“The chemicals sector, which is the backbone of many end-market industries, could be transformed by Industry 4.0, which blends digital and physical advanced technology. These technologies enable "smart" supply chains and factories, as well as new business models, through their dual fields of company operations and growth.”

Almost every produced product is influenced by the chemicals sector in some way. Petroleum and natural gas are transformed into intermediate materials, which are then transformed into items we use every day. The worldwide chemicals industry, which employs more than 20 million people and generates $5 trillion in annual sales, is the backbone of numerous end-market industries such as agricultural, automotive, construction, and medicines. As a result, changes in the chemicals business are likely to have an impact on a variety of other businesses.

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Major Market Highlights:

Solvay has stated that the capacity of its hydrogen peroxide plant in Jemeppe-sur-Sambre (Belgium) will be increased, allowing for increased H2O2 production. The company also intends to enhance the capacity of its plants in Bernburg (Germany) and Voikkaa (Finland) (Finland). These expenditures are in response to increased product demand in Europe, both for existing and new applications.
Kanto Chemical Co., Inc. committed around USD 63.7 million in expanding its production facilities in Taiwan to suit the growing demand of key local semiconductor clients. The annual output of semiconductor products will expand from 120,000 to 200,000 tonnes at this facility.
Cabot Microelectronics purchased KMG Chemicals (US) and became the North American region's biggest chemical distributor of semiconductor consumable materials. Cabot's existing portfolio will be supplemented by this acquisition, which will expand customer touchpoints with leading semiconductor manufacturers.
Conclusion: Industry 4.0 will bring several opportunities in the chemical industry

As firms move away from the pay-by-the-ton revenue model and focus on providing value-added products and services to their customers, Industry 4.0 will certainly have an impact on how they run and expand their operations. The decisions firms make today, as well as the activities they commit to in the coming years, will determine how quickly and successfully they perform.

Chemical firms can plan their Industry 4.0 journey and identify ways to connect their digital and physical assets across different stages of the value chain if they have a strong grasp of their strategic imperatives.

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