Innovating in the face of crises: the recent CHEMonitor trend study shows how the German chemical industry is reacting to the war in Ukraine, climate change, and the impacts of the pandemic.
The chemical industry is facing huge challenges from current political and economic events as well as from their market environment. 75 percent of respondents to CHEMonitor (Download here), Germany’s trend and opinion barometer for the chemical industry, assess the current challenges as potentially business critical.
The effects of the Ukrainian war show clearly in the study: measures to secure the business were rated significantly more important by respondents who answered after the beginning of the war (36% compared to 21% before Feb. 24).
Leaders in the chemical industry face them with a call-for-action: more than four out of every five respondents find an opportunity in the challenges: they plan to build their company’s strengths in the current market environment with digitalization (63%), entering new markets (56%), and more resilient supply chains (54%) in the next 12 months.
CHEMonitor regularly assesses conditions in the German chemical industry and forecasts future investment and employment trends. The panel for the current 38th edition was surveyed in the period February to March 2022.
Learn in CHEMonitor #38 (in German only) how chemical industry leaders assess these questions:
- Which challenges do the chemical companies feel most affected by?
- What are the companies focusing on in the next 12 months?
- What are their sales and earnings expectations?
- How do chemical managers rate site factors such as feedstock availability, market attractiveness and infrastructure and logistics?
- In which areas do the companies want to build up and reduce resources?
Download CHEMonitor #38 (in German only).
