Editorial July-2019 The Face or the Phase
The chemical industry is on crossroads. It’s difficult for people to maintain reasonable margins. Most chemical markets have reduced their cost to increase more efficiency. Developing breakthrough products are a success for few emerging companies delivering more shareholders value than it’s upstream suppliers & downstream customers. Experience shows that there is no room for complacency. Fortunately new technologies are a boon to the chemical industry. Data analysts are coming up with new models for selling products and building goodwill. Adding new revenue streams is now possible to preserve margins.
The 34th International Exhibition for Specialty& Fine Chemicals (ChemSpec 2019) took place on 26th & 27th June in Switzerland where a total of 378 exhibitors from 27 countries covered the full spectrum of fine & specialty chemicals for various applications & industries. In addition to exhibitors presenting their innovative products there was a conference programme that covered the latest industry trends, opportunities & challenges.
The main objective of ChemSpec is to promote networking. “Chemspec Europe is blessed with a top-class range of highly qualified trade visitors offering a huge pool of industry knowledge and business contacts. By introducing the new Partnering Programme, we want to help attendees capitalise on this potential by offering an innovative matchmaking technology that is easy to use and extremely targeted”, explains LiljanaGoszdziewski, Exhibition Director of Chemspec Europe.
In order to encourage international innovation and boost up the exhibitors & enhance international awareness of pharmaceutical companies, the China Chamber of Commerce for Import and Export of Medical and Health Products has held the activity of "Top 100 International Pharmaceutical Enterprises"
CPHI conducted a Networking Dinner to share insights and industry peers from all over the world.
Major players in the chemical industry are struggling to bring expansion to their business. In this scenario the major players are coming up with new strategies which can be converted into actionable plans that are:
- Right balance between pricing and volume is necessary to fetch higher profits. Manufacturers will be benefitted if they focus from increasing the volume of sales to improving their pricing.
- One of the best ways to stay on top is to give a new & improved form of the product portfolio. By expanding their product portfolio, manufacturers are moving into forming a great deal of profit.
- Adoption of Digitalization is very crucial in the industry. It has enabled manufacturers to move ahead from just being ‘product sellers’ by optimizing sales & marketing strategies giving a competitive edge to the manufacturers in the industry.
Moreover, we have built a new digital platform for the chemical industry that will help the potential buyers & sellers to expand their business and connect with people all around the world. We have introduced Product Catalog, Buy and Sell Leads & Priority Leads which is a simple portal for people and companies in the chemical industry. Technology is a great medium to connect to people & we want to leverage it for higher profits.
You can also find our magazine available on the portal alongside events, conferences, latest news, interviews, reports & chemical prices subscription models. Visit our new portal ChemicalMarket.net and please drop in your reviews.
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