The Economics of Reliability - Global Chemicals
The dynamic nature of the chemicals market has brought a heightened focus on the need to optimize reliability and asset performance. In this report, our analysts dive into the impact that reliability has on the global chemicals industry through the analysis of the financial and operational data of 18 global chemical companies and identify the key trends that are driving reliability as the demand for chemicals products continues to increase.
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Key Insights from this Report
- Global chemical companies spend $236 billion on reliability initiatives.
- The financial performance of many large chemical companies deteriorated in 2019 and 2020 as revenues and profits both fell from their 2018 highs.
- In response to deteriorating financial performance, chemical companies cut back on capital expenditures, which impaired asset productivity.
- As the macroeconomy continues to recover, chemical companies cut back on capital expenditures, which impaired asset productivity.
The Economics of Reliability: Leveraging Reliability as a Competitive Strategy in Refining, Mining, and Chemicals
Listen to CSO, Jeff Krimmel, discuss the changing economic landscape of the chemical industry and how to leverage reliability as part of competitive strategy. He analyzes Pinnacle’s series of Economics of Reliability reports that explore the impact of reliability on global industries.
