• Advertise
  • Contact Us
  • About Us
  • Supplier Directory
  • Login
  • Subscribe
  • Logout
  • My Profile

  • CORONAVIRUS
  • LOGISTICS
    • Air Cargo
    • All Logistics
    • Express/Small Shipments
    • Facility Location Planning
    • Freight Forwarding/Customs Brokerage
    • Global Gateways
    • Global Logistics
    • Last Mile Delivery
    • Logistics Outsourcing
    • LTL/Truckload Services
    • Ocean Transportation
    • Rail & Intermodal
    • Reverse Logistics
    • Service Parts Management
    • Transportation & Distribution
  • TECHNOLOGY
    • All Technology
    • Artificial Intelligence
    • Cloud & On-Demand Systems
    • Data Management (Big Data/IoT/Blockchain)
    • ERP & Enterprise Systems
    • Forecasting & Demand Planning
    • Global Trade Management
    • Inventory Planning/ Optimization
    • Product Lifecycle Management
    • Sales & Operations Planning
    • SC Finance & Revenue Management
    • SC Planning & Optimization
    • Sourcing/Procurement/SRM
    • Supply Chain Visibility
    • Transportation Management
  • GENERAL SCM
    • Business Strategy Alignment
    • Education & Professional Development
    • Global Supply Chain Management
    • Global Trade & Economics
    • HR & Labor Management
    • Quality & Metrics
    • Regulation & Compliance
    • SC Security & Risk Mgmt
    • Sustainability & Corporate Social Responsibility
  • WAREHOUSING
    • All Warehouse Services
    • Conveyors & Sortation
    • Lift Trucks & AGVs
    • Order Fulfillment
    • Packaging
    • RFID, Barcode, Mobility & Voice
    • Robotics
    • Warehouse Management Systems
  • INDUSTRIES
    • Aerospace & Defense
    • Apparel
    • Automotive
    • Chemicals & Energy
    • Consumer Packaged Goods
    • E-Commerce/Omni-Channel
    • Food & Beverage
    • Healthcare
    • High-Tech/Electronics
    • Industrial Manufacturing
    • Pharmaceutical/Biotech
    • Retail
  • REGIONS
    • Asia Pacific
    • Canada
    • China
    • Europe
    • Latin America
    • Middle East/Africa
    • North America
  • THINK TANK
  • PODCASTS
  • VIDEOS
  • WHITEPAPERS
Home » Chemical Industry Advised to Make Big Changes, Harness Digital Technologies

Chemical Industry Advised to Make Big Changes, Harness Digital Technologies

January 30, 2015
Strategy&

Global sales of chemicals more than doubled over the last decade, hitting a record $5.2tr by 2013. Emerging economies drove a large share of these gains, most notably in China, where chemicals sales expanded at an average compound annual rate of 26 percent over that period. Growth in basic chemicals, which make up nearly two-thirds of the industry, also benefited from the general uplift in oil and gas prices.

But at the same time, the chemicals industry is going through a tremendous period of change that will help define opportunities and challenges in both the short and the long term. Among these disruptions: The nature and role of chemicals innovation has continued to move away from the blockbuster breakthroughs that characterized the late 20th Century, and toward more incremental advances targeted at new solutions for particular problems. We’ve seen the increased commercialization of alternative manufacturing technologies, such as converting coal to liquids and gas to liquids. Manufacturing footprints have changed to take advantage of new shale gas supplies. And, finally, new customers are emerging in a wider variety of regions and markets.

To succeed in this shifting landscape, chemicals companies need to focus their strategic thinking on three areas: (1) adapting and refining their business models and manufacturing footprints; (2) identifying growth opportunities in emerging markets — which, especially for Western companies, will require a new mind-set; and (3) harnessing the potential of digital technologies to capitalize on the next wave of value creation.

Read Full Article

RELATED CONTENT

RELATED VIDEOS

Technology Global Trade Management Business Strategy Alignment Global Supply Chain Management Chemicals & Energy High-Tech/Electronics Industrial Manufacturing
KEYWORDS business processes business strategy Business Strategy Alignment Chemicals & Energy global chemicals market Global Supply Chain Management Global Trade Management High-Tech/Electronics Industrial Manufacturing international trade Strategy& Supply Chain Analysis & Consulting supply chain management: chemicals and energy Technology
  • Related Articles

    Big Data Has Big Contribution to Make to Food Industry

    Big Regulatory Changes Coming to All Players in Pharmaceutical Industry

    Chemical Industry to Be Transformed by Continuous Collection, Analysis of Data - PwC

  • Related Events

    First Mile or Last Mile Freight? Where to Invest Your Technology Focus

Strategy&

Chemical Industry Advised to Make Big Changes, Harness Digital Technologies

More from this author

Wake up to Coronavirus Updates and the latest Supply Chain News!

Subscribe to our Daily Newsletter

Timely, incisive articles delivered directly to your inbox.

Popular Stories

  • Coronavirus-watch-Armada

    Virus Update: Pfizer Ramps Up Production; Biden Says There Are Enough Doses Without J&J

    Coronavirus
  • Shipping Costs

    Higher Shipping Costs Are Here to Stay, Sparking Price Increases

    Coronavirus
  • Semiconductor

    Why Shortages of a $1 Chip Sparked a Global Economic Crisis

    Coronavirus
  • Indoor Farm

    Vertical Farming: A Solution to Waste and Inefficiency in the Food Supply Chain?

    Sustainability & Corporate Social Responsibility
  • Shipping Logjam

    Reducing Supply-Chain Disruptions Through Integrated Logistics

    Coronavirus

Digital Edition

Scb feb 2021 lg

2021 Supply Chain Management Resource Guide

VIEW THE LATEST ISSUE

Case Studies

  • Remote Implementation: A Dose of the Right Medicine for B2B Pharmacy

  • LSP Saves Customer $1.5 Million a Year With MPO Global Inbound Management

  • Auto Supplier Wows Key Client Using riskmethods Supply Chain Savvy

  • Integrating Shipping and Compliance Saves Conglomerate Millions

  • How a Consumer Goods Giant Upped Its On-Time Delivery Performance

Visit Our Sponsors

Yang Ming 6 River Systems ArcBest
Armada aThingz BluJay
Burris Logistics DSC Logistics DCSA (Digital Container Shipping Association)
DHL Resilience360 Flash Global Genpact
Geodis GEP GreyOrange
Honeywell Corporate Honeywell Intelligrated Infor
Inmar Kibo Commerce Kinaxis
Logility Magnitude Software MPO
Old Dominion Oliver Wight OpenSky
Paccurate Ports America Purolator
QAD Precision Red Classic Riskmethods
S&H Systems Snapfulfil TGW Systems
Tradepoint Atlantic Transportation Insights Watson Land Company
Westfalia Technologies Workjam
  • More From SCB
    • Featured Content
    • Video Library
    • Think Tank Blog
    • SupplyChainBrain Podcast
    • Whitepapers
    • Webinars
  • Digital Offerings
    • Digital Issue
    • Subscribe
    • Manage Your Subscription
    • Newsletters
  • Resources
    • Events Calendar
    • SCB's Great Supply Chain Partners
    • Supplier Directory
    • Case Study Showcase
    • Supply Chain Innovation Awards
    • 100 Great Partners Form
  • SCB Corporate
    • Advertise on SCB.COM
    • About Us
    • Privacy Policy
    • Contact Us
    • Data Sharing Opt-Out

All content copyright ©2021 Keller International Publishing Corp All rights reserved. No reproduction, transmission or display is permitted without the written permissions of Keller International Publishing Corp

Design, CMS, Hosting & Web Development :: ePublishing