The chemical industry is 5.5% of Greek industry but provides 13% of the country’s exports, 44% of the chemicals produced are exported.
The chemical industry is 5.5% of Greek industry but provides 13% of the country’s exports, 44% of the chemicals produced are exported.
Its plants are largely divided between the North Greece region around Thessalonica, responsible for 20% of output and the Central and South Greece region, where the prefectures of Voiotia and Attica account for almost 45% of total output.
Nationwide, the chemical industry employs almost 13,500 people. 1 job in chemical industry is linked to 5,7 jobs of the whole economy. The industry comprises almost 1,000 companies, 99% of them SMEs. A few big companies produce basic chemicals, fertilizers, petrochemicals and polymers. Many SMEs focus upon construction and isolation materials, consumer products and agrochemicals, while a handful of micro-enterprises are active in nanomaterials.
Greek universities train a significant number of chemists and chemical engineers. Some emigrate, but the presence of well-educated scientists should enable the development of further collaboration between universities and industry. Government R&D spending and EU funds together account for 0.8 % of GDP, well below the EU average. It is widely recognized that there is plenty room for improvement.
Restructuring the Greek economy will enhance the competitiveness of the Greek chemical industry as well.
The priority for the coming decade is production of pharmaceuticals, advanced materials, insulation materials and agrochemicals, which are both for domestic consumption and exports.
Greece has important oil refining capacity, a strategic geopolitical location and an outstanding shipping industry that can provide access to natural gas.
Untapped oil reserves are estimated to include 22 billion barrels in the Ionian Sea off the coast of western Greece and more than 4 billion barrels in the Northern Aegean.
Greece has a growing role in the supply of natural gas to Europe. Work has begun on the Trans Adriatic Pipeline (TAP) from Greece, via Albania and the Adriatic Sea to southern Italy, which will allow gas to flow from the Caspian region to European markets.