Frost & Sullivan Announces The Future Of Chemical Companies In South Africa
Margot Kuhn Chemicals, Materials & Food Industry Analyst at Frost & Sullivan
Avril Harvey Chemicals, Materials & Food Senior Industry Analyst at Frost & Sullivan
In a world of emerging technologies, chemicals companies need to diversify beyond their current scope to remain competitive and secure their position in the African and global chemicals markets. A strategy incorporating further diversification and growth by acquisition into alternative chemicals markets is needed by chemicals companies, as well as extending the geographic footprint to offset slow economic growth in their traditional markets.
"Chemical companies in South Africa need to offset slow growth by increasing their footprint across the rest of Africa," said Principle Research Analyst at Frost & Sullivan, Brian Balmer. "A strategy to diversify is also needed to secure their future in the African market, as the chemicals industry is set for change- for example mitigating the long-term risks of technology disruptions to the mining chemicals industry."
SOURCE: Frost & Sullivan