"Ineos is committed to the Indonesian market, and our assets remain consecrated to the needs of the domestic market. In the future, we may look beyond PTA into more downstream molecules."
"The ongoing digital transformation is a pivotal trend in our industry. We remain at the forefront of innovation, constantly refining our digital tools and platforms."
"The main problem of the chemical industry when it comes to offshoring is that it is a capital-intensive industry and the establishment of new operating units is very complex."
"The super peso has been a major challenge for importers and exporters. However, paints manufacturers have benefitted from relatively lower raw material costs."
EXECUTIVE DIRECTOR, ASPRI (ASSOCIATION OF PROCESS INDUSTRY (ASPRI)
"Recent trends in the process industries have been characterized by significant transformations, driven by technological advancements, sustainability goals, and regulatory changes."
"Being able to service this region from Singapore plays out as a significant advantage for us. With the future growth potential of China in question, I believe Southeast Asia will be the beneficiary."
In August 2023, Mexican exports to the US surpassed China for the first time. As companies prioritize securing supply their chains after years of logistics challenges, Mexico has begun to see major benefits. With a spate of new infrastructure projects such as the Interoceanic Corridor of the Isthmus of Tehuantepec coming online in 2023, the country is actively opening itself to investment. The chemical industry, in particular, is positioned for nearshoring-driven growth.