The fine & specialty chemical industry is extremely diverse, encompassing pharmaceuticals, dyestuffs, food additives, agrochemicals, polymer additives, flavors and fragrances, and various chemical intermediates, to name just a few.
While the Covid-19 pandemic has pointed up the fine & specialty chemicals industry’s role as enabler of solutions to deal with a global health crisis – like essential ingredients for pharmaceuticals, vaccines, laboratory products, disinfectants or face coverings –, it could also trigger a transformation of the industry. The coronavirus crisis has put sustainability at the forefront in food production, resource and energy consumption, sanitation, healthcare, urbanization and mobility, and the chemical industry is interwoven with all.
More than ever, the industry’s role is vital, and it must prove its sustainability in terms of ecology as well as its business models and supply chains. Thus, topics like portfolio optimization, outsourcing of manufacturing and development, the implementation of digital technologies, the fostering of innovation, and closer collaboration within the supply chain are on the agenda of many fine & specialty chemicals companies.