Midyear outlook for the global chemical industry
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- In this report the views of various chemical industry leaders have been canvassed. Their opinions about the following were sought:
- How the recession has affected the industry globally
- The biggest challenges facing the industry
- Whether there’ll be major industry restructuring
- If demand will return to pre-recessionary levels
- Which indicators to look out for, indicating imminent revival
- What will separate success from failure in the industry
- The following is a summation of their responses
- Global demand has contracted greatly with the automotive industry at the forefront as a major cause for this contraction
- Consolidation will be the main challenge in these uncertain times, there will be a need to separate real economic growth from stimulus packages
- In the short to medium-term it is unlikely that pre-recessionary levels will be achieved
- Acquisition are likely to be the order of the day as smaller companies (that cannot leverage scale) suffer the most from the economic down turn
- The companies that have made the right (and often tough decisions will have bright futures)
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