The global chemical industry is undergoing a rapid shift as the global economy is in a period of flux. The year 2020 was an inflection point for the chemical industry, with the pandemic exposing the industry’s weaknesses and accelerating the formation of new strategies and business models. The unprecedented speed and scale of the crisis brought about a surge in various trends, especially digitalization, which created a host of opportunities for the downstream hydrocarbon industry, and a heightened focus on sustainability.
The adoption of modern digital technologies has not only increased productivity, but also supported the development of new and innovative business ideas. The pandemic further accelerated the drive towards decarbonization, which in turn is supporting several nations’ vision to meet their net zero carbon emission targets. With clean hydrogen gaining traction around the world, it presents a new opportunity for the industry to embark on the journey of energy transition. In response to policy needs and evolving consumer preferences, investors too are taking decarbonization seriously, further intensifying environmental, social and governance (ESG) efforts. Incorporating ESG strategies is helping build competitive advantage and advancing the industry’s sustainability agenda.
The rapidly changing market conditions and sudden disruptions is requiring industry leaders to devise tactics for a new era of growth for alternative feedstocks, waste management and recycling, and developing new circular business models for a sustainable future. Chemical companies are building on their unique strengths and capabilities to redesign an industry backed on sustainability and innovation.
The 16th Annual GPCA Forum will take place from 13-15 December 2022 at THE RITZ-CARLTON, King Abdulaziz International Conference Center (KAICC), Riyadh, Saudi Arabia, and will address the theme, “From Purpose to Action, Shaping a sustainable future with chemicals”. This edition will propagate key messages to redefine the challenges, reinvent strategies to capitalize on market opportunities and reshape a renewed future for the chemical industry, one fuelled with a sense of purpose. Bringing together stalwarts and industry experts from across the globe, this edition will stir strategic conversations, build strong synergies to thrive in a new reality, thus, laying the foundation for a collaborative, sustainable, and successful recovery.
Gulf Petrochemicals and Chemicals Association (GPCA)