MARKETING FOR SPECIALTY CHEMICAL COMPANIES

Calibrating marketing endeavors so the right messages reach the right customers at the right time can be a significant challenge. Marketers in the specialty chemicals industry are keeping their eyes on the following issues to ensure they're providing value to their customers.

Spotlight

The Plastics Group of America

The Plastics Group has been custom-compounding Polifil® polypropylene-based reinforced resins for over 40 years. While also a broker and distributor, we are primarily an asset-based manufacturer, capable of custom-compounding resins to the physical, mechanical, and thermal specifications your application requires.

OTHER ARTICLES
Chemical Technology

Global polyolefins for the rest of 2021: supply to lengthen as demand muddle continues

Article | July 14, 2022

SOMEHOW, despite the still very serious container freight shortages that have limited imports, buying sentiment seems to have weakened in the European polyolefins market, according to my outstanding ICIS colleague, Linda Naylor.

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Chemical Technology

Resin and Polymeric Binders for Inks

Article | June 6, 2022

The market size for polymeric and resin binders in the global printing ink marketwas estimated to be over 1,200,000 MT in 2020, with a CAGR of about five percent. A major driver of this growth comes from the packaging industry, due to increases in consumer spending and online shopping, as well as demand for processed and packaged foods and beverages. In addition, increased use of water-based inks is promoting market growth, off-setting environmental and health concerns regarding solvent-based inks in addition to strict environmental protection policies. Water-based inks are projected to overtake solvent-based inks due to environmental regulations, the reduction of volatile organic compounds (VOCs) in the pressroom, and improvements in overall print quality. Ink formulations are complex mixtures, consisting of four basic component classes: pigments, polymeric binder resins, solvents or an aqueous dispersant media, and additives, such as surfactants, waxes, and rheology modifiers that enhance print quality. The purpose of the resin binder is to disperse and carry the ink pigment to the substrate, stabilize the pigment and additives dispersion to prevent settling, and provide print properties such as ink transfer behavior, setting, and drying characteristics. The binder also contributes surface appearance and gloss, strength and flexibility, chemical and solvent resistance, and also rub resistance. Ink binders can be categorized into the following polymer and resin types: acrylics, polyurethanes, polyamides, modified resins, hydrocarbon resins, and modified cellulosics.

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Chemical Technology

Key Trends in the Digital Transformation of the Chemical Industry

Article | August 8, 2022

The chemical business is intricate, with numerous sub-sectors dealing with various challenges. Thus, there are some differences in the sector's main areas of digitalization. For instance, while specialty chemicals with smaller batches but larger profit margins are concerned with improving quality, large factories are concentrated on accelerating throughput speed. To be able to react to quick and repeated changes in demand, supply, and working circumstances, however, every plant must optimize output, reduce waste, improve safety and sustainability, and become more nimble. Therefore, the Industrial Internet of Things (IIoT), artificial intelligence (AI), and cloud computing are expected to be the three most popular applications for digital transformation during the coming two years. Key Trends Production Optimization The first and most valuable use cases of digitalization in chemical plants center on production optimization through improved equipment performance, process automation, remote and predictive monitoring, and simplified maintenance. Chemical factories, which often provide basic chemicals for use as end products in other sectors, have a special responsibility to maintain consistently high product quality. However, doing so can be challenging given the significant variations in raw material supply and quality. In addition, as process engineers can change the mix on the fly in reaction to fluctuations in quality, feedstock, or ambient temperatures, better data and analytics enable finer and more frequent adjustments. Lowering Waste The main advantage of digitally transformed plants so far has been cost reduction. The price volatility of raw materials is a problem for the chemical production sector because customers naturally want constant low prices. Minimizing waste is critical since facilities must contend with rising energy costs. Analytics tools that monitor fluctuating raw material prices aid factories in negotiating the best deals with suppliers and preparing in advance for price spikes. The risk of oversupply is reduced since plants can prepare the proper quantities of various products thanks to more precise demand predictions. Sustainability, Compliance, and Safety The chemical industry is heavily regulated as a result of the quantity of hazardous chemicals and the number of end-use industries that rely on it. Businesses are adopting digital transformation to boost safety awareness, reduce emissions and dangerous flare incidents, and guarantee a transparent and accurate audit trail. Plants that quickly adopt digital solutions for remote monitoring, supply chain visibility, waste reduction, production optimization, raising their safety profile, and opening up new opportunities will profit from higher profits and increased revenue, whereas those that hesitate for too long risk failing in the long run.

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Chemical Technology

Ways Your Chemical Company Can Benefit From Digitization

Article | July 20, 2022

The chemical industry is evolving. The marketing, purchasing, and selling of chemicals are being affected by forces in the market, with digitization unquestionably having the most significant impact. Many of the existing digitizing models have likely already been given some thought and then rejected. Chemical businesses are currently conducting pilot projects or starting to gradually scale up their digital initiatives after moving past the proof-of-concept stage. Although this past year brought many difficulties, it also provided an opportunity to revise and re-evaluate foundations moving forward. The Great Reset, as the World Economic Forum has dubbed this time period, is illuminating how the chemical industry might leverage digital technologies to advance. Whether prompted by governmental requirements or consumer desires, chemical businesses' net-zero ambitions will necessitate new expenditures throughout the whole chemical value chain. As a result, back-office costs must be as efficient as possible to free up money to pay for those investments while keeping a profit. Consumer pull The most essential requirements for the success of a new product are a solid understanding of customer needs and wants, the competitive climate, and the makeup of the market. The primary factors that influence the needs of the consumer are price, timing, and quality. Therefore, companies create ongoing procedures and plans with these three factors in mind to better serve client needs and grow their market share by regularly creating new products. Technology pushes The influence of digital technology is constantly growing. One of the foundational elements of 21st-century sources of growth is data-driven innovation. There are numerous items and procedures in the history of innovation that were the result of an accident or careful forethought. Vast volumes of data, or "big data," are being produced and used as a result of the convergence of numerous phenomena, including the growing migration of socio-economic activities on the Internet and the decline in the cost of data collecting, storage, and processing. Large data sets are becoming an essential resource for the economy, supporting the development of new markets, procedures, and goods while also generating substantial competitive advantages. For example, a billion customers can now access broadband at a reasonable price because of the digital world's supporting infrastructure. In addition, cloud computing and the enormous amount of information processing equipment it needs are developing swiftly, and low-cost connected gadgets are being introduced into every industry. Economic benefits The financial gains that can be realized through digitization are genuine. The new digital technologies and businesses have seen an influx of cash, and the public markets are rewarding early adopters with record values. The effects of digitization are spreading swiftly throughout every business. Digitization is the changing of life and work as a result of new technologies, not only their acceptance. Much like earlier technologies, modern emerging technologies like the cloud and big data quickly become part of businesses' operations. Unknown to many, this is having a much more significant impact on the industry that makes these tools as well as on customers. Digitalization that derives from and includes strategic business objectives can greatly benefit chemical firms. Cost savings of roughly 30 to 40 percent can already be made on average today. Additionally, in certain situations, digitalization aided in improving service quality and affected the bottom line by, for instance, enabling new business models. On average, platform-driven digitization projects pay off after 18 months.

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Spotlight

The Plastics Group of America

The Plastics Group has been custom-compounding Polifil® polypropylene-based reinforced resins for over 40 years. While also a broker and distributor, we are primarily an asset-based manufacturer, capable of custom-compounding resins to the physical, mechanical, and thermal specifications your application requires.

Related News

NGOs file suit over transparency of TSCA new chemicals programme

Chemical Watch | March 18, 2020

A coalition of NGOs has sued the US EPA over an alleged lack of transparency in the TSCA new chemicals programme, which "thwart[s] the ability of the public to be informed and to provide input". According to a complaint filed by five environmental nonprofits in federal court today, the EPA has operated its TSCA premanufacture review process in a "black box, denying the public information to which they are legally entitled". Having access to timely information, they contend, is necessary to ensure the members they represent "are able to provide input on the potential risks of new chemicals and the need for protections from those risks prior to completion of EPA’s reviews." And they therefore have asked the court to ensure that the EPA complies with TSCA’s disclosure provisions, including by requiring that it:

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ACC to Trump, governors: Keep chemical industry going during coronavirus crisis

S&P Global | March 18, 2020

The US chemical industry's trade group told President Donald Trump and state governors this week that its sector must maintain operations as the coronavirus outbreak spreads to ensure supply of chemicals needed for disinfectants, plastics for food preservation and medical equipment, and staples like diapers and soap. "The role of chemistry is particularly important today, as chemicals enable countless products that will be needed to support good hygiene and treat those who are infected with the coronavirus in the weeks and months ahead," American Chemistry Council President and CEO Chris Jahn said in a letter to Trump and governors late Tuesday. Efforts to hinder the spread of coronavirus have included cancellations of major sporting events, concerts, conferences, parades, and other large gatherings, as well as closures of bars and limiting restaurants to takeout and deliveries. Companies have increasingly sent employees to work from their homes, while hospitals, grocery stores, and drug stores work to keep up with demand for care and products.

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How small chemical company leaders are dealing with the coronavirus

C&EN | March 17, 2020

As measures to contain the coronavirus—SARS-CoV-2—sweep across the US, the heads of privately owned chemical and instrument companies find themselves in uncharted territory trying to keep their companies going and their employees safe. C&EN reached out to CEOs of several such firms to learn what they are doing to keep business moving forward. We heard stories about setbacks, as expected supplies didn’t come through, but also small triumphs, as needed safety equipment was finally found. Overall, these leaders are keeping a close eye on supplies while planning for the real possibility that orders will drop in the coming months. Keeping staff healthy and maintaining continuity in customer service are the top priorities at Boron Specialties. “We are a pretty small facility, seven people &on-site&, so as best as we can we’re isolating,” CEO and founder Beth Bosley says.

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NGOs file suit over transparency of TSCA new chemicals programme

Chemical Watch | March 18, 2020

A coalition of NGOs has sued the US EPA over an alleged lack of transparency in the TSCA new chemicals programme, which "thwart[s] the ability of the public to be informed and to provide input". According to a complaint filed by five environmental nonprofits in federal court today, the EPA has operated its TSCA premanufacture review process in a "black box, denying the public information to which they are legally entitled". Having access to timely information, they contend, is necessary to ensure the members they represent "are able to provide input on the potential risks of new chemicals and the need for protections from those risks prior to completion of EPA’s reviews." And they therefore have asked the court to ensure that the EPA complies with TSCA’s disclosure provisions, including by requiring that it:

Read More

ACC to Trump, governors: Keep chemical industry going during coronavirus crisis

S&P Global | March 18, 2020

The US chemical industry's trade group told President Donald Trump and state governors this week that its sector must maintain operations as the coronavirus outbreak spreads to ensure supply of chemicals needed for disinfectants, plastics for food preservation and medical equipment, and staples like diapers and soap. "The role of chemistry is particularly important today, as chemicals enable countless products that will be needed to support good hygiene and treat those who are infected with the coronavirus in the weeks and months ahead," American Chemistry Council President and CEO Chris Jahn said in a letter to Trump and governors late Tuesday. Efforts to hinder the spread of coronavirus have included cancellations of major sporting events, concerts, conferences, parades, and other large gatherings, as well as closures of bars and limiting restaurants to takeout and deliveries. Companies have increasingly sent employees to work from their homes, while hospitals, grocery stores, and drug stores work to keep up with demand for care and products.

Read More

How small chemical company leaders are dealing with the coronavirus

C&EN | March 17, 2020

As measures to contain the coronavirus—SARS-CoV-2—sweep across the US, the heads of privately owned chemical and instrument companies find themselves in uncharted territory trying to keep their companies going and their employees safe. C&EN reached out to CEOs of several such firms to learn what they are doing to keep business moving forward. We heard stories about setbacks, as expected supplies didn’t come through, but also small triumphs, as needed safety equipment was finally found. Overall, these leaders are keeping a close eye on supplies while planning for the real possibility that orders will drop in the coming months. Keeping staff healthy and maintaining continuity in customer service are the top priorities at Boron Specialties. “We are a pretty small facility, seven people &on-site&, so as best as we can we’re isolating,” CEO and founder Beth Bosley says.

Read More

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