VIDEO: EPCA ’16: New business strategies required amid chaotic global economy

02 October 2016 14:01 Source:ICIS News

BUDAPEST (ICIS)--Chemical companies need to adopt new business models as today’s chaotic global macroeconomic and political conditions cause long-term changes to chemical markets, according to consultant Paul Hodges of International eChem.

Persistent slow global economic growth coupled with more self-sufficiency in China and overcapacity in oil and chemicals production are causing major structural changes. CEOs need to develop innovative, service-driven business strategies to survive and thrive, says Paul Hodges, chairman of the research and consulting firm.

Hodges was speaking on the side lines of the 50th European Petrochemical Association meeting in Budapest.

Read Paul Hodges’ article “Hope is not a strategy” in the 26 September edition of ICIS Chemical Business which is available at the conference in EPCA delegate bags.

By Will Beacham