The Society of Chemical Manufacturers & Affiliates (SOCMA) released its third annual 2022 Specialty Chemicals Industry Census+ findings, demonstrating a positive outlook and business confidence in the sector despite inflation and other post-pandemic impacts. Chemical manufacturers expected to see continued growth in revenue, according to Paul Hirsh, senior vice president, industry relations.
SOCMA presented a first-hand look of survey findings during an Executive Roundtable, highlighting year-over-year analysis and key takeaways, including:
- Anticipated revenue growth around leading manufacturing processes,
- CapEx and targeted investment strategies,
- Future trends in digital process controls and enterprise resource planning, and
- Land water/air emissions and averages.
“The census data not only points to commercial expansion but also the means by which manufacturers anticipate moving forward with these projects,” said Hirsh. “In the face of ongoing supply chain disruption, companies are focused on procuring starting materials as well as placing greater emphasis on increasing volumes of existing products than in prior years.”
Learn more about SOCMA at www.socma.org.