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By executing on capital investments that enabled access to abundant low-cost feedstock, commodity chemical firms have been able to control costs in a corner of the market that typically struggles for margins. They also placed an emphasis on operational efficiency and streamlining business processes.
Working closely with customers to ensure alignment in objectives and supply chains has provided insight into future requirements for specialty chemical manufacturers, who focused on developing and leveraging intellectual property. This strategy allowed them to innovate and quickly introduce new highly differentiated products that serviced needs customers may not have even yet been aware of.
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