Chemicals 2024 Predictions
Having spent 20 years recruiting senior leaders and managers across the North West Chemicals industry I believe that we are on the cusp of significant change.
The sector is forecasting to see several key trends in the coming year and following discussions with some senior contacts in the sector over the last month, I wanted to share some overarching themes.
1. Sustainability is imperative: This may sound like ‘a given’, but to state the basics. Expectations for sustainable practices and environmentally friendly initiatives continue to shape the industry. This is projected to intensify efforts toward reducing carbon footprints, in energy, minimising waste, and developing eco-friendly production methods. With stricter regulations and heightened consumer awareness, companies are investing in clean technologies and sustainable processes to align with these demands. The rising awareness of ‘greenwashing’ and reactions of consumers (and employees) who are becoming increasingly vigilant, and educating themselves to recognise and reject greenwashing tactics employed by some businesses is a significant step forward. Companies must not only implement ESG commitments, but they must also be held accountable to them.
2. Advanced Technologies and Digitisation could help to capture market share: Embracing technological advancements remains a cornerstone for growth in this sector. The use of automation and AI-driven analytical devices in manufacturing processes are expected to streamline operations and enhance efficiencies. This shift toward digitisation not only improves productivity but also allows for predictive maintenance, reducing downtime and boosting overall output.
3. Supply Chain Resilience remains a focus: The global disruptions experienced in recent years have underlined the importance of resilient supply chains. Next year it’s predicted that the North West Chemicals sector is anticipated to focus on improving localised production, (besides localised skills), and strategic partnerships to mitigate risks and ensure a consistent supply of raw materials. Many companies we have spoken to are investing in technologies that provide real-time visibility into their supply networks, enabling fast adaptations if required to market changes. There’s a definite sense of having been caught out once before, that companies are being far more proactive to minimise repeat occurrences.
4. Bio-based and Renewable Chemicals importance continues to rise: As sustainability continues to take centre stage, the demand for bio-based and renewable chemicals is expected to surge. Investments in research and development for bio-derived raw materials and renewable energy sources are likely to increase. This shift again not only aligns with environmental goals but also responds to consumer preferences for products made from sustainable sources.
In short, for the first time in about four years I believe 2024 holds great promise for the North West Chemicals industry.
Driving sustainability, embracing advanced technologies, strengthening supply chains, and focusing on renewable products are pivotal to driving growth and maintaining competitiveness.
Of course, you may ask what all of this has to do with recruitment, but in my view, people are central to the success of any initiative. I believe companies that proactively invest in skills and their people will be far more resilient, and with the likely competitive advantage needed in-house to drive innovation and sustainability. For anyone in Chemicals or related sectors wishing to consider the availability of highly qualified professional skills in the North West even on a speculative basis, I would be delighted to share insights of the North West senior talent ‘market’ to help you prepare for the year ahead.
