Digital Transformation in the Global Chemicals Industry

Chemicals and Materials Digital Transformation in the Global Chemicals Industry

Investment in Emerging 5G and Quantum Computing Technologies Drive Transformational Growth


RELEASE DATE
21-Dec-2022
REGION
Global
DELIVERABLE TYPE
Market Research

RESEARCH CODE
PD65-01-00-00-00
SKU
CM01999-GL-MT_27322
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Digital Transformation in the Global Chemicals Industry
Published on: 21-Dec-2022 | SKU: CM01999-GL-MT_27322

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Across various industrial sectors, digitalization has rapidly developed, utilizing several existing and emerging digital technologies, including AI, Big Data analytics (BDA), IoT, machine learning (ML), natural language processing (NLP), robotics, and automation. While the chemicals industry was relatively slow to adopt these technologies, the transformation rate in the industry has increased considerably in the past 5 years.

The global spread of the COVID-19 pandemic has accelerated the digital transformation in the industry to enable companies to rapidly address remote and hybrid working practices, prolonged and sometimes broken supply chains, and changing end-user demands.

Frost & Sullivan, in its March 2018 study, Impact of Digitization on the Chemical Industry, identified 7 domains of digital transformation and provided an overview of enabling digital technologies.

This new study analyzes the market using 6 emerging themes: Digitalization for Sustainability, Empowered Workforce, Digitalization for Innovation, Enhanced Customer Experience, Digital Transformation of Supply Chain, and Transformation because of Emerging Technologies.

Each theme will cover 1 or more of the 7 domains. While attaining operational excellence is at the core of digitalization strategies of larger petrochemicals, chemicals, and formulation companies in this industry, there is a general rise in awareness among organizations about the importance of adopting a holistic approach by placing their internal workforce and end customers at the core of this transformation as well.

Author: Christeena Thomas

Why is it Increasingly Difficult to Grow?

The Strategic Imperative 8™

Impact of the Top 3 Strategic Imperatives on Digital Transformation in the Chemicals Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Key Findings

Background and Introduction

Scope of the Analysis—Digital Transformation Themes

Sectors of the Chemical Industry Value Chain

Digitalization for Sustainability

Empowered Workforce

Digitalization for Innovation

Enhanced Customer Experience

Digital Transformation of Supply Chain

Transformation Because of Emerging Technologies

Global Chemicals Industry Digital Transformation Expenditure Forecast

Introduction

Chemical Industries—Segment Overview

Diversified Chemical Companies—Case Studies

Diversified Chemical Companies—Case Studies (continued)

Diversified Chemical Companies—Case Studies (continued)

Diversified Chemical Companies—Case Studies (continued)

Diversified Chemical Companies—Case Studies (continued)

Additives—Case Studies

Polymers and Resins—Case Studies

Polymers and Resins—Case Studies (continued)

Degree of Digitalization—Chemical Industries

Introduction

Formulation Industries—Segment Overview

Coatings—Case Studies

Coatings—Case Studies (continued)

Coatings—Case Studies (continued)

Coatings—Case Studies (continued)

Coatings—Case Studies (continued)

Adhesives and Sealants—Case Studies

Adhesives and Sealants—Case Studies (continued)

Lubricants—Case Studies

Lubricants—Case Studies (continued)

Lubricants—Case Studies (continued)

Degree of Digitalisation—Formulation Industries

Packaging—Segment Overview

Packaging—Digital Technology Contributing to Circularity

Digital Concepts in Packaging

Digital Concepts in Packaging (continued)

Packaging Companies—Case Studies

Packaging—Other Case Studies

Growth Opportunity 1: Data Monetization

Growth Opportunity 1: Data Monetization (continued)

Growth Opportunity 2: 5G and Edge Computing

Growth Opportunity 2: 5G and Edge Computing (continued)

Growth Opportunity 3: Quantum Computing in R&D and Manufacturing

Growth Opportunity 3: Quantum Computing in R&D and Manufacturing (continued)

Growth Opportunity 4: External Digital Platform Developers can Support Chemical Companies with their Digitalization Goals

Growth Opportunity 4: External Digital Platform Developers can Support Chemical Companies with their Digitalization Goals (continued)

List of Acronyms

Your Next Steps

Why Frost, Why Now?

List of Exhibits

Legal Disclaimer

List of Figures
  • Digital Transformation in Chemicals and Materials: Important Findings, Global, 2022
  • Digital Transformation in Chemicals and Materials Industry: Domains Affected, Global, 2022
  • Chemicals Industry: Digital Transformation Expenditure Forecast, Global, 2019–2029
  • BASF Digital Technologies and Initiatives, Global, 2022
  • Sinopec Smart Factory 2.0: Important Features, China, 2022
  • Sinopec Guangzhou Company: Implementation of Private 5G Network, China, 2022
  • MCC: Main Themes of Digital Transformation, Global, 2022
  • SABIC: Notable Digital Initiatives, Global, 2022
  • Covestro: Notable Digital Initiatives, Global, 2022
  • Digital Transformation in Chemical Industries: Activity of 16 companies* in Identified Themes, Global, 2022
  • Digital Transformation in Formulation Industries: Activity of 17 companies* in Identified Themes, Global, 2022

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Across various industrial sectors, digitalization has rapidly developed, utilizing several existing and emerging digital technologies, including AI, Big Data analytics (BDA), IoT, machine learning (ML), natural language processing (NLP), robotics, and automation. While the chemicals industry was relatively slow to adopt these technologies, the transformation rate in the industry has increased considerably in the past 5 years. The global spread of the COVID-19 pandemic has accelerated the digital transformation in the industry to enable companies to rapidly address remote and hybrid working practices, prolonged and sometimes broken supply chains, and changing end-user demands. Frost & Sullivan, in its March 2018 study, Impact of Digitization on the Chemical Industry, identified 7 domains of digital transformation and provided an overview of enabling digital technologies. This new study analyzes the market using 6 emerging themes: Digitalization for Sustainability, Empowered Workforce, Digitalization for Innovation, Enhanced Customer Experience, Digital Transformation of Supply Chain, and Transformation because of Emerging Technologies. Each theme will cover 1 or more of the 7 domains. While attaining operational excellence is at the core of digitalization strategies of larger petrochemicals, chemicals, and formulation companies in this industry, there is a general rise in awareness among organizations about the importance of adopting a holistic approach by placing their internal workforce and end customers at the core of this transformation as well. Author: Christeena Thomas
More Information
Deliverable Type Market Research
Author Christeena Thomas
Industries Chemicals and Materials
No Index No
Is Prebook No
Keyword 1 digital transformation in chemical industry
Keyword 2 digitalization in chemical industry
Keyword 3 digital transformation chemical industry
List of Charts and Figures Digital Transformation in Chemicals and Materials: Important Findings, Global, 2022~ Digital Transformation in Chemicals and Materials Industry: Domains Affected, Global, 2022~ Chemicals Industry: Digital Transformation Expenditure Forecast, Global, 2019–2029~ BASF Digital Technologies and Initiatives, Global, 2022~ Sinopec Smart Factory 2.0: Important Features, China, 2022~ Sinopec Guangzhou Company: Implementation of Private 5G Network, China, 2022~ MCC: Main Themes of Digital Transformation, Global, 2022~ SABIC: Notable Digital Initiatives, Global, 2022~ Covestro: Notable Digital Initiatives, Global, 2022~ Digital Transformation in Chemical Industries: Activity of 16 companies* in Identified Themes, Global, 2022~ Digital Transformation in Formulation Industries: Activity of 17 companies* in Identified Themes, Global, 2022~
Podcast No
Predecessor MD02-01-00-00-00
WIP Number PD65-01-00-00-00