Russia 1-Decanol Market Outlook

russia, as one of the world's major energy exporters, has a major influence on the global 1-decanol market. industrial 1-decanol is mostly derived from petrochemical feedstock, and since russia is a major supplier of these hydrocarbons, the performance of the russian economy will be a key factor driving 1-decanol demand in the upcoming years. in 2018, the russian economy had been showing signs of recovery from the recession it had experienced since mid 2014, and these improvements were expected to continue throughout the next decade. as a result, russia's industrial sector is expected to benefit as businesses that purchase 1-decanol as an intermediate input factor in their manufacturing processes will have access to increased resources. moreover, the recent shift to an increase in domestic consumption in russia has opened up new opportunities for 1-decanol demand in consumer-focused industries. this has been supported by the agricultural ministry's push to expand the agricultural sector's output and use of 1-decanol as a feedstock for a variety of crops. in order to increase the profitability of the 1-decanol market, russia's government has recently passed measures to reduce sales taxes on the chemical to further support its industrial manufacturing sectors. this measures, along with the falling oil prices, which have lowered the overall demand for petrochemical feedstock, have made 1-decanol production more cost-efficient in russia. the availability of raw materials and the economic improvements that the country experienced in 2018 are expected to not only support the demand for 1-decanol, but could increase it during the next decade. further, the russian government is likely to implement further liberalization policies to support the domestic manufacturing sector, which could further boost the 1-decanol demand. overall, russia's influence on the global 1-decanol market is expected to remain a key factor driving the demand for the chemical in the next decade. the availability of the raw materials and the government's supportive stance towards the domestic manufacturing sector, combined with the increased domestic consumption in russia, will ensure the success of the 1-decanol market in the country.