At the 2023 ADI Forum (formerly FlexPO+), Uday Turaga, CEO, ADI Analytics, presented a cautious outlook for the chemical industry, citing significant headwinds like uncertain demand, elevated energy costs, and high interest rates. He noted a global economic slowdown impacting key markets and a substantial decline in European petrochemical capacity due to soaring natural gas prices.
Despite these challenges, Turaga highlighted “Mega Trends” as long-term opportunities, including the energy transition (batteries, solar, green hydrogen), electric vehicles, and 5G expansion. These trends were poised to create new markets for plastics and polymers, with supportive policies like the Inflation Reduction Act driving localized supply chain development.
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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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