Chemical industry trends | Deloitte Saudi Arabia | C&IP has been added to your bookmarks.
The chemical multiverse 4.0
Promising future for the strong, decisive, and persistent chemical company
Do you know where your company stands today and where you will be in the future? Our latest study serves as a vital aid to help chemical companies evaluate their current conditions, understand where they want to head in the future, and then make strategic changes to continue on the path to lasting success.
Keeping up with changes in the chemical industry
Now is a fascinating time to be in the chemical industry. Despite extraordinary pressures from a multitude of sources, the industry has continued to perform and mature. To keep up with changes, the chemical industry has adjusted strategies to manage feedstock volatility, handled slumps driven by key buyers in the automotive and construction industries, and managed emergence of massive state-owned enterprises in China.
One critical component will help your organization manage change and forge ahead—knowing where you stand today and where you plan to be in the future.
Our latest report, aptly titled The chemical multiverse 4.0 is designed to serve as a vital aid to help chemical companies achieve their business goals. This study will provide chemical companies with a detailed overview of what is happening in the chemical multiverse, and provide an understanding of how the future may affect their way of doing business.
Download the report and find a comprehensive industry map that outlines your options—both financial and strategic—when it comes to meeting new challenges.
How will the chemical industry embrace “Industry 4.0”?
While we are not in the midst of a revolution for the chemical industry, the term “Industry 4.0,” refers to creating a digital manufacturing enterprise (DME). DME is popularizing digital tools. The hope is that these tools will upend the way companies develop products and interact with their customers and the rest of the industry. What does it mean for your organization?
The path forward
The chemical industry is entering a phase where every chemical company should likely decide what they want to be. They can be:
- Material manufacturers: This will not be an even playing field, as there will be the natural owners (with feedstock, asset, and balance sheet advantages) and differentiated commodities companies, both of which will present challenges to the new incumbents.
- Solutions providers: These companies will change their approach to focus more on market needs, but this category could also include companies from the digital space.
Companies should assess where they stand today on the chemical multiverse map to arrive at an understanding of the needed strategic changes they can make to put themselves on the path to lasting success.