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Development Prospects for the Russian Chemical Industry

    The chemical industry is a key segment of the Russian economy. It determines growth factors for all industrial complexes and creates a foundation for their long-term development. The chemical segment supplies goods almost for all businesses in agriculture, services, trading, cultural and educational spheres, and military-industrial sector. The expansion rate of economy and competitive power of the nation greatly depend on activity in the chemical industry. The ancient Romans said “Ipsae res verba rapiunt” (The things themselves force the words to express them).The article focuses on the recent happenings in the most important Russian chemical sectors – oil chemistry, fertilisers and biofuel, gives hints on short- and long-term opportunities, challenges and hindrances.

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