Chemicals Industry MPI >> globalEDGE: Your source for Global Business Knowledge

Release Date: August 16, 2017

The Industry Specific Market Potential Index (MPI) aims to compare 89 countries, which globally have the highest Gross Domestic Product (GDP), with each other on several dimensions in order to rank them according to their market potential for different industries. The focus of the study is to identify new markets to export goods rather than identifying new countries to invest in.

The Index compares these countries on six dimensions; size, growth rate, capacity, openness of the market, existing logistics infrastructure and risk (political, economic and business) of the country. To measure each dimension a different set of indicators are identified for every industry. Secondary data is used for these indicators which have been gathered from different reputable sources, as noted. Ranking scores are calculated by adding up the dimensions, weighted by relative importance.

While the MPI is a very useful tool for companies in the industry who are in the process of researching new markets for export, it shouldn’t be used as the single source of decision. MPI is designed to support other detailed market research and for verification purposes. It can be utilized as the first step of a market research which will help identify the focus countries that a more detailed market research should be conducted on.

Since MPI is calculated with the most recent data available, it is also important to remember that it represents the current states of the countries and it is not aimed to forecast the future states of the countries.

Industry specific MPIs will be updated annually.

View 'Insights, Rankings & Assumptions' Document

Overall Rank	Country	Market Size Index	Market Growth Rate Index	Market Capacity Index	Market Openness Index	Logistics Infrastructure Index	Country Risk Index	Overall Index
1	China	100	29	100	55	78	60	100
2	Japan	46	18	84	78	67	92	67
3	Germany	45	22	46	72	89	94	65
4	Canada	14	27	49	100	84	88	48
5	Ireland	6	79	75	75	59	86	48
6	France	22	17	54	74	79	88	47
7	Netherlands	14	21	51	79	100	92	46
8	Belgium	18	24	21	75	92	89	44
9	South Korea	23	23	39	67	71	79	44
10	Singapore	8	34	46	89	81	88	43
11	United Kingdom	16	12	44	77	89	87	43
12	Israel	3	100	28	73	43	78	42
13	Switzerland	9	22	74	70	68	100	42
14	Hong Kong	4	21	68	85	77	84	39
15	Spain	14	23	26	70	80	77	38
16	Italy	19	16	27	67	61	77	37
17	Denmark	4	40	31	72	73	91	36
18	Austria	7	26	27	77	62	94	35
19	India	23	37	18	55	36	57	35
20	Sweden	6	11	35	73	78	96	34
21	Mexico	14	29	15	87	57	51	34
22	Norway	4	15	40	81	56	97	33
23	United Arab Emirates	5	41	27	66	72	69	33
24	Australia	7	17	38	77	35	91	31
25	Finland	4	12	29	77	66	90	30
26	Malaysia	7	33	10	75	56	69	30
27	Czechia	5	30	12	71	49	85	29
28	Poland	8	35	14	61	49	76	29
29	New Zealand	3	22	22	82	34	93	29
30	Portugal	4	21	13	71	62	77	27
31	Estonia	2	26	12	73	48	86	27
32	Lithuania	2	33	10	75	47	73	27
33	Chile	3	23	16	74	47	76	26
34	Latvia	2	32	10	76	44	75	26
35	Slovakia	3	34	12	69	36	78	26
36	Saudi Arabia	7	40	15	56	44	60	26
37	Qatar	3	41	33	54	42	67	25
38	Turkey	10	33	12	56	48	44	24
39	Hungary	4	32	9	68	40	67	24
40	Slovenia	2	22	14	66	48	76	24
41	Thailand	9	26	8	67	30	54	23
42	Brazil	16	12	38	50	30	39	23
43	Indonesia	12	31	10	58	9	54	22
44	Colombia	4	25	9	74	41	51	22
45	Vietnam	5	50	7	60	28	43	22
46	Dominican Republic	2	33	6	80	45	42	22
47	Bahrain	2	39	14	65	42	48	21
48	Russia	12	26	24	50	30	39	21
49	Costa Rica	2	30	10	75	28	59	21
50	Philippines	5	48	7	61	6	58	21
51	Peru	3	27	8	70	37	57	21
52	Panama	2	1	12	75	77	58	21
53	Morocco	3	29	5	62	49	57	21
54	Romania	4	30	9	65	29	59	21
55	Bulgaria	2	44	7	59	23	58	20
56	Cote d'Ivoire	2	70	2	52	35	28	20
57	El Salvador	2	34	4	74	36	43	19
58	South Africa	5	21	7	62	43	49	19
59	Kuwait	2	32	18	55	24	61	19
60	Croatia	2	19	9	75	43	46	19
61	Guatemala	2	35	4	69	35	41	19
62	Oman	1	26	10	63	40	55	18
63	Cyprus	1	17	13	64	31	65	18
64	Greece	3	13	13	66	47	50	18
65	Cambodia	2	74	2	49	4	29	17
66	Uruguay	2	16	12	56	40	59	16
67	Ecuador	2	25	6	70	47	27	16
68	Honduras	2	24	3	73	38	35	16
69	Jordan	1	29	4	73	29	39	16
70	Nicaragua	2	48	2	63	23	24	15
71	Kenya	2	38	4	57	26	38	15
72	Ethiopia	2	87	2	33	1	20	15
73	Sri Lanka	2	27	4	62	24	38	14
74	Bolivia	2	46	3	59	4	34	14
75	Azerbaijan	2	40	6	53	21	30	13
76	Uganda	1	46	1	58	7	28	13
77	Serbia	2	21	5	65	17	38	12
78	Belarus	2	40	6	64	22	7	12
79	Kazakhstan	2	21	8	69	12	31	12
80	Paraguay	2	34	3	55	18	32	12
81	Tunisia	2	21	5	59	17	40	12
82	Egypt	3	24	6	37	45	25	10
83	Lebanon	2	32	7	51	26	20	10
84	Argentina	5	10	12	43	32	32	10
85	Bangladesh	3	48	4	31	7	28	10
86	Tanzania	2	40	2	43	12	30	10
87	Algeria	3	34	5	31	18	39	10
88	Nigeria	3	48	5	33	15	15	9
89	Cuba	3	29	6		34	1	9
90	Pakistan	4	31	2	30	26	21	7
91	Ukraine	3	7	5	59	24	12	6
92	Ghana	2	7	3	44	20	36	5
93	Angola	2	29	7	38	4	16	4
94	Cameroon	2	33	2	19	6	27	3
95	Uzbekistan			4	59	6	16	1
96	Venezuela	4	9	5	38	18	1	1
97	Democratic Republic of the Congo	1	54	1	1	4	9	1

Dimension	Weight	Measures Used
Market Size	30	Consumption of Chemicals =[Production+ Imports ]-Exports (2016) ¹ Consumption of Chemicals =[Production+ Imports ]-Exports (2016) ² Imports of Chemicals (2016) ² Manufacturing, Value Added (2016) ³
Market Growth Rate	15	CAGR of Consumption of Chemicals (2011-2016) ¹ CAGR of Consumption of Chemicals (2011-2016) ² CAGR of Imports of Chemicals (2011-2016) ² CAGR of Manufacturing, Value Added (2011-2016) ³
Market Capacity	10	Foreign Direct Investment, Net Inflows (2015) ³ GNI Per Capita (2016) ¹ R&D Expenditure (2016) ¹
Market Openness	15	Applied Tariff Rate on Chemicals (2016) ⁴ Burden of Customs Procedure (2016) ³ Cost to Import, Border Compliance (2016) ³ Cost to Import, Documentary Compliance (2016) ³ Imports of Chemicals from US as a Share of Global Imports (2016) ²
Logistics Infrastructure	15	Distance of Country from US (2016) ⁵ Liner Shipping Connectivity Index (2016) ³ Logistics Performance Index (2016) ³ Quality of Port Infrastructure Index (2016) ³
Country Risk	15	Business Risk Rating (2016) ⁸ Economic Risk Rating (2016) ⁷ Intellectual Property Rights Protection (2017) ⁹ Political Risk Rating (2016) ⁶

Data used are those available for most recent year. All sources were accessed in August 2017.

¹ Passport GMID:,Global Market Information Database

² UN Comtrade:,Commodity Trade Statistics Database

³ World Bank:,World Development Indicators

⁴ World Trade Organization (WTO):,Tariff Database

⁵ Happyzebra:,Distances

⁶ Credendo:,Country Risks

⁷ Coface:,Economic Studies

⁸ Swiss Export Risk Insurance:,Cover Practice for Countries and Banks

⁹ International Property Rights Index:,2013 IPRI Report

¹⁰ U.S. Energy Information Administration (EIA):,International Energy Statistics

¹¹ International Labor Organization:,ILOSTAT

¹² Organisation for Economic Co-Operation and Development:,OECD.Stat

¹³ Food and Agriculture Organization of the United Nations:,FAOSTAT

¹⁴ WARDSAUTO:,Data & Insights

¹⁵ International Organization of Motor Vehicle Manufacturers:,Production Statistics

¹⁶ Knoema:,Car Production Statistics

¹⁷ World Intellectual Property Organization (WIPO):,IP Statistics Data Center

For More Information:

For the indexing methodology, please refer to:

"Measuring The Potential of Emerging Markets: An Indexing Approach" - S.Tamer Cavusgil,
Business Horizons, January-February 1997, Vol. 40 Number 1, 87-91: doi .

" Complementary Approaches to Preliminary Foreign Market Opportunity Assessment: Country Clustering and Country Ranking " - S. Tamer Cavusgil, Tunga Kiyak, and Sengun Yeniyurt
Industrial Marketing Management, October 2004, Volume 33, Issue 7, 607-617: doi .

For additional inquiries, please contact MSU-IBC.