Growth, Revenue, Profit: Commercial Challenges in the Chemical Industry for 2019
Volatility, innovation, online portals, customer relationships, and mergers and acquisitions (M&A): These are the five trends and issues that chemicals companies must address to increase growth, sales, and profit in 2019.
Despite high operational efficiency, the chemical industry will face a number of obstacles in 2019.
1. Volatility
The volatility of raw material costs, exchange rates, and tariffs continues to create a dynamic environment in the chemical industry. Those who aren’t flexible enough in negotiating contracts or fast enough in adjusting prices will face massive pressure on margins. Digital pricing and data analytics will be important tools to significantly accelerate pricing processes. Agility in contract and price management will be a key success factor in 2019.
