The chemical industry is at a pivotal point where the importance of innovations is on the rise. Despite the growing demand for new chemical products, the industry continues to focus on improving existing products. Accenture has identified six key factors for growth and innovation, emphasizing the need for a paradigm shift in innovation strategy. A central element of this change is the shift from traditional approaches to groundbreaking innovations. Equally important is collaboration with start-ups and the realignment of corporate venturing. The ultimate goal: Adapting to a rapidly changing industry and seizing growth opportunities through genuine innovation.

Customers in the chemical industry are willing to pay more and purchase larger quantities when their requirements are met. Despite the rapid adjustments in the industry, companies face the challenge of understanding and meeting the specific needs of their customers. A central element of this change is the realization that customer satisfaction and loyalty can lead to higher margins and sales volumes. Equally important is adapting to changing customer needs and developing strategies to meet these needs. The ultimate goal: Strengthening customer relationships and maximizing business potential.