Whereas chemical industry serves to nearly every other industry ranging from energy, oil and gas, agriculture, food, pharmaceuticas, polymers, and manufacture to consumer and retail. It continues to experience a number of challenges in the buoyant global economy.
Some of the challenges that hinder the industry growth include fluctuating commodity prices, irregular supply, regulatory pressures, geopolitical risk and reveneue downturn.
To succeed amid ongoing challenges, chemical industries should implement strategic initiatives in areas such as R&D and technology, including both short and long-term focused efforts.
