The chemical industry comprises the companies that produce industrial chemicals. Central to the modern world economy, it converts raw materials (oil, natural gas, air, water, metals, and minerals) into more than 70,000 different products (Wikipedia)
Chemical companies that can grow and transform their businesses into more sustainable, customer-centric products could drive toward higher margins and profits. They may also be critical in advancing the industry's sustainability agenda. Digitalization is helping the chemicals industry generate value by ensuring efficient and effective customer interactions and enabling new, value-generating business models that are “fit for purpose” from the customer’s perspective. the future of the chemical industry depends on companies working together to form, orchestrate, and position circular economic networks.
Read MoreThe emergence of the chemical industry as an independent branch is associated with the industrial revolution. The first sulfuric acid plants were built in Great Britain in 1740 (Richmond), France in 1766 (Rouen), Russia in 1805 (Moscow Province), and Germany in 1810 (near Leipzig). The development of the textile and glass industries prompted the initiation of soda production. The first soda plants were built in France in 1793 (near Paris), Great Britain in 1823 (Liverpool), Germany in 1843 (Schönebeck), and Russia in 1864 (Barnaul). In the mid-19th century, artificial fertilizer plants appeared in Britain (1842), Germany (1867), and Russia (1892). By this century, companies in the chemical industry include large, medium, and small companies located all over the world. Companies grew with their sales of chemical products, and many companies had sales greater than $10 billion dollars, and for some of these companies the chemical sales represented only a portion of their total sales
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