Companies can increase efficiency through managing costs, promoting digitalization and adjusting their product portfolio.
Chemical companies are witnessing intensified cost pressures to protect margins. This pressure is compounded by the need to invest in digitalizing their operations. Big data and analytics can now enable more efficient plant operations, promote low-cost and sustainable R&D, and support business negotiations.
The industry also continues to pursue growth, both in technology and talent, through consolidation. To overcome the talent gap, chemical companies must adopt new strategies including early talent identification, new recruitment methods and a focus on millennials.
EY teams help a variety of chemical businesses such as specialty chemicals, fertilizers, agro-chemicals, paints and coatings realize sustainable business model improvements and advancements in technology to succeed tomorrow, today.