According to the American Chemistry Council’s (ACC) Mid-Year 2020 Chemical Industry Situation & Outlook, chemical volumes will contract by 9.3% this year, while shipments will decline by 13.5% on the back of a shrinking GDP and demand in key end use industries. Next year, they will grow by 12.3% and 14.5% respectively as the economy rebounds.

Dr Nina Kaun, product director, chemical industry solutions, at Elsevier, looks at how the Covid-19 pandemic could help to drive digitalisation

While many industries have taken advantage of technology developments in recent years, the chemicals and materials sector has been slower to digitalise. This attitude is now changing: 87% of chemicals and materials executives believe companies will ‘lose their edge’ or ‘face extinction’ unless they embrace digital transformation, including adopting more automation and applying artificial intelligence (AI) to some processes.