In a dialogue, Jennifer Abril, President & CEO, Society Of Chemical Manufacturers & Affiliates (SOCMA), with Chemical Today magazine gives an insight into the expectations, realities and opportunities that lies ahead for the speciality chemicals industry of the US.
By Shivani Mody
The US and global markets have been and continue to be strong for the speciality and fine chemicals industry. For Society Of Chemical Manufacturers & Affiliates (SOCMA) member companies, which primarily sell into the performance, agricultural and pharmaceutical chemical sectors, 2017 was a banner year. Various sources pegged the year at a 4 percent growth rate. Anecdotally, numerous members have told us that last year was their best to date, and expectations remain high for 2018. As we near the end of the first quarter of 2018, below are a few perspectives on opportunities and challenges for the speciality chemical industry.
Innovation and Other Factors Driving a Strong Market for Specialties
Speciality chemical manufacturers by nature are extremely innovative and entrepreneurial, and research and development of new chemistries continue to be a key component of their businesses. In addition to the resurgence of key market segments strongly dependent on speciality chemicals and new project starts, other important factors are fueling this compelling growth, including the low price of natural gas.
Distribution channels for US manufacturers remain solid, and the regulatory environment is improving under the new Administration. Because of a more business-friendly environment, many SOCMA members and others in the industry are telling us that projects they have had in the pipeline for many years are now coming to fruition.
In a dialogue, Jennifer Abril, President & CEO, Society Of Chemical Manufacturers & Affiliates (SOCMA), with Chemical Today magazine gives an insight into the expectations, realities and opportunities that lies ahead for the speciality chemicals industry of the US.
By Shivani Mody
The US and global markets have been and continue to be strong for the speciality and fine chemicals industry. For Society Of Chemical Manufacturers & Affiliates (SOCMA) member companies, which primarily sell into the performance, agricultural and pharmaceutical chemical sectors, 2017 was a banner year. Various sources pegged the year at a 4 percent growth rate. Anecdotally, numerous members have told us that last year was their best to date, and expectations remain high for 2018. As we near the end of the first quarter of 2018, below are a few perspectives on opportunities and challenges for the speciality chemical industry.
Innovation and Other Factors Driving a Strong Market for Specialties
Speciality chemical manufacturers by nature are extremely innovative and entrepreneurial, and research and development of new chemistries continue to be a key component of their businesses. In addition to the resurgence of key market segments strongly dependent on speciality chemicals and new project starts, other important factors are fueling this compelling growth, including the low price of natural gas.
Distribution channels for US manufacturers remain solid, and the regulatory environment is improving under the new Administration. Because of a more business-friendly environment, many SOCMA members and others in the industry are telling us that projects they have had in the pipeline for many years are now coming to fruition.
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