Customer Value Chain Compression to Drive Digital Transformation in the Global Plastics Industry, 2020

Customer Value Chain Compression to Drive Digital Transformation in the Global Plastics Industry, 2020

Innovative Digital Business Models are Facilitating an Enhanced Customer Experience, thereby Creating New Growth Opportunities for Industry Participants

RELEASE DATE
07-Dec-2020
REGION
Global
Research Code: MFA4-01-00-00-00
SKU: CM01835-GL-MT_25016

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Description

This Frost & Sullivan study tracks digital developments in the global plastics industry and seeks to identify future opportunities for further use of digital technology.

Findings are presented as domains of digitalisation (the domains of digitalisation indicated in this study are slightly different from those in other Frost & Sullivan digital transformation studies due to complexities in representing the digital plant domain). These domains are summarised as follows:
• Digital Innovation investigates the use of digital technology in research and development and new product innovation.
• Digital Supply Chain tracks the use of digital technology in supply chain integration to provide clarity and visibility across functions through the seamless transition of data.
• Digital Business Model covers the strategies designed to make a company’s overall business process more digitalised.
• Digital Plant looks at how plastic manufacturing plants can benefit from digital technology.
• Digital Product investigates the potential for adhesives and sealants (as a product) to be complemented by digital offerings.

This study explores technologies that enable the digital transformation; current activity among plastics processors, compounders, and raw material suppliers in the digital domains; and future scenarios in an increasingly digitalised world. It combines insights from published sources and conversations that were primarily conducted with leading plastics companies, distributors, and service providers. Frost & Sullivan research indicates that digitalisation provides several growth opportunities for companies in this industry. The use of innovative digital technologies in business models will enable easier management of key operations that involve deep and wide databases, customer interactivity, and diverse applications and verticals. Frost & Sullivan expects such innovative business models to take centre stage over the next 5-7 years.

Polymer manufacturers are pushing for digital innovation in the industry with a focus on the development of a digital ecosystem to boost overall efficiency and reduce CAPEX and OPEX and envision new revenue streams through digital tech. Packaging, automotive, and construction represent the top 3 end-use sectors for plastic products, and they represent more than 65% of the global plastic demand. The digitalisation of these sectors will create new opportunities for polymer manufacturers.

Table of Contents

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on Digital Transformation in the Global Plastics Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Digital Transformation—Introduction

Digital Transformation—Domains

Plastics—Product Family

Percent Revenue by End-use Sector—Plastics Industry

Digital Transformation—Facilitates the Achievement of the Manufacturing Industry’s Top Ten Business Goals

Digital Innovation

Digital Innovation—Case Studies

Digital Innovation—Case Studies (continued)

Digital Innovation—Case Studies (Technology Providers)

Digital Supply Chain

Digital Supply Chain—Case Studies

Digital Plant

Digital Plant—Case Studies (Polymer Manufacturers)

Digital Plant—Case Studies (Compounders and Processors)

Digital Plant—Customer

Digital Business Models

Digital Business Models—Case Studies

Digital Business Models—Case Studies (continued)

Digital Products

Digital Products—Case Studies

Key Digital Domains

Domains of Digitalisation

Digital Transformation—Top Plastics Companies

Future Predictions

Conclusions

Growth Opportunity 1: Polymer Producers’ Investments in Digital Products for Enhanced Visibility among Customers, 2020

Growth Opportunity 1: Polymer Producers’ Investments in Digital Products for Enhanced Visibility among Customers, 2020 (continued)

Growth Opportunity 2: Digital Business Model Innovation by Polymer Producers for Growth Partnerships, 2020

Growth Opportunity 2: Digital Business Model Innovation by Polymer Producers for Growth Partnerships, 2020 (continued)

Global Plastics Industry—Key Forecast Criteria

Revenue Forecast—Plastics Industry

Partial List of Acronyms and Expansions Used in the Study

List of Exhibits

Legal Disclaimer

Related Research
This Frost & Sullivan study tracks digital developments in the global plastics industry and seeks to identify future opportunities for further use of digital technology. Findings are presented as domains of digitalisation (the domains of digitalisation indicated in this study are slightly different from those in other Frost & Sullivan digital transformation studies due to complexities in representing the digital plant domain). These domains are summarised as follows: • Digital Innovation investigates the use of digital technology in research and development and new product innovation. • Digital Supply Chain tracks the use of digital technology in supply chain integration to provide clarity and visibility across functions through the seamless transition of data. • Digital Business Model covers the strategies designed to make a companys overall business process more digitalised. • Digital Plant looks at how plastic manufacturing plants can benefit from digital technology. • Digital Product investigates the potential for adhesives and sealants (as a product) to be complemented by digital offerings. This study explores technologies that enable the digital transformation; current activity among plastics processors, compounders, and raw material suppliers in the digital domains; and future scenarios in an increasingly digitalised world. It combines insights from published sources and conversations that were primarily conducted with leading plastics companies, distributors, and service providers. Frost & Sullivan research indicates that digitalisation provides several growth opportunities for companies in this industry. The use of innovative digital technologies in business models will enable easier management of key operations that involve deep and wide databases, customer interactivity, and diverse applications and verticals. Frost & Sullivan expects such innovative business models to take centre stage over the next 5-7 years. Polymer manufacturers are pushing for digital innovation in the industry with a focus on the development of a digital ecosystem to boost overall efficiency and reduce CAPEX and OPEX and envision new revenue streams through digital tech. Packaging, automotive, and construction represent the top 3 end-use sectors for plastic products, and they represent more than 65% of the global plastic demand. The digitalisation of these sectors will create new opportunities for polymer manufacturers.
More Information
No Index No
Podcast No
Author Aditya Krishnan
Industries Chemicals and Materials
WIP Number MFA4-01-00-00-00
Is Prebook No
GPS Codes 9100-A2,9869-A2,9595,9870