The chemicals industry is responding to more dynamic change than ever before, which makes it an exciting, yet complex place to be.
The chemical industry is one of the most exposed to the effects of geopolitical and supply chain disruptions. Port congestion, container shortages, skyrocketing shipping costs, and increased energy prices impede the industry's ability to serve its customers effectively and cause a ripple effect on the automotive and electronics industries. The slowing of economic growth and rising interest rates have raised concerns about future demand while producers manage the ever-growing shift towards eco-friendly chemical products and corporate teams respond to the rise in regulation around ESG reporting.
At the same time, the never-ending portfolio transformation which characterizes the industry means companies need to continuously focus on strategy and staying nimble in the M&A arena. Chemical organizations are also increasingly adopting digital tools and upgrading their systems to become more robust and agile during this period of volatility. To remain viable, chemical companies should adapt to a different business environment. The most agile are expected to be best placed to capitalize on the market opportunities.
KPMG firms are a leading provider of advisory, audit, and tax services to the chemicals and materials industry. KPMG professionals understand the new realities of today's chemical industry and have extensive experience working with the world's leading chemicals and performance technology companies.
Contact our experts