Catalyzing the New
January 28, 2019
January 28, 2019
Despite healthy appearances, the global chemical industry faces change on multiple fronts, with the convergence of disruptive forces redefining its future.
Hidden pressures are mounting, revealing telltale signs of risk. Profound changes in downstream markets and the supply chain are digging in. Manufacturers are moving to more sustainable materials. There’s volatility in the extended chemical ecosystem and many customer markets are undergoing massive transformation. Global megatrends, macroeconomic trends and Amazon-era customer expectations are driving change at speed, putting conventional business models under ever more strain.
Depending on your readiness, adaptability and agility to respond, the collision of forces will bring threats and opportunities. Foresight is required to constantly scan and evaluate your exposure to disruption – combined with creative thinking and new digital capabilities to innovate for the new chemical industry landscape.
Accenture's video reveals chemical companies must reinvent and embrace new digital capabilities and business models for driving growth. See more.
View TranscriptHow can you calculate the risk to your business, adapt for change and turn disruption to your advantage starting today?
The report takes a deep dive into the four disruptive trends that we think most likely to seriously impact the industry. With an understanding of these, you can target your capital investments, business models and innovation where they will be most effective.
81M
mtpy of conventional capacity could be lost by 2030 due to plastics recycling.
46+
typical polymer plants could be needed to meet rising demand for 3D printing by 2040.
$550Bn
could be unlocked for the chemical industry in the next decade by digitalization.
47%
of manual tasks in the chemical industry could be automated by 2030.
Turning disruption to your advantage requires technological, portfolio and business model change. But the commercial case is compelling. A recent Accenture study, for example, suggests that a typical chemical company with 10 percent EBIT could create an extra three to six percent on its P&L through transformation—adding significantly to its profit potential.
Connectivity and data-driven intelligence are key to embedding new capabilities as the core building blocks for growth.
Look beyond your immediate customers and intermediaries to those consuming your products – differentiating to drive appeal.
Reimagine offerings, engage customers and inspire your workforce to attract the best talent via a strong transformative purpose.
Break down silos to co-create smart products, drive innovation, share knowledge and extend your ecosystem partnerships.
Adopt new technologies to be agile, faster, and smarter, using analytics to be truly cost efficient and drive more value from data.
Generate value by controlling the molecule lifecycle and enabling downstream circularity through new business models.
As the chemical industry evolves, we expect five core new business models to dominate. The challenge is to understand how and where in this new landscape your business can best thrive.
To support your transformation, the report will help you identify where you want to play, the capability pivots to get you there and key steps required to capitalize on future potential.
For those who are willing, the opportunity is clear. The time to seize it, is now.
Are you ready to lead in an era of epic disruption?