he chemical industry is one of the most crucial industries in the world, directly linked to many other major industries. According to a report by Precedence Research. The global market of basic chemicals will grow to $979.63 billion by 2032 at the annual growth rate of 3.9% Chemicals Export: Where .
1. Low economic growth Chemicals Export: Where
The OECD has corrected estonia phone number data its 2024 global economic growth forecast to 2.7%, down 0.2% from June, facing the limited sustainability of global trade due to fragmentation of the world economy and fundamental structural problems such as low fertility and aging populations. As the decline is expected to continue into 2024. Companies need sustainable survival strategies to adapt to a prolonged period of slow growth. Thus, rapid transformation of business portfolios is essential in response to uncertainty.
2. Climate changes are on the agenda
According to the UN, we how to create a photography portfolio have entered an era of ‘global boiling’ rather than ‘global warming’. This was the warning voiced by UN Secretary-General António Guterres after the global average temperature in July 2023 was the highest since records began. Given the increased environmental regulation in various countries due to the climate crisis, adaptation to environmental challenges will be a critical determinant of growth and the ability to sustain economic growth and business activity.
3. Geopolitical shifts and decarbonization
As protectionism and phone number united states of america geopolitical conflicts jeopardize supply chain operations, reconfiguring global supply chains and diversifying supplies are becoming critical survival strategies. Major countries are expanding regulation, applying strict environmental standards and investigating subsidies to protect domestic industries. This trend is expected to continue into 2024 and become an overarching issue of the entire value chain rather than an isolated problem. In response, companies need to be strategic in sourcing,