The chemical multiverse: Preparing for quantum changes in the global chemical industry
An in-depth examination of the state of the global chemical industry reveals anything but a cohesive picture of an industry on a linear path. It remains the case that chemical products will play vital roles in solving many of the world’s problems over the next 10 years and well into the future. What is less clear is how those problems will be solved. More than ever, individual companies are redefining and refining the roles they currently play and the roles they expect to play in the future. They are shifting their strategies. They are seeking to understand their own capabilities and channel them into solutions for the specific, fast-changing needs of their customers. Ultimately, they are looking to make the right choices to ensure their success.
A new report by Deloitte Touche Tohmatsu Limited’s Global Manufacturing Industry Group entitled The chemical multiverse: Preparing for quantum changes in the global chemical industry, draws on research and analysis of corporate performance over the past 12 years and includes valuable insights from working sessions with more than 150 chemical industry executives. The report begins with a review of the current industry landscape and offers a process for chemical companies to understand their current position or “starting point.” The report reveals actionable ways that chemical companies can analyze the impact megatrends play in the industry landscape. A unique framework is introduced to help companies adopt a flexible strategic approach that plans for a variety of scenarios and incorporates practical solutions that stand the best chance of successfully reshaping the industry over the next decade.