Industry Challenges and Complexity
The challenges and opportunities faced by the chemicals industry have never been greater. Whether it is achieving sustainability goals, addressing cost pressures, fulfilling elevated customer needs, or navigating supply chain disruptions, chemical companies are dealing with an unprecedented level of complexity. Actions taken include investments to achieve sustainability goals, such as new low-carbon process technologies, the development of bio-based products, and product development for chemicals for electric vehicle mobility and recyclable plastics.
With regards to supply issues, the sourcing of many critical raw materials coming only from China for the chemicals industry, with these shortages underway in early 2020, exposed vulnerabilities in the production strategies and supply chains in almost every manufacturing segment. This has resulted in local economies being supportive of increases in domestic production or manufacturing in neighboring countries, such as Mexico, or other low-cost countries, such as India.
Industry volatility and challenges have also elevated the importance of customer relationships. Customers want the flexibility to purchase on their own terms and have high expectations of personalization, automation, and seamless transactions. In sum, customers expect a “frictionless experience.” Yet, chemicals purchasing is inherently complex, with significant differences between commodity and specialty buyer requirements. Also, many companies lack the capabilities and data to create the experience that their customers want and need.
Our Specialty Chemicals Experience
At Kline, the chemicals sector is our legacy business and remains one of our top areas of expertise. We have experience across a diverse list of technical specialties – from antioxidants to UV absorbers, as well as formulated specialties, and from agricultural chemicals to water management chemicals, fine chemicals and excipients. Kline draws upon team knowledge, proprietary databases, and forecasting and predictive analytics to support our product and consulting service offering. Our key practice areas are: