Over the next 20 years, the chemicals and materials industries will face fundamental changes in feedstock and resources, sustainability, changing consumers, and digital transformation. These global changes are challenging these industries to learn new skills and adopt new goals.
The impacts of climate change and digital transformation will be substantial – as the chemicals industry is forced to adopt the circular economy waste plastic will become the most valuable feedstock. This will create a more decentralized industry that relies increasingly on economies of multiples. At the same time, digital sales platforms will commoditize customization, eroding the difference between specialty and commodity businesses. Ultimately the chemicals industry will be forced to shift away from a decision-making framework that prioritizes shareholder value as the only meaningful outcome.
In the new report “The Chemicals and Materials Company of 2040,” Lux Research looks at how leading companies will need to change over the next 20 years to stay competitive, examines how data and automated decision-making will tie together the different functions of the chemical enterprise, and highlights the opportunities available today that will help put companies in a better position.
Download the executive summary to learn more.