Canadian Chemical Industry plays a vital role in the economy of Canada. In terms of Value Addition to Canadian Economy, Canadian Chemical Industry holds the third place in the manufacturing sector. This is an industry which has experienced Fast Productivity Growth in the past few years. The strength of Canadian Chemical Industry actually lies in the fact that the industry is the most knowledge intensive manufacturing industry in Canada where the largest portion of workers possess post secondary educational qualification. This knowledge intensiveness and high productivity growth provides the Canadian Chemical Industry a sharp competitive edge which enables it to perform well even in the Context of Globalization.
Growth Canadian Chemical Industry is important not only for the industry itself but also for the other numerous industries which depend on Canadian Chemical Industry in some or other, either directly or indirectly. Canadian Chemical Industry has the strength to influence the following industries in the following ways:
- Automobile Industry- Canada exports cars and the plastics that are used in cars are supplied by Canadian Chemical Industry.
- Paper Industry- The fine paper which are used for publishing books, are manufactured by using bleaching agents. These Bleaching Agents are supplied by none other than Canadian Chemical Industry .
- Electronics and Telecommunication Industry- The plastic that is used in fiber optics cable in a phone or the Inorganic Chemicals that are used in the microchip of the computers are provided by Canadian Chemical Industry
Other than these, the chemicals produced by Canadian Chemical Industry are used in Textile Industry, Food Manufacturing Industry and Pharmaceutical Industry.
The Canadian Chemical Industry mainly specializes in the production of chemicals of following types:
- Petrochemicals
- Adsives and Sealants
- Synthetic Resins
- Paints and Coatings
Canadian Chemical Industry is not only capable of fulfilling the chemical needs of the own country but it also has an export base. We can say that Canadian Chemical Industry has truly welcomed globalization because the industry possess considerable amount Foreign Direct Investment and almost half of the Canada's Chemical produce is exported to different countries of the world. Even at the present day the export orientation of Canadian Chemical Industry is growing at a pace much more than that of U.S and other countries.