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Digital Transformation in the Global Chemicals Industry

Publisher Frost & Sullivan
Published Dec 21, 2022
Length 71 Pages
SKU # MC17563531

Description

Digital Transformation in the Global Chemicals Industry

Across various industrial sectors, digitalization has rapidly developed, utilizing several existing and emerging digital technologies, including AI, Big Data analytics (BDA), IoT, machine learning (ML), natural language processing (NLP), robotics, and automation. While the chemicals industry was relatively slow to adopt these technologies, the transformation rate in the industry has increased considerably in the past 5 years.

The global spread of the COVID-19 pandemic has accelerated the digital transformation in the industry to enable companies to rapidly address remote and hybrid working practices, prolonged and sometimes broken supply chains, and changing end-user demands.

Frost & Sullivan, in its March 2018 study, Impact of Digitization on the Chemical Industry, identified 7 domains of digital transformation and provided an overview of enabling digital technologies.

This new study analyzes the market using 6 emerging themes: Digitalization for Sustainability, Empowered Workforce, Digitalization for Innovation, Enhanced Customer Experience, Digital Transformation of Supply Chain, and Transformation because of Emerging Technologies.

Each theme will cover 1 or more of the 7 domains. While attaining operational excellence is at the core of digitalization strategies of larger petrochemicals, chemicals, and formulation companies in this industry, there is a general rise in awareness among organizations about the importance of adopting a holistic approach by placing their internal workforce and end customers at the core of this transformation as well.

Table of Contents

71 Pages
    • Why is it Increasingly Difficult to Grow?
    • The Strategic Imperative 8™
    • Impact of the Top 3 Strategic Imperatives on Digital Transformation in the Chemicals Industry
    • Growth Opportunities Fuel the Growth Pipeline Engine™
    • Key Findings
    • Background and Introduction
    • Scope of the Analysis-Digital Transformation Themes
    • Sectors of the Chemical Industry Value Chain
    • Digitalization for Sustainability
    • Empowered Workforce
    • Digitalization for Innovation
    • Enhanced Customer Experience
    • Digital Transformation of Supply Chain
    • Transformation Because of Emerging Technologies
    • Global Chemicals Industry Digital Transformation Expenditure Forecast
    • Introduction
    • Chemical Industries-Segment Overview
    • Diversified Chemical Companies-Case Studies
    • Additives-Case Studies
    • Polymers and Resins-Case Studies
    • Degree of Digitalization-Chemical Industries
    • Introduction
    • Formulation Industries-Segment Overview
    • Coatings-Case Studies
    • Adhesives and Sealants-Case Studies
    • Lubricants-Case Studies
    • Degree of Digitalisation-Formulation Industries
    • Packaging-Segment Overview
    • Packaging-Digital Technology Contributing to Circularity
    • Digital Concepts in Packaging
    • Packaging Companies-Case Studies
    • Packaging-Other Case Studies
    • Growth Opportunity 1: Data Monetization
    • Growth Opportunity 2: 5G and Edge Computing
    • Growth Opportunity 3: Quantum Computing in R&D and Manufacturing
    • Growth Opportunity 4: External Digital Platform Developers can Support Chemical Companies with their Digitalization Goals
    • List of Acronyms
    • Your Next Steps
    • Why Frost, Why Now?

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