Firms in the chemical industry have not been as aggressive as those in some other sectors in adopting digital technologies. This has happened despite the fact that senior executives at many of these companies are aware of the range of benefits that digitization can offer in improving their chemical suppy chain.
The global chemical industry is undergoing rapid change. Both demand and consumption of chemicals are shifting eastwards as new manufacturing facilities come up and China’s consumption levels rapidly increase. New production capacities are being developed in the Middle East and in other non-traditional areas.