A catalyst for change in the chemicals sector | McKinsey & Company

2023-04-16 05:03:11 By : Ms. Lingzi Yang

February 26, 2023The past year has been tumultuous for the chemicals sector. Shortages of critical products and materials, surging commodity prices, and a rise in cost of capital were some of the themes of 2022. Looking ahead, the sector faces significant medium- and long-term challenges, including a skills shortage and the complexity of decarbonization. To overcome these, chemical companies should consider reformulating their operations. And there’s one key ingredient that many companies are underutilizing: the power of digital technologies, write Sheng Hong, Anna Littmann, Richard Sellschop, and co-authors. Check out the article to learn more about how chemicals companies can address the challenges of demographics, sustainability, and long-term profitability, and explore other industry insights to prepare for what’s ahead.

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A catalyst for change in the chemicals sector | McKinsey & Company

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