A renewed focus on sustainability

As the chemical industry moves into 2022, strong demand for both commodity and specialty chemicals should keep prices robust throughout the year. The industry could face margin pressures amid raw material cost inflation, which will likely remain high through the first half of 2022.

One of the critical areas of focus for most US chemical companies in 2022 will likely be sustainability and decarbonization. Many chemical companies are expected to increase investment in research and development (R&D) capabilities and leverage advances in decarbonization and recycling technologies to lower their and their customers’ carbon footprint, as well as reduce plastic waste.

Supply chain challenges are acute and still unfolding. There’s no mistaking that manufacturers face near-continuous disruptions globally that add costs and test abilities to adapt. Purchasing manager reports continue to reveal systemwide complications from high demand, rising costs of raw materials and freight, and slow deliveries in the United States. Transportation challenges are likely to continue in 2022, including driver shortages in trucking and congestion at US container ports. As demand outpaces supply, higher costs are more likely to be passed on to customers.

New avenues are opening

The renewable energy sector is ready to branch out. The year ahead promises new growth paths for the renewable energy industry, potentially aided by supportive policies from an administration focused on combatting climate change.

In 2021, the renewable energy industry remained remarkably resilient. Rapid technology improvements and decreasing costs of renewable energy resources, along with the increased competitiveness of battery storage, have made renewables one of the most competitive energy sources in many areas.

Renewable energy growth is poised to accelerate in 2022, as concern for climate change and support for environmental, sustainability, and governance (ESG) considerations grow and demand for cleaner energy sources from most market segments accelerates.

Reference:
2022 Chemical Industry Outlook | Deloitte US

More News
NEW DRUGS (AMENDMENT) RULES,2022 MANDATES QR CODES FOR ACTIVE PHARMACEUTICAL INGREDIENTS
News · 01/07/2022

The amendment makes QR codes mandatory on every active pharmaceutical ingredient. The Amendment Rules will come into force from January 01, 2023.

READ MORE
European Green Deal
News · 01/07/2022

On June 22, 2022, the Commission adopted pioneering proposals to restore damaged ecosystems and bring nature back across Europe, from agricultural land and seas, to forests and urban environments. The Commission also proposes to reduce the use and risk of chemical pesticides by 50% by 2030.

READ MORE
Neoadjuvant Dostarlimab is a promising treatment option in locally advanced dMMR rectal cancer
News · 01/07/2022

According to New York Times, in a small clinical trial, 18 patients took a drug called Dostarlimab for around six months, and in the end, every one of them saw their tumours disappear.

READ MORE
Global recession? Not yet…
News · 02/06/2022

As the war in Ukraine and pandemic disruptions continue to wreak havoc on supply chains, stagflation is here to stay – marked by low growth and high inflation for at least the next 12 months.

The pandemic as well as the war in Ukraine have stifled supply of commodities and goods and upended efficient distribution through global supply chains, forcing up prices of everyday goods such as fuel and food.

READ MORE
Roche develops unique PCR tests to detect the monkeypox virus
News · 01/06/2022

Roche and its subsidiary TIB Molbiol have developed three unique LightMix® Modular Virus kits in response to recent monkeypox virus concerns. Multiple clusters of the monkeypox virus have been reported within the past two weeks in several European countries and North America, which are regions where the virus is not normally found.

READ MORE
Containers pile up in Shanghai port on China’s COVID lockdowns
News · 02/05/2022

The strictest COVID -19 lockdown in China since the pandemic began has resulted in container goods sitting at Shanghai’s port for nearly two weeks.

READ MORE
Could cyber-physical watermarks be the key to pill-level traceability?
News · 01/04/2022

New anti-counterfeit technology, called a cyber-physical watermark, leverages edible fluorescent silk to identify medications.

READ MORE
World economy faces supply hit as China battles Covid
News · 01/04/2022

The global economy — already struggling with war in Ukraine and the stagflation risks it’s fanning — is bracing for greater disruption as China scrambles to contain its worst outbreak of Covid-19 since the pandemic began.

READ MORE
Impact of Oil hitting a seven-year high on world economy
News · 02/03/2022

Oil prices surged past $100 (£74) a barrel to hit their highest level for more than seven years after Russia launched an invasion of Ukraine.

READ MORE