The Philippine chemical industry has updated its roadmap in response to the preference of the market for sustainable products.
Jeffrey Mijares, executive director of the Samahan sa Pilipinas ng mga Industriyang Kimika (SPIK) said the chemical industry roadmap for 2022-2030 has been replaced by the Philippine Chemical Industry Roadmap 2023-2028.
Mijares said the new roadmap is themed “Enabling Industry Linkages, Sustainability, Safer Materials and Operations, and Productivity,” and spells out the short-, medium- and long-term development plans of the industry over the next five years.
He said there is room for growth and opportunities for the chemical industry.
For instance, he has observed a shift in consumer preference towards sustainable products and nontoxic chemicals.
“The Philippines can take advantage of supplying the missing 70 percent demand of the market, specifically on oleochemicals,” he said.
To uphold sustainability and safer materials and operations, the roadmap is going to promote responsible care (RC), the global voluntary initiative of the chemical industry that commits its management policy to secure and protect the environment, health, safety and security of its stakeholders, said Mijares.
Steps toward this end include capacity building in RC, inclusion of basic RC in higher education programs and curricula, and adoption of RC by all SPIK members.
The Philippine chemical industry is the third largest manufacturing sub-sector, accounting for P510 billion in shares to gross valued added in 2021. This is an increase of 48.07 percent in share to gross value added from 2020, with the growth traced to higher demand brought on by the pandemic.
The industry’s exports were worth $1.344 billion in 2021, and the sector has over 1,400 manufacturing firms employing more than 200,000 workers. Irma Isip
