On the surface, today’s chemical industry appears to be in good shape, with peak cash and stable profits. Although some segments have performed better than others, overall the industry is doing well. But hidden pressures and signs of risk are mounting.
For example, chemical companies continue to struggle with improving productivity and margins. At the same time, profound changes in downstream markets and the supply chain are starting to affect industry fundamentals, while players in the extended ecosystem are vulnerable to change and volatility. Furthermore, sustainability and the circular economy are making headline news.
What does this industry landscape mean for chemical companies? They need to make the necessary technological, portfolio and business-model pivots required to survive and thrive. To that end, this report delves into how chemical executives can use technology that is available now to reimagine what’s possible tomorrow.
Accenture’s global Technology Vision survey indicates that chemical industry executives have begun to embrace the digital revolution, with most aware of the significant change that technology is bringing. And, there is a recognition that a company’s network of relationships will be critical to competitiveness and success. So, in a very real sense, companies will be defined by the company they keep.
Explore the trends
Findings from the Technology Vision survey highlight tremendous opportunities across the chemical industry to unleash the power of the intelligent enterprise.