Chemistry is a sector that has made Austria recognized by its peers members of the European Union. Supported by major universities as well as by its manufacturers of industrial equipment, Austria is a country full of opportunities for major chemical companies.
A country full of opportunities
Austria is a country mainly focused on the field of scientific research and enjoys a strategic position within Europe, making a bridge between Western Europe and Eastern Europe. Being an European hub, Austria was not much affected by the crisis compared to its neighbors on the east, which can also be explained by its tendency to favorize medium-sized businesses, which often happen to be family business, who were able to withstand external pressures and thus demonstrate a low debt ratio. On another hand, Austria attracts a lot of fundings for research, research being funded by two times more foreign investment than its European neighbors. R&D applied to the chemical industry is attracting 17.5 % of FDI, therefore, chemistry has the wind in its sails as it also meets 13.5% of the implemented innovation programs. R&D was originally integrated to the chemical industry with the founding of the Treibacher chemical plants by Carl Auer von Welsbach, himself a researcher who has set an example to all those who have followed in his footsteps, and thus encouraged the trend of the cooperation with universities and institutes. Thus, the application areas subject to important funds are pharmaceutical, biotechnology and plastics, which greatly contribute to the positive and steady growth of the Austrian chemical industry.
Besides, Austria is world renowned for building modern and efficient machinery, including machine tools and engines of all kinds. The equipment, research and innovation combination is attractive to laboratories such as Beiersdorf and Henkel who do not hesitate establishing new subsidiaries in Austria.
A diverse industry
The chemical industry is a key industry in the Austrian economy that received 851 million investment in 2012, thus the potential of this industry is no longer in doubt. In addition, it meets alone 10.3 % of the jobs, especially favored by a diversified industrial base, which allows to employ skilled workers in many sub-branches. Indeed, the chemical industry is divided into various areas of application and participating in the success of Austria on the world market, namely plastics, pharmaceuticals, paints, varnishes and inks, adhesives and lubricants, and finally chemical fibers. However, if the industry exports 70 % of its chemical production, it also exports a lot of industrial machines. Indeed, machines for the chemical industry from Austria are reputedly of high quality thanks to high technical standards and flawless expertise of Austrian machinery constructors. In addition, OEMs also offer a large number of modules, tools and additional automation systems that make their machines first choice products on the world stage. No surprises then, exports of industrial machinery corresponds to 13.5 % of Austrian exports.
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With a favorable environment for the industry, on one hand through programs of research and innovation, and secondly, through an efficient equipment production, Austria remains a significant producer of chemicals, since two thirds of its production is destined for export.