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A major shift in the competitive landscape of the worldwide chemical industry is under way as new players from oil- and gas-producing countries and the high-growth developing markets of China and India join the industry's top ranks in sales. The new players focus on resource monetization and economic development, in contrast to the classic shareholder value-creating goals that have historically informed the strategies of top players.
Not only are these newcomers playing by different rules, but they are also better placed to benefit from two of the key dynamics driving the industry's future: control of advantaged feedstocks in a high-oil-price world, and privileged access to the most attractive consumer-growth markets.
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