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Chemical Heritage Fdn.
The Chemical Industry at the Millennium: Maturity, Restructuring, and Globalization
Peter H. Spitz
The global chemistry industry is big business and growing every year. But impressive growth has not recently impressed investors, and increasingly both individuals and money managers have turned to other areas of the economy for better returns. A 4-percent growth rate throughout the 1990s was not enough to keep U.S. chemical companies from seeking opportunities in more rapidly growing regions with low-cost feedstocks, and the U.S. trade balance in chemicals turned downward in the late nineties; by 2001 chemical imports exceeded exports. Why has an industry that provides so many of the essentials of modern life been so severely challenged? In The Chemical Industry at the Millennium, Peter Spitz and a team of industry experts look at this complex and fascinating industry. Concentrating on basic and specialty chemicals, chapter authors examine many of the trends and market factors that have affected the chemical industry in the recent past. The book offers an insiderís view of the restructuring and reengineering crazes and the improvements and roadblocks offered by information technology and the Internet. Other factors that came into play include the impact of environmental regulations and globalization, and the financial communityís demand for greater shareholder value, and each is discussed in turn. The Chemical Industry at the Millennium is a must read for industry professionals and anyone else interested in the changes and challenges facing a great and essential industry.
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