Future trends in the chemical industry
With the application of new technology, all industries are being re imagined and blurred. Your strategy today may be an obstacle to tomorrow.
The digital revolution will internally promote the development of chemical industry to new business and operation mode, which is driven by the disintegration of traditional industry and the formation of digital ecosystem, which combines products and services and is realized by technology.
In the new ecosystem world, how to integrate and what role to play in the ecosystem will be more important than the size of your assets. Just as important is how you will be able to dynamically change, react, and adapt to new market thinking, and how easily or difficult your organization will follow, or even lead.
Recent trends in the chemical industry - such as digital supply chains, vertical and horizontal integration with everyone and everything (such as the Internet of things), large-scale mergers and acquisitions, and downstream migration to specialty chemicals - are important.
However, they are only short-term extensions and optimizations for the current mode of operation. They cannot ensure the long-term success of chemical companies because they are stuck in the current industry mindset of seeking new competitive advantages, whether low-cost or unique value or service, by establishing newer, stronger barriers to market entry.
The ecosystem we envision will combine the products and services of today's different industries, such as agriculture, health and nutrition, energy and resources. For example, consider smart healthcare: clinics and healthcare professionals have identified a problem where the chemical industry can provide customized nutritional supplies based on clinical outcomes. Combined with real-time wearable technology, nutrition supply can be tracked. These 10 ecosystems are:
Intelligent human
Smart home
Intelligent office and education
Smart retail, wholesale and distribution
Intelligent medical treatment
Smart city environment
Intelligent Transportation
Smart car
Intelligent production and warehouse
Smart construction site
