The scope of digital transformation in chemical industry

Chemical companies need to maximize value creation from their business portfolio. Growing and optimizing existing businesses (for example, in terms of operations) is often not enough to drive value. Over the years, we have observed several chemical companies trying to optimize their business portfolio to create additional value; not everyone has succeeded. In the eyes of investors, the most reliable source of value creation is to develop a centralized portfolio with several sizable businesses and integrate them around a leading business model.

Although it is important, it is not enough to analyze the impact of oil price only by microeconomic model. The shock in 2014 showed that many chemical suppliers could not change direction quickly enough to cope with the oil price shock appropriately. Since 2010, the stable oil price environment has led many chemical supplier leaders to shift their attention from fluctuation management. However, with the recent fall in oil prices, leaders have realized that they no longer have the organizational flexibility they need.

New York; August 12, 2020 - despite seeing the customer center - that is, being able to foresee and meet customers' needs as a priority, nearly half (46%) of chemical suppliers say they are trying to make it right and are afraid that competitors will take their customers from Accenture (NYSE: ACN), according to the latest research.

Opportunities and development of Indian chemical industry

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