Release date: 01-10-2020SKU: MSG-GL-COVID19-008
MSG explores the top risks and opportunities impacting the chemical & material sector, owing to the prevalence of COVID-19.
The impact of COVID-19 in the chemical and material spans applications from automotive to medical devices to institutional cleaners. Indeed, almost 96% of manufactured goods contain products of the chemical industry. Thus, the sector with such high economic exposure will definitely impact the virus's prevalence by both the initial and the sustained changes. Depending upon the course of the COVID-19 pandemic and the effects on economic circumstances, there will probably be both grave threats to vulnerable business models and significant opportunities for growth and transformations in the sector.
MSG’s Chemical & material practice tasked a team to continuously gathering real-time data and trends to develop scenarios, examine market supply chain trends, and recommend no-regret actions to the market players across the entire chemical & material sector, including raw material supply, manufacturers, and distributors. This was primarily carried out through individualized interviews with industry executives, in-depth research, and scenario analyses. Also, there was a strong consensus among the industry executives that "how and where of work" will be deeply impacted; expanding digital abilities and robustness will be one of the key aspects of the company's business models in the sector.
The resulting report provides both a point of view on the implications of the COVID-19 pandemic and a series of recommendations for chemical companies as they begin thinking of how to navigate from "recovery" to "thriving" in a post-pandemic world.
To read more about how we believe the chemical & material sector can manage the current pandemic scenarios, inqure about our report.
Key Issues Addressed
Considering the COVID-19 impact on the chemical & material industry is carried out through various lenses, and many critical issues identified in the COVID-19 impact strategic insight report include:
• Specific key trends have begun to accelerate due to the crisis, reshaping both demand and supply across industries
• Other trends that probably decelerate or halt due to the COVID crisis
• Trends that are essential before the pandemic and post-pandemic directions to shape the industry
• Key uncertainties and challenges that should be considered in strategy and business planning
• Detailed consideration of scenarios that compare the reach of the pandemic versus the industry impact arising from changes in end-consumer behavior
• A set of both recovery and thrive oriented actions for market participants and players
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