SOCMA report finds companies ‘bullish’
A new report by SOCMA and Vault Consulting, the Specialty Chemicals Industry Census, has found that speciality chemical companies in the US “remain bullish despite the uncertain landscape”. Key findings include:
* About 93% of respondents expect an increase in revenue growth and 83% expect an increase in capacity in the next three years
* Over 67% have capital expansion plans in place.
* Markets driving revenue growth within the next three years include performance materials (81% of respondents), agrochemicals (49%) and APIs and excipients (47%)
“Despite the pandemic and other crucial factors impacting the specialty and fine chemical sector in 2020, the SOCMA census reinforces the significance of the specialty chemicals industry to economic growth, both on the national and international stages,” said Jennifer Abril, SOCMA president & CEO SOCMA members can download a copy of the census in the member portal, while non-members can obtain a copy of the census by contacting Paul Hirsh at [email protected]