At the 2023 FlexPO+ (now incorporated into the ADI Forum), Uday Turaga, CEO, ADI Analytics, provided insight on the challenges of decarbonization in the chemical industry, a hard-to-abate sector. The challenge of decarbonizing the entire chemical industry would present immense cost challenges. The entire industry faced price inflation to decarbonize, with carbon credit prices needing to rise drastically. Then-current market prices could not accommodate the high decarbonization costs.
Despite the high costs, there was growing interest in CO2 utilization to produce various chemicals, though technical and commercial viability varied. Companies were also actively exploring bio-based feedstocks as fossil fuel alternatives. This push for sustainability was driving deeper industry collaborations, moving beyond traditional R&D scouting. Partnerships were key examples of combined efforts to develop new sustainable processes and value chains for lower-carbon products. However, the chemical industry faced a significant challenge in decarbonizing.
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ADI is a prestigious, boutique consulting firm specializing in oil and gas, energy transition, and chemicals since 2009. We bring deep expertise in a broad range of markets where we support Fortune 500, mid-sized and early-stage companies, and investors with consulting services, research reports, and data and analytics, with the goal of delivering actionable outcomes to help our clients achieve tangible results.
We also host the ADI Forum that brings c-suite executives together for meaningful dialogue and strategic insights across the oil & gas, energy transition, and chemicals value chains. Learn more about the ADI Forum.
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