The goal of the Philippine chemical industry is to transform the country's basic resources into a wide range of high-value products and serve the domestic and global market demands with the greatest customer value. It is committed to attracting, developing and retaining the best talents who will be at the forefront of product and process innovation while adhering to the principles of sustainable development and responsible care. Through continuous improvement of products and processes, China will achieve sustainable growth, thereby contributing to China's inclusive growth and socio-economic development.
The industry has agreed to pursue its vision, emphasizing the following goals: (1) Create a wide range of products with the best customer value; (2) Meet domestic demand and become a major contributor to the Philippines’ export basket; (3) Promote high levels of labor productivity (4) Continuous innovation in products and processes; (5) Sustainable development and management of chemical suppliers, protecting the natural assets that the industry depends on; (6) Becoming a competitive industry, bringing benefits to the Philippine economy and the Philippine people.
The industry is expected to become a major player in the region by 2016. By 2022, China will become a major exporter, and by 2030, China will gain a firm foothold in the global market.
In order to achieve these goals, the industry seeks to implement the three-gear recommendation of the following pillars: (a) the creation of the Engineering and Science Advanced Technology Project (EnSAT) to develop the technical and scientific skills of Filipinos, and (b) the development of legislative policies to improve Based on technology and scientific research, taking into account the entire system of chemical industry operation, (c) establishing chemical industry clusters to make the production of chemical products cost-effective. The government is considered to be the main stakeholder in these three sectors. In these three sectors, the role of the government is to allow the smooth implementation of the activation mechanism of the recommendation plan.
The chemical industry is a highly diversified industry that includes raw materials such as petroleum, water, air, and minerals. These raw materials are converted into various substances for use by other chemical companies, manufacturers in other industries, and other consumers. It has extensive connections with other industries, including agri/agribusiness, automotive, cement, creativity, construction, energy, fisheries, health, housing, and pharmaceutical industries.
In 2010, the global chemical industry's output value reached US$4.12 trillion, and the Philippine chemical industry will contribute to the growing demand of the world economy. The goal of Samahan sa Pilipinas ng mga Industriyang Kimika (SPIK, or Philippine Chemical Industry Association) is to further develop the industry in the next 17 years, giving priority to the following sub-sectors: purchasing products, petrochemicals, petrochemicals, inorganic chemicals, agrochemicals Research and development of products and fertilizers, consumer care products, and chemicals.
The future of the chemical industry is bright. One of the main advantages of investing in the Philippines is its young population. The median age of the population of the Philippines is 23 years old and the population is 92.3 million. The characteristics of its demographic structure show that the Philippines has a huge domestic market and a strong human resource base. These young people are also spending more and more on health care and housing needs. More importantly, Filipinos are open to eating organic herbs and consumer products. This consumer behavior provides a promising market foundation for pharmaceutical, personal care, cleaning materials, coatings and other chemical companies. Similarly, the country’s rich natural resources provide a rich and cheap source of raw materials. These raw materials can be processed to produce valuable chemicals such as lauric acid.
Given the potential of developing coconut-based chemicals and other petrochemical products in the country, SPIK aims to promote research and development through cooperation between companies. In order to support the innovation capabilities of small and medium enterprises in this industry, SPIK aims to promote technology transfer between them and large companies, especially in consumer care chemicals. Finally, SPIK seeks to strengthen its sustainability and environmental protection practices by increasing its members’ compliance with the “Responsible CareTM” global initiative by 75%.