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Table 1 Literature review on factors determining the future of the European chemical industry

From: Scenarios for the future of the European process industry - the case of the chemical industry

Factors influencing future developments

Heinzelbecker [15]

KPMG [7]

Deloitte and Cefic [20]

ATKearney [21]

Accenture [3]

Shift of chemical production and demand to Asia and the Middle East

Yes

Yes

Yes

Yes

Yes

Increasing cost pressure and (oil) price volatility, esp. on commodities

Yes

Yes

Yes

Yes

No

Volatile business environment

No

No

No

Yes

No

Moving down the value chain

No

Yes

Yes

Yes

Yes

Pressure to innovate products, services, manufacturing technologies and business processes

Yes

Yes

Yes

Yes

Yes

Shifting R&D to Asia; global diffusion of market and technology knowledge

No

No

No

Yes

Yes

Domestic advantage of European companies continues

Yes

Yes

No

Yes

Yes

New market players from the Middle East and Asia, state-controlled companies due to access to cheap raw materials

No

Yes

Yes

Yes

Yes

Consolidation of chemical industry by mergers and acquisitions and alliances

Yes

Yes

Yes

Yes

No

Increasing demand for customer-specific solutions

No

Yes

No

No

Yes

Sustainability-orientation

Yes

Yes

Yes

No

Yes

Focus on asset utilisation and core competencies

Yes

Yes

No

Yes

Yes

Maintaining know-how and attracting talent

No

Yes

No

Yes

Yes

Regulation and activism, e.g. in risks and safety

Yes

No

Yes

Yes

No

Commitment to organic feedstock, substitution of oil-based products

Yes

Yes

Yes

Yes

Yes