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Chemicals

Essential skills for chemical industry managers.

More than 1 million people work in the industry in the EU alone and in Europe the industry remains in the top 5 largest manufacturing industries by revenues. Estimates put the number of companies above 200,000 spread across the region. In the middle east, there are approximately 1200 companies include a mix of large multinationals and smaller specialized companies. The petrochemicals is key due to oil and gas resources in the region.

Let’s look at some of the issues being faced by the chemical industry:

Geopolitical issues

Sanctions, import tariffs, and political turmoil can disrupt sources of raw materials and markets.

Economic Volatility

Revenues and profitability are volatile because of fluctuations in both demand and supply.

Shortage of the Right Talent

The need for skilled professionals in engineering, chemistry and technology is key, but companies in the industry often point out the shortage of the right people.

Aging Workforce

Another people challenge is an aging workforce in many European countries with a need to develop the right succession planning and knowledge transfer.

Regulatory Compliance

Regulations change and very often are getting more and more complex. This can be both challenging and costly for Chemical companies.

Higher Energy Costs

Increased energy costs across the EMEA are impacting the profits of companies in the industry

Global Competition

With emerging economies like China and India having lower production costs and sometimes less complex regulations, it makes it difficult for EMEA companies to remain competitive.

MCE Recommends

As a manager in the industry, what skills do you need to develop to focus on these challenges?

New Managers in the Chemical Industry

Leadership Skills

Managing Change

Strategy

Project Management

Negotiation and Influencing

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