Trends in Chemical Markets Until 2030

Related Vendors

Angst+Pfister AG

Italvacuum, Srl

TRM Filter d.o.o.

Major Challenges Include Meeting Environmental Requirements and Ensuring Raw Materials Supply

Other developments will also play a decisive role, such as sustainability. For instance, legal requirements regarding the environment will lead to higher production costs in practically all industry segments.

Problems with raw materials supply and rising prices will put a considerable strain on the global chemicals industry. "Companies that have easy access to critical raw materials will have a major competitive edge in the future. This is because they will be in a much better position to keep their production costs in check. Manufacturers of basic chemical products must pay special attention to this when developing their marketing strategy," explains Keller.

Companies focused on special chemical segments such as flavors and fragrances will have to compete against competitors with big brand names, huge customer portfolios or innovative product technologies. "There is fierce competition in this specialized market segment – driven by significant customer orientation – and especially on the local level and primarily in Asia," explains Keller. "Furthermore, Asian investors are acquiring more and more companies in Western countries to gain easier access to these companies' technologies and customers."

(ID:30430200)