Adapting to a changing landscape
Midyear outlook for the global chemical industry
The past year has been a defining one for the global chemical industry. The well-known struggles of the automotive and construction industries have translated into reduced demand, declining revenues, and diminishing profits for nearly every chemical company worldwide. To help better understand the forces moving the industry, Deloitte Touche Tohmatsu’s (DTT) Global Manufacturing Industry Group turned to a global panel of chemical industry leaders for perspectives on the state of the industry in a report entitled Adapting to a changing landscape: Midyear outlook for the global chemical industry.
The panel agreed that given the unlikelihood of a return to pre-recession levels in demand in the near to intermediate term, consolidation will be a major trend, both within the chemical industry and in end user markets. A key business tactic for the industry will be revising and redefining the corporate business model to adapt to the new economic environment.
Global chemical companies are making tough decisions now that will determine the future fate of their businesses. Those that have adapted their business models will be better situated to innovate to create new products, develop new value propositions, and tap into new markets, and ultimately create future growth opportunities. Download the report below.
Read the press release.