FLORHAM PARK, N.J., June 1, 2021 /PRNewswire/ -- Today, Datacor, Inc., a leading provider of process manufacturing and distribution software, and the National Association of Chemical Distributors (NACD) released their 2021 State of the Chemical Industry Report, which measures the experiences, challenges and takeaways from 2020, as well as plans and expectations for both their organization and the industry in 2021. The report is based on a survey of 200 industry professionals across job functions and companies. The report also provides a look at how the coronavirus pandemic impacted business and the chemical industry as whole.
Key findings include:
Improving operational efficiency is the top priority of chemical companies in 2021, targeted in technological investments that can help them "do more with less."
Many companies are looking to grow revenue from existing customers in the year ahead, whether by expanding their product line or taking on new suppliers.
Most respondents express a mix of optimism and hesitation about how the new U.S. presidential administration will impact the industry but have hope for the reopening of the economy.
"For chemical and process manufacturers and chemical distributors, 2021 is all about doing more with less," says Sean O'Donnell, chairman of Datacor. "This makes sense in a year of constriction, when the pandemic disrupted national and global supply chains, closed factories, and bound scores of workers to their homes."
"The study represents what's happening in the industry, both strategically and operationally," says Lucinda Schofer, chief operating officer at the NACD. He notes that the survey demographics reflect the makeup of chemical companies, with a smaller number of larger companies and a large number of medium and small organizations, while the breakdown of executives, managers and other job functions provides a balanced cross-section of the industry's view.
The report is available to Datacor customers, NACD members, and other interested parties via the Datacor website.
About Datacor Datacor is a leading provider of process manufacturing and chemical distribution software that helps professionals maximize productivity, use data as a competitive advantage and drive smarter business growth. By remaining a single source of trusted technology, upholding a longstanding reputation as industry experts and serving as a partner in business improvement, we help modern businesses optimize operations and better serve their customers. Learn more at datacor.com.
About NACD NACD and its over 400 member and Affiliate companies are vital to the chemical supply chain providing products to over 750,000 end users. NACD members are leaders in health, safety, security, and environmental performance through implementation of Responsible Distribution, established in 1991 as a condition of membership and a third party-verified management practice. NACD was established in 1971 and is celebrating its 50th anniversary this year. For more information on NACD and how the association is Celebrating 50 Years, visit www.NACD.com.