EPCA '12: Chemical industry must innovate to survive - Crotty

08 October 2012 10:17  [Source: ICIS news]

BUDAPEST (ICIS)--The chemicals industry must innovate and continuously drive forward to survive in a rapidly changing world, INEOS Olefins and Polymers chief executive Tom Crotty said on Monday.

“In a world where the pace of change seems to continuously accelerate, an industry that fails to keep pace with change simply fails,” Crotty said in a speech to delegates at the official opening of the 46th European Petrochemical Association (EPCA) annual meeting.

“Our ability to innovate is dependent on and limited by the talent of our people,” said Crotty, who is also president of the EPCA.

He highlighted population growth, sustainability and the financial meltdown as three areas that that the industry needed to address through innovation. 

Crotty said providing for a world of 9bn people – the population estimate by 2050 – would be a “huge challenge” for the industry but could be achieved by “harnessing our talents and harnessing our technology".

The annual EPCA meeting runs from 6-10 October.

By: Graeme Paterson
+44 20 8652 3214

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