Trends And Drivers For Future Chemical Suppliers

By Author: ada red
Total Articles: 85
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With the development of the industry, how can chemical suppliers keep customer-oriented

Those enterprises which are facing industry, digitization, sustainable development and changing demand for talents will stand out in the competition.

In the process of revolutionary subversion, industries around the world are developing in a new direction, and the chemical industry, which provides the cornerstone for the global economy, has no choice but to follow suit. But what will the future - oriented chemical industry look like?

Globally, the changing needs of digital and end-user industries force chemical suppliers to develop new products. Chemical suppliers are also introducing artificial intelligence and machine learning into R & D to improve data analysis and digital platform in high potential areas and modernize their operation mode. In response, companies must rethink their talent priorities to develop an innovative and customer-centric culture to keep up with changing times.

Our global chemical market outlook (PDF) explores the trends and drivers of ...
... the chemical industry in the future. Our views are summarized as follows. Under the background of industry transformation and strengthened supervision by China and IMO, there are four key strategies worth pursuing

1. Follow the developing needs of customers and end users

We need powerful solutions to cope with the convergence of end-user industry, the change of cross generation preference and the emergence of advanced technology. Develop a portfolio plan, carefully study the future of energy, agriculture, mobile and technology, and map out the possibilities.

For example, what chemicals will be needed for electric vehicle batteries? Can you work with research institutions, the automotive industry and start-ups to license this technology in the future mobile field? Do you invest in sustainable technologies and products, such as seaweed based plant nutrients?

2. Using digital technology to promote the new era of chemical production

New technologies such as 3D printing and 5g will drive demand for reinforcements to complement their use. Artificial intelligence and machine learning are being used in experimental iterations to reduce R & D time and costs.

Chemical suppliers can improve product quality, develop new business models, and accelerate innovation through technologies you may not have heard of. These include soft sensors (which can estimate process variables that are difficult to measure), 4D printing (objects that can be 3D printed by optical or thermal conversion), and edge computing (which can reduce dependence on centralized and always connected network segments).

Demographic changes and new technologies are changing the way, why and where people work, as well as the demands and expectations for labor. In order to acquire the required skills, enterprises need a new way to attract, develop and motivate employees.

3. Take the road of sustainable development

The United Nations has set ambitious goals for sustainable development - zero hunger, good health and well-being, clean water, sanitation and energy, climate action - and chemical companies can play a huge and beneficial role by working with end-users to develop solutions.

For example, possible strategies in this area include investment in R & D to develop high-yield fertilizers and agricultural growth promoters, low-cost solar cells and fuel cells, bio based raw materials, enhanced water treatment and purification technologies.

4. Give priority to talents and culture to promote growth

In order to develop an agile workforce, companies cannot ignore the importance of soft skills, such as leadership, communication, innovation and digital skills. These skills complement departmental expertise and know-how to facilitate the deployment of the latest technologies in their operations.

The world's top employers can teach the industry a lot about how to develop a culture of innovation, growth and employee benefits. For chemical suppliers, in addition to monetary benefits and appropriate growth opportunities, it is essential to provide overall compensation, and efforts should be made to strengthen the brand in the market.

The future chemical industry has begun to take shape today. And companies that build on these trends are now positioning themselves to thrive in the future market.