The chemicals sector has a very bright future ahead of it according to research by Strategy&, part of the PwC network. In their report, Chemical Trends 2018-19, they highlight how companies in the global chemicals industry are using advances in technology to their advantage to change their overall growth strategies and lead themselves into more profitable futures.
‘Significant profit opportunities await chemicals companies that are able to lead in digitizing products and services, providing collaborative sales channels for customers, and generating R&D breakthroughs in nanomaterials…’ Strategy& says, hypothesizing how incorporating the Internet of Things (IoT) into a wider digitization strategy could make up for lost revenue and drive more than 10% sales growth for chemicals companies.
In a McKinsey & Company article published in 2017 called Chemicals 2025: Will the industry be dancing to a very different tune?, they highlight how the chemicals industry has benefitted tremendously from China’s economic growth over the previous two decades. They sound a warning though, saying ‘we estimate that the last decade’s 3.6 percent growth rate for petrochemicals may go down by between 0.5 and 2.0 percentage points over the next ten years, depending on assumptions for regional GDP growth’.
There are so many reasons for companies operating in the chemicals sector to be cheerful, though. Global chemicals projects continue apace such as the INEOS’ propylene plant in Antwerp; Shell’s world-class ethane cracker plant in Pittsburgh; Borealis, Nova and Total’s ethane steam cracker on the Gulf Coast, and many others.
Chemicals specialists may have to overcome a challenge on the horizon to ensure their projects remain on time and don’t go under budget though; a shortage of chemicals talent that may hit their chemical engineering recruitment strategies.
The chemicals sector is just one of many which is facing a skills and talent shortage, especially when it comes to engineering. With so many chemical specialists looking to expand into new global territories and embark on new chemicals projects, they need to make sure that their chemicals engineering recruitment strategy is the best it can be to attract stellar engineering talent.
The chemicals sector is extremely complex and is an industry that benefits greatly from experienced heads. Sadly, like a lot of other similar sectors – and as highlighted in the Chemical Industry Journal – the loss of experienced staff due to early retirement complemented by a lack of young, upncoming talent is something the industry has to be wary of.
The Journal underlines that some companies are recognising the trend and are running and supporting continuous learning problems as part of their chemicals engineering recruitment strategies. Governments are helping; the UK announced a £52 million investment in new and emerging science talent in 2014, for instance, but many in the sector feel more needs to be done to plug those talent gaps.
‘The global chemical industry is entering an era when companies will need to start viewing and valuing people as one of their most critical assets,’ Deloitte wrote in its The talent imperative in the global chemical industry report, September 2015. We think the best way for chemical operators to find those people is with a strong approach to chemicals engineering recruitment.
Airswift’s workforce solutions experts have transformed the talent acquisition and mobility strategies of companies in the energy, process and infrastructure sectors for over 40 years, and also have vast experience in the chemicals industry.
Our chemicals engineering recruitment specialists are passionate about transforming the lives of workers in the chemicals sector and those that need the absolute best talent for their chemicals projects.
Airswift works with companies across the world. We have 60 interconnected recruitment offices worldwide including the Middle East, Europe, Africa, the CIS region, North and Latin America and others.
Our offices are supported by super hubs in Houston, Texas, Manchester, UK, and Singapore to enhance our presence and ensure our global talent pools consistently feature the best available talent for international chemicals projects.
We take pride in our 96% contractor satisfaction rate, and have achieved that by providing clients with speed, agility and mobility to help them recruit strong chemical specialists.
Whatever chemicals projects your company works on and however you’re looking to expand in the future, whether nationally or internationally, it’s essential to have the right chemicals expertise at hand at all times to complement your growth strategy and make sure your chemicals projects are the best they can be.
Our team will help refine and optimise your chemicals engineering recruitment strategy with: