The 2020 Specialty Chemicals Industry Census is Now Available!
The Specialty Chemicals Census establishes key micro-level benchmarks that are critical to companies in 2020.
As part of the association’s strategic focus on building commercial growth opportunities, SOCMA developed the Specialty Chemicals Industry Census in collaboration with Vault Consulting, LLC. The resulting data will be disseminated through SOCMA’s ChemSectors program.
Key findings of the 2020 SOCMA census include:
Approximately 93 percent of respondents expect an increase in revenue growth, and 83 percent expect an increase in capacity in the next three years.
More than 67 percent have capital expansion plans in place.
Markets driving revenue growth within the next three years include: Performance Materials – 81 percent, AgroChem – 49 percent, and API/Excipients – 47 percent.
Almost 35 percent of companies view sustainability in the context of business continuity.
About 61.5 percent train employees in-house, with 38.6 percent using both in-house and external sources.