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How the Chemical Industry Can Learn from 2020 and Prepare for 2021 

February 25th, 2021 (Updated 03/24/2021)

Duncan Hendy

Chemical Industry – Learn From 2020 and Prepare for 2021 Last year presented a lot of challenges for the chemical industry. Robert Smith, an industry expert at Pricefx, even wrote an article on ideas for what the chemical industry could do to prepare when it was clear that suddenly, “business as usual“ would not be enough to sustain an organization.  Well, it’s almost been a year or so since “lockdown”, “quarantine” and “face mask” became part of our daily vocabulary, so, it’s time we took a look back at 2020 and forward to 2021 and beyond.  We spoke to Martin...

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Insight

What to Expect from Life Sciences – Pricing Trends and Predictions 2020

February 5th, 2020 (Updated 03/23/2021)

Radha Patel
Solution Strategy Ninja at Pricefx

Pricing Predictions and Trends for 2020: Life Sciences  Life Sciences is the umbrella term for companies and research organizations dedicated to improving organism life (human, animal, plant), and includes pharmaceutical, biotechnology, and environmental sciences, among many others.  The Life Sciences industry is in constant flux as breakthroughs continuously disrupt the status quo, impacting the economy and job growth.  Predictions:  According to the Deloitte Global Healthcare Outlook for 2020, global healthcare spending is expected to continue to slow in the short term (as it did from 5.2% in 2018 to 3.2% in 2019, thanks to currency shifts and geopolitical pressures like trade tensions and Brexit). But in the longer term, it is expected to rise, with a compound annual growth rate (CAGR) of 5%,...

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Insight

What to Expect From Industrial Distribution: Pricing Predictions & Trends 2020

February 10th, 2020 (Updated 03/23/2021)

Garth Hoff
Principal Pricing Solution Engineer at Pricefx

Pricing Predictions and Trends for 2020: Industrial Distribution Industrial Distribution is the movement of goods through a supply chain (purchasing, processing, and selling) – from materials producers to end-product manufacturers.   As with most industries in recent years, it is undergoing unprecedented levels of change, with digital transformation disrupting the status quo at every link.  Pricing Predictions: 1. Increased Costs Will Push Prices Up  It is an extremely uncertain time for industrial companies.  Global economic growth has slowed, and the geopolitical and macroeconomic climates are volatile to say the least. In fact, as of November 2019, only 30% of the G-20 countries (which represent around 74% of the global gross domestic product),...

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Insight

What to Expect from the Chemicals Industry – Pricing Trends & Predictions 2020

February 17th, 2020 (Updated 03/23/2021)

Robert Smith & Garth Hoff
Industry Advisor at Pricefx & Global Director of Solution Strategy at Pricefx at

2020 Predictions and Pricing: Chemical Manufacturing    Central to the modern world, the diverse chemical manufacturing industry (across oil, gas, plastics, and chemicals) has seen a tumultuous decade, with macroeconomic and business environmental factors gaining strength.   Looking forward, adaptability will be key.   Predictions for the Chemicals Industry 1. Ongoing Uncertainty and Volatility  On top of the expected uncertainty and volatility in the chemical industry in 2020, COVID-19 has added yet another dimension of uncertainty.  While late 2019 estimates already expected a drop in overall manufacturing levels for 2020, current events have caused a reset on demand expectations in the chemical industry in 2020. While recovery is expected in the second half of 2020, the amount of recovery is very dependent on the downstream markets served and the degree of a resurgence of COVID-19 as...

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