Top 3 Chemical Industry Trends In 2020

1. CHEMICAL INDUSTRY TRENDS – A NEW FUTURE AHEAD  The future of the chemical industry is going to transform and change drastically. Even  the companies which are connected to chemical industries need to bring evolution.  They need to maintain competitive behavior in their work culture and take every  challenge as an opportunity to grow in the new market.  New trends in the industry are changing the work culture, the factors that were running  the industries a decade back. The expertise in the technology, a perfect business model,  feedstock proximity, and technical sustainability are no longer into the trends. This  scenario has been already discussed globally related to the upcoming generations of  chemical industries.  The Top 3 Trends of chemical Industry shortlisted as the most prominent ones are as  follows.  The Ascent of Circular Economy:    The aspiration to stay in business is nothing new, as earlier methods used a streamline of  business that sustains the amount of raw material supplied, and then the process is  worked accordingly; the future is focusing more on a circular economy. Another issue  that arises is of sustainability, as the impact of the increasing emission is affecting the  environment, the disposal and reusing of the by-products are encouraged.  1. The circular economy is all about producing goods on a hand and continuously  regenerating the resources to keep the process flowing infinitely. The method of the  ecosystem can be explained as Raw material production, chemical production,  application of the product by the end-user. It is highly adapted from local to regional to 

2. the global level of economy and is proving extremely beneficial in the reduction of  manufacturing cost, efficient and low energy-requiring.    The focus of a circular economy thus is to maximize the recovery, recycling, and  reusability by the end-user. We can take the example of a Bio-Based Plastic industry,  which is entirely reusable, recyclable and are biodegradable, so disposing of with other  garbage is also safe. Switching to a renewable energy source for meeting the energy  requirement of the state is also a great idea. Solar energy or Wind Energy can be the  alternatives for improving the efficiency of the circular economy.    2. Bringing up Digitalization:    Almost every industry is relying on technology to work for them and reduce human  labor. Machines don’t get tired and don’t make mistakes as humans do. Digital working  has many benefits, like the speed of accessing data, unlimited storage, and the pace of  using technology in work has made it quite evident that the future is digital. The benefits  of Digitalisation will be enormous, including Low cost of storing data, precise results on  access, a higher level of connectivity, and processing the analysis data in huge numbers.  Digitalization offers companies with capturing critical data and drawing sights to get  accurate output at a lower cost. Even maintenance of the machinery can be scheduled  in the machine, so as the time for preventive measurement turns up, the company is  ready for the situation. This scheduling the maintenance helps in minimizing downtime  and gives accurate inventory planning.  Block-chain, Machine Learning, and the Internet of Things give a catalytic action to the  chemical industry trends. Chemical companies had to find a connection in the IT  Company to improve their business program and evolve as an innovative system. The  integration of the Chemical and IT brings Innovation and optimizing business value. It is  expected to increase revenue by 9% more in the industry.  Some examples are currently used in the industry today and are expected to arrive.  Artificial Intelligence can be used in matching a human level of finish, coloring and  refining the minor disruptions in the product. The technology of precision working is  highly useful in the aerospace industry, automotive, marine, and piping industry.  3. Enabling Globalization and Innovations:  As the industry grows more prominent, the minds of innovators build new concepts and  new business models. They take ideas from various parts of the world. The technology or  concept used in one part of the world is implemented in other industries, with some  innovations. And this is picked by another, and the cycle goes on. This scenario has finally  resulted in achieving the speed of growing, formulation, servicing, and responsiveness in  business to catch with the latest trends in Chemical Industry.  Every business developer in the chemical industry focuses on maintaining a competitive  edge and plays a dynamic role in world technology. Few are concentrated on using  digital trends to stay put in the fundamentals of business processes, and the whole 

3. others rely on using classic methods to improvise their business. They work on Planning,  Supplying, and Responding to the product being produced to keep a lasting bonding  with the partner companies.  The companies earlier focused only on developed countries like the US, and China is also  shifting to Asian Countries now and will be expanding even more in the future. Chemical  Manufacturers believe in building relationships with the commodities and intermediates  in other companies.  The example of globalization can be seen in the usage of Automotive OEMs, which are  developed under innovators used for helping in the reduction of cost and cycle time.  Many new genres of plastics are collected and came into existence globally. Acquisitions  and Merging with others became a significant aspect of which led to some success to  companies. But now the companies are interested in smaller investments with short or  mid-term goals that have become the trend.  MOVING FORWARD  We can conclude that a solid base for the new industry today is the focus to prosper  better amongst the competition. The whole scenario relies on putting faith into 4th  generation IT infrastructure with skilled labor for the job.  Many business models have come up across the globe, and the process of automation  has been exceptional. The new technologies launched by companies are now turning  feasible and scalable everywhere. Shanti Inorgochem is one of the top sodium bisulphite  producers and it is recognized as a leading ​sodium bisulphite company ​in the chemical  industry. One of the best exporters of sodium bisulphite products in UAE, Kuwait,  Malaysia, Venezuela, and North America. Effectively working on incrementing these  future needs for the market and industry development, taking them to new heights.