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Digital transformation in the chemical industry

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BRIAN BALMER
Industry Director for Chemicals & Materials, Frost & Sullivan, London, United Kingdom

Digital technologies are developing at an incredible pace and the chemical industry - like all other industries - will see enormous changes as a result.  But digital tech means more than just building a “digital plant.”  For companies in the chemical industry, it can be hard to understand what the ramifications will be from this disruptive technology.

LEADERSHIP

30% of the top chemical companies now have a chief digital officer. Only a year ago, this figure was at 15%; the number has doubled in that short time. Chief digital officers will have a crucial role to play in chemical companies. For many, the position has been created because companies are struggling to understand the ramifications of digital technology on their business and the opportunities this can create.

One major challenge is the sheer diversity of chemical companies, most of which operate across a range of markets from high-volume commodities to very high-value specialties. Each business faces its own challenges.

Digital technology also ...