The Chemical Industry in a High-Tech, Low-Carbon Future

Since the pandemic, chemical companies are continuing to respond to a consistently turbulent market. Although the U.S. economy is looking more favorable going into 2025 and demand for chemicals is projected to improve, the only thing chemical companies can really be sure of is the continued need to navigate an unpredictable market.

“Every company in the chemical industry will likely be affected by issues related to macroeconomic and geopolitical uncertainties, changing markets, advanced technologies, and new ecosystems,” said David Yankovitz, principal at Deloitte Consulting LLP in a webinar. “It’s clear companies need strategies that will allow them to both weather this uncertainty but also position themselves for long-term competitiveness and growth in a high-tech, low carbon future.”

Going into 2025, Yankovitz outlined five key trends experts are watching in 2025: cost efficiency, end markets, innovation, sustainability, and supply chain. Before we talk trends for 2025 and beyond, let’s take a look at the current economic environment for the chemical industry and how that will impact its future.