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Shaping The Future of Chemicals in APAC
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- The Asia-Pacific Chemicals sector is witnessing trends that are shaping its future:
- Continued growth, led by rapid industrialization and urbanization: China and India are driving demand for chemicals in consumer goods and electronics, as well as demand for specialty chemicals in personal care, food and household products.
- Environmental sustainability as a competitive advantage: regulatory pressures are encouraging the adoption of green chemistry, biodegradable products and renewable chemicals, while governments push forward circular economy initiatives promoting recycling and waste reduction.
- Need for diversified supply chains: Following vulnerabilities exposed by the Covid-19 pandemic and the impact of geopolitical tensions, businesses in the sector are grappling with challenges to manage supply chain pressures while navigating through an era of innovation.
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