The latest survey of UK chemical and pharmaceutical companies reported a strong start to 2016 and an optimistic feeling about the future.
The Chemical Industries Association quarterly business survey of member companies showed 95% saying sales volumes remained at previous levels or increased, 90% saying exports remained at previous levels or increased and 87% saying capital expenditure and research and development spending remained at previous levels or increased.
Companies were optimistic for the year with 88% expecting to maintain or grow sales performance, 95% to maintain or grow exports, 87% to maintain or grow R&D spending and 85% to maintain or grow capital expenditure. Steve Elliott, Chief Executive of the Association, said: “We would never be complacent but our member companies appear to be bucking the trend. The strong start to 2016 and the positive feelings about the year ahead are encouraging for our sector and for the UK economy.
“Despite official data which has reported low growth, poor manufacturing outlook and a trade deficit, the chemical and pharmaceutical sector is working hard to meet the needs of customers in the UK and across the globe.” The survey also asked what companies saw as threats to their performance. Higher raw material and energy costs topped the list, with increased competition from China, shrinking markets, increasing costs of legislative compliance and uncertainty over the UK’s membership of the European Union ahead of June’s referendum all being highlighted.
The chemical and pharmaceutical industry adds £15 billion of value to the UK economy every year from total annual turnover of £50 billion. This represents 10% of the value added by the whole of manufacturing. It is the UK’s largest manufacturing exporter with annual exports of close to £50 billion.
Let there be light
Researchers have used quantum states to mix a molecule with light at room temperature, which it is hoped will help the exploration of quantum technologies and provide new ways to manipulate the physical and chemical properties of matter. Previous attempts to mix molecules with light have been complex and only achievable at very low temperatures, but the researchers, led by the University of Cambridge, have developed a method to produce ‘half-light’ molecules at room temperature.
Leading women gather
Leading women from the UK chemical industry assembled at Chester Race Course for the second Annual Samuel Banner Ladies Polo Day. Companies from the across the UK were represented, in what has become a very popular women’s networking event, organised by the Banner Chemicals Group.
Honour for team
A team of researchers from GSK and the University of Edinburgh have won the Royal Society of Chemistry Teamwork in Innovation Award winners for 2016. The award was given for the outstanding collaboration between industry and academia to discover medicines for treatment of acute pancreatitis. The Teamwork in Innovation Award recognises outstanding examples of teamwork in promoting innovation through industry–academia partnerships. The prize is awarded annually and the winners are chosen by an independent selection panel.