Special Report Sustainable models in the fine and speciality chemicals industry Shifts in industry landscape goals is steadily gaining acceptance in R. RAJAGOPAL he global fine and the speciality this industry, and in the process have E-mail:
[email protected] chemicals business is a multi- been driving innovations in feedstocks, Tproduct, multi-technology, multi- R&D, manufacturing, marketing and business functions. Sustainability prac- location enterprise spread across di- supply chains. New advances in chemi- tices are now being adopted in diverse verse economic zones. It is a high pre- cal sciences and engineering, operating segments of this industry with increas- mium, knowledge-intensive component models and resource management have ing use of sustainability methodologies, of the chemical value chain, catering to accelerated the development of sustain- tools and reporting practices. This has a multitude of societal and industrial able products and solutions. In this con- also brought about shifts in structures, needs. Regulatory, sustainability and text green chemistry and engineering procedures and systems to manage consumer forces have been constantly tools have been instrumental in several strategic sustainability goals within the shaping the business fundamentals of commercially successful sustainable industry. Perhaps, the most profound this industry in diverse ways. Climate innovations. change has been the proactive approach change, regulatory compliance and cus- adopted by the industry in meeting sus- tomer preferences remain the top moti- In the last decade, the concept of tainability challenges. vators for action for the global fine and sustainability and that it makes busi- speciality chemicals industry. ness sense has led to a new agenda in The fine and speciality chemicals the fine and speciality chemicals busi- industry has been grappling with a va- Integration of social and envi- ness.