PODCAST: Virus vaccine could be years away so pivot now for permanent changes in demand

BARCELONA (ICIS)–An effective coronavirus vaccine could be years away so chemical companies must pivot their business strategies to address permanent changes in demand patterns.

• Science suggests effective vaccine for coronavirus could be years away
• Huge technical challenges for scale up plus access in developing countries
• We must get used to permanent changes to chemicals end use markets
• Aerospace, automotive may never recover
• Chemical companies need thorough bottom-up analysis of impact on demand
• Big jump in unemployment will drive local job creation through local supply chains
• Virus and trade war will drive creation of two trading blocs centred on China and US
• US and allies could lose access to fast-growing emerging markets
• Carbon taxes and circular agenda will accelerate recycling, local supply chains
• Focus on products which help reduce waste, such as food waste
• Pandemic means companies are even less prepared for Brexit than before

Listen to this podcast interview with Paul Hodges chairman, International eChem and author of the pH Report; and John Richardson ICIS senior consultant, Asia.

Editor’s note: This podcast is an opinion piece. The views expressed are those of the presenter and interviewees, and do not necessarily represent those of ICIS.

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Read Paul Hodges ICIS Chemicals and the Economy blog

Read John Richardson’s Asia Chemical Connections blog

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Interview by Will Beacham