Evonik Oxeno has published its second White Paper on the future of the European petrochemical industry, outlining key levers to help companies stay competitive in this challenging market.
Publication comes at a time when resilience has moved to the centre of the European petrochemical debate.
“Rethinking Resilience” was the theme of last month’s 60th Annual Meeting of the European Petrochemical Association (EPCA) which looked at how Europe can strengthen competitiveness, advance sustainability and maintain global connectivity.
Oxeno’s White Paper contributed to the discussion by identifying and promoting key drivers that companies can deploy to strengthen competitiveness.
The European petrochemical industry is undergoing a profound transformation as market dynamics and geopolitical developments reshape the environment.
At the same time, Europe’s strengths – integrated production networks, decades of process expertise, a highly skilled workforce and close cooperation across value chains – continue to provide a solid foundation for building resilience and creating long-term value.
In the petrochemical industry, resilience is the ability to remain competitive and profitable in the face of disruptions, says Frank Beissmann, Managing Director of Evonik Oxeno GmbH & Co. KG.
“Many of the factors that determine resilience are firmly embedded in our industry. The challenge is to keep strengthening them and to translate them into long-term competitiveness.”
The White Paper identifies levers including efficiency, innovation and Artificial Intelligence, strong partnerships across the value chain and regional production networks to navigate increasingly uncertain markets.
Beyond company level, the White Paper also highlights the importance of a supportive policy framework to enable the industry’s long-term competitiveness across Europe.
“Building resilience is a joint effort,” says Beissmann. “Petrochemical companies must continuously work on their strengths, while policymakers must create a framework that allows Europe to remain attractive for industrial production.”
The White Paper “Building Resilience in the Petrochemical Industry” is available for download here.
