Challenges of the chemical industry: status quo 2024

Which challenges is the chemical industry facing in 2024?

China’s dominance on the chemical market, demand for more sustainable product portfolios, net-zero climate goals and a decreasing production demand are only a few of the many problems chemical companies must navigate.

In his detailed report “Challenges of the Chemical Industry 2024: A Status Quo Analysis” that I authored for 5-HT Chemistry & Health, I investigate and discuss various key elements that are currently taking a hold on the struggling chemical industry.

To emphasize the influence of some of these aspects, several exemplary cases for specific companies or countries/regions are included:

- Germany as a model for the struggling European chemical industry

- The European Green Deal as a regulatory initiative for a net-zero future

- BASF as a simplified calculation model for necessary investments towards a sustainable industry

- Localization and specialization as (seemingly) important factors for maintain growth.

Interested in learning more? Read the full article on the 5-HT blog.

This is the first article of a series highlighting current aspects of the chemical industry. Additionally, I plan to release a yearly update on this challenge-focused report. So, if you think there’s something missing or a trend, I should keep an eye on, let me know and write my an e-mail.