies interested in the sector.

Based on these and other findings, africon provides practical recommendations to guide clients in their Africa strategy. The chemical industry is one of the key sectors for africon, with more than 35 projects executed during the last years.

What is the potential for you in Africa? If you have any questions, contact us at info@africon.de.

Read previous SOTMs (Slides of the month) here

Slide of the month (SOTM) February. Green hydrogen opportunity in Africa

Slide of the month (SOTM) January. Africa will install 600 new printing and packaging machines in 2023

Slide of the month (SOTM) December. Opportunities in the automotive manufacturing sector in Africa

Slide of the month (SOTM) November. Number of trade fairs in Africa

Slide of the month (SOTM) October. Automotive battery markets in Africa

 

Slide of the month (SOTM) November. Chemicals application sectors in Nigeria

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Africa‘s chemical industries have experienced enormous growth over the past decades. Though at a smaller scale, various markets in Africa offer substantial market opportunities for global chemical companies. One of them is our client for this project.  

Taking a certain set of chemicals in our client‘s portfolio, the project objective was to identify the most interesting countries on the continent, as well as the key application industries and important potential customers. After a targeted industry analysis across various countries, africon was able to provide a detailed market sizing and competitive analysis, leading to a comprehensive prioritization of countries and industries, along with recommended routes to market.  

Despite being hampered by its recent recession, the Nigerian market partially shown here emerged as an important country on the list, even though countries like Egypt and Kenya currently rank partially significantly higher than “Africa‘s giant“.