Overcapacity or Opportunity? Critical Chemical Decisions Shaping 2026 with Steve Lewandowski and Adrian Calcaneo of OPIS - Ep. 253

Uncertainty is fading and M&A activity is heating up in the chemicals and materials industry for 2026. Host Victoria King Meyer speaks with Jon Glapa of Grace Matthews about why the year ahead is shaping up to be strong for dealmaking. They discuss how greater strategic clarity, market stability, and disciplined capital deployment are spurring renewed confidence among buyers and sellers. Victoria and Jon explore the contrasting approaches of private equity and strategic buyers; the pitfalls mid-market companies face in M&A preparation, and actionable leadership advice for chemical executives. The conversation centers on the need for early preparation, customer focus, and a clear five-year vision as keys to navigating the evolving landscape of deals and growth. Subscribe to The Chemical Show on YouTube Victoria and Jon expand on the following topics:  Inside Chemical M&A: What makes a company an attractive target   Navigating uncertainty and how leaders managed 2025’s volatile market   Key drivers behind deal valuations and multiples   Private Equity vs. Strategics: Who’s winning chemical industry deals?   Preparing your business for future transactions  Killer Quote: "I tend to think of uncertainty as the enemy of M&A. You can navigate through certain dynamics, but when uncertainty increases, it becomes more and more challenging." – Jon Glapa  ***Don’t miss an episode: Subscribe to The Chemical Show on your favorite podcast player.  ***Like what you hear? Leave a rating and review. ***Want more insights? Sign up for our email list at https://www.thechemicalshow.com  Sponsored by:World Petrochemical Conference by S&P Global on March 23-27, 2026.Use the code ChemShowWPC26 at wpc.spglobal.com

The dramatic rise of AI, shifting geopolitics, and industry overcapacity are putting energy and chemicals at a crossroads. Victoria Meyer sits down with Steve Lewandowski and Adrian Calcaneo of Chemical Market Analytics to unpack how these forces are driving volatility and change across global markets. From increased US exports of natural gas liquids to oversupplied chemical sectors and the challenges facing Europe and Asia, the discussion lays out the most immediate pressures—and potential responses—for the industry. The episode features a candid look at rationalization needs, the evolving role of integrated oil and chemical businesses, and how AI is influencing energy use and operational strategy. It’s an essential listen for industry professionals navigating today’s shifting landscape and planning for what’s next. Subscribe to The Chemical Show on YouTube Register for the World Chemical Forum with code: CHEMSHOW15 Victoria, Steve and Adrian discuss the following:  The force shaping industry direction Adapting to a shifting business landscape Building stronger consumer connections Evolving approaches to product effectiveness Navigating today’s competitive environment  Killer Quote: "For me, in chemicals, more rationalizations are going to be announced. It's just impossible not to happen because cash flow is just too big of a problem right now. No matter where, where oil goes, you know, those guys running heavier feeds are still going to be weak on margin. ... You’ve got to survive today, but you’ve also got to plan for tomorrow. So don't lose sight of things coming, you know, in the future." — Steve Lewandowski  ***Don’t miss an episode: Subscribe to The Chemical Show on your favorite podcast player.  ***Like what you hear? Leave a rating and review. ***Want more insights? Sign up for our email list at https://www.thechemicalshow.com 

Science continues to shape the cleaning products industry, but trust and pragmatism are driving real decisions. Host Victoria King Meyer reports back from the American Cleaning Institute’s 100th annual conference, highlighting five essential themes impacting chemical and cleaning product businesses. From scalable sustainable solutions and the power of consumer-driven labeling to the need for clearer regulatory pathways, industry leaders are focused on connecting chemistry and biology to practical needs. These insights provide a smart look at how cleaning product companies are balancing innovation, consumer expectations, and regulatory hurdles as they work to grow and adapt in 2026.  Victoria examines these topics in this week: The force shaping industry direction Adapting to a shifting business landscape Building stronger consumer connections Evolving approaches to product effectiveness Navigating today’s competitive environment   Killer Quote: "So if I was going to talk about one overall theme, and this is the theme that's going to run through everything I talk about today, it's science." - Victoria Meyer Subscribe to The Chemical Show on YouTube  ***Don’t miss an episode: Subscribe to The Chemical Show on your favorite podcast player.  ***Like what you hear? Leave a rating and review. ***Want more insights? Sign up for our email list at https://www.thechemicalshow.com  Sponsored by:World Petrochemical Conference by S&P Global on March 23-27, 2026.Use the code ChemShowWPC26 at wpc.spglobal.com

From investment banking to the CEO seat at LSB Industries, Mark Behrman joins Victoria Meyer to discuss strategic transformation, market dynamics, and leadership in the chemical industry. Hear how LSB evolved from a traditional industrial conglomerate to a leading North American ammonia and nitric acid producer through operational integration, a focus on people, and strong customer partnerships. They also cover how LSB is approaching digitalization, AI, and sustainability—with a spotlight on their upcoming carbon capture project in Arkansas. Mark shares practical leadership lessons for both seasoned executives and industry newcomers, emphasizing curiosity, culture, and long-term vision.  Victoria and Mark discuss the following:  From Wall Street to CEO: Mark’s unique path to leadership.  How focus and culture reshaped LSB Industries.    Navigating regional dynamics and tariff impacts of Ammonia.   People First: The central role of culture in company success.    LSB’s journey with digital, sustainability, and efficiency. Killer Quote:"It's really all about the people. If you get a really good team of people that have the same common goal, same values, same drive, same level of curiosity, then they just figure out how to get things done." -Mark Behrman Subscribe to The Chemical Show on YouTube  ***Don’t miss an episode: Subscribe to The Chemical Show on your favorite podcast player. ***Like what you hear? Leave a rating and review.***Want more insights? Sign up for our email list at https://www.thechemicalshow.com  Sponsored by:World Petrochemical Conference by S&P Global on March 23-27, 2026.Use the code ChemShowWPC26 at wpc.spglobal.com

Global volatility, trade shifts, and new government policies are reshaping the chemical industry for 2026. Industry leaders Olivier Maronneaud and Pooja Jain from S&P Global join host Victoria Meyer to share S&P’s economic outlook and discuss supply-driven cycles, plant closures, and rising government intervention. They explore how North America, Europe, and Asia are responding to persistent oversupply and evolving plastics and methanol markets, with a look at where future investments may land after today’s capacity wave. The episode covers the urgent need for flexibility—addressing tariffs, changing trade patterns, rationalization, and the ongoing race for scale. The speakers also weigh in on the slowdown in sustainability efforts, regional risks and opportunities, and key market indicators for 2026. Essential listening for chemical leaders navigating strategy, investment, and fast-moving policy changes.  Victoria, Olivier, and Pooja explore the following topics: 2026 Outlook: S&P Global's view on global economic impact to chemicals How producers are responding to oversupply Tariffs and new policies are redrawing global chemical trade routes. How chemical investment strategies are changing Current state of circularity and sustainability  Killer Quote: "This investment wave has a center point in China. It's originating from China. But what happens in China doesn't stay in China. It kind of disrupts everywhere.” -Pooja Jain  Subscribe to The Chemical Show on YouTube  ***Don’t miss an episode: Subscribe to The Chemical Show on your favorite podcast player. ***Like what you hear? Leave a rating and review.***Want more insights? Sign up for our email list at https://www.thechemicalshow.com Sponsored by:World Petrochemical Conference by S&P Global on March 23-27, 2026.Use the code ChemShowWPC26 at wpc.spglobal.com

Geopolitical shifts, emerging technologies, and changing business models are reshaping risk for chemicals, energy, and mining companies as they look ahead to 2026. Host Victoria Meyer explores the top risk trends impacting these sectors with firsthand insights from Marsh industry leaders including Kimberly Mann, Bill Kost, Cynthia Hazard, Steve Horstkamp, and Raoul Munoz after attending the Marsh North American Energy Conference. Discussions range from the rising importance of M&A and evolving credit risks, to the critical role of social license and geopolitics in mining, as well as the proactive management of environmental liabilities. The conversation also addresses the transformative impact of AI—not just as a potential disruptor, but as a catalyst for new job opportunities and operational efficiencies. Victoria and guests highlight the need for organizations to build adaptive, collaborative, and forward-thinking risk strategies across business functions. With rapid change the new “normal,” these insights offer practical guidance for leaders intent on managing uncertainty and building resilience within the chemicals, energy, and mining sectors. Victoria and guests discuss the following: How M&A, market shifts, and geopolitics are reshaping risk in chemicals, energy, and mining for 2026 Why global politics and community buy-in are critical for mining and minerals companies' success The impact of artificial intelligence on jobs, business models, operations, and sector vulnerabilities The growing importance of being adaptive, collaborative, and clear-eyed about risk management Managing workforce transformation, setting AI boundaries, and upskilling for a resilient future  Killer Quote: "When I speak to leaders about transformation, it's not about job loss, it's about job redesign. So they need to be thinking, how do we need to work to be the best ABC company to do what we do? It's taking that redundant low value work, giving it to an AI agent and then really upskilling our employees, the humans to be better at what we do.” - Cynthia Hazard Subscribe to The Chemical Show on YouTube  ***Don’t miss an episode: Subscribe to The Chemical Show on your favorite podcast player.  ***Like what you hear? Leave a rating and review. ***Want more insights? Sign up for our email list at https://www.thechemicalshow.com  Sponsored by:World Petrochemical Conference by S&P Global on March 23-27, 2026.Use the code ChemShowWPC26 at wpc.spglobal.com

Trade policy volatility, supply chain disruptions, and the fast adoption of digital tools are rapidly reshaping marine logistics for the chemical industry. Noushin Shamsili, CEO of NUCO Logistics, joins Victoria Meyer to reflect on the market forces that defined 2025—including overnight tariff changes, ongoing geopolitical conflicts affecting the Suez Canal, and the rebound of the Panama Canal—and shares how these shifts have tested and transformed logistics operations. Victoria and Noushin explore the critical importance of compliance, the cautious integration of AI in chemical logistics, and strategies for companies to build resilience in uncertain times. They also discuss leadership lessons learned during a year of change—from strengthening customer engagement and team communication to advocating for rigorous internal trade compliance, setting the stage for smarter, more responsive logistics in 2026. Additional Links:  How NUCO Logistics Pivoted During The Pandemic With Noushin Shamsili Innovative Logistic Solutions With Noushin Shamsili Of NUCO Logistics Victoria and Noushin cover the following topics: Why 2025 was surprisingly strong for executive searches and transformation-focused hiring in chemicals. How talent shortages are impacting early-career professionals and senior leaders. 2026 hiring outlook: specialty roles, streamlined leadership, and the push for digital and sustainable growth. Navigating the US-Europe pay gap and international recruiting challenges. How leaders can quantify results, grow networks, and build cross-functional skills.  Killer Quote: "In terms of customer engagement, I've been a big advocate of asking them and talking about the importance of paying more attention to the trade compliance in house and what they have in terms of being audit ready. Because of the fact that international logistics and trade compliance is not just another ticking a checkbox, but it has become an essential part of the business." - Noushin Shamsili Subscribe to The Chemical Show on YouTube  ***Don’t miss an episode: Subscribe to The Chemical Show on your favorite podcast player.  ***Like what you hear? Leave a rating and review. ***Want more insights? Sign up for our email list at https://www.thechemicalshow.com  Sponsored by:World Petrochemical Conference by S&P Global on March 23-27, 2026.Use the code ChemShowWPC26 at wpc.spglobal.com

Chemical industry professionals turned out in record numbers to hear insights from top leaders, with Peter Huntsman’s interview on innovation, learning, and the regulatory landscape named the most popular episode of the year. Host Victoria Meyer breaks down 2025’s Wrapped highlights, sharing a data-driven look at global listener demographics, preferred audio platforms, and the surprising fact that Taylor Swift tops the musical charts for Chemical Show fans. Explore the year’s standout episodes—from market updates with S&P Global and ICIS to deep dives on personal care ingredients and the critical importance of cybersecurity for operations with Robert M. Lee. Hear how leaders such as Michael Lefenfeld are transforming legacy businesses, and discover what your peers are reading and listening to. Plus, get a preview of what’s ahead in 2026, including the show’s fifth anniversary and next year’s The Chemical Summit in Houston.  Additional Links:  Peter Huntsman Discusses Innovation, Leadership, and Regulatory Environments In Chemicals Personal Care Ingredients Market Trends with Sunanda Desai of Kline + Company 2025 Chemical Market Update With Kurt Barrow & Tony Potter Of S&P Global Transforming Hexion: CEO Michael Lefenfeld on Innovation, AI, and Leading With Customer Focus Dragos CEO Robert Lee On Bridging The Gap In OT Cybersecurity For Critical Industries Subscribe to The Chemical Show on YouTube  Victoria explores the following topics: Discover who tunes in, where they listen, and how The Chemical Show fits into everyday life. 2025’s Best Episodes: Highlights from top guests like Peter Huntsman, expert market updates, and cybersecurity deep-dives with Rob Lee. The growing impact of YouTube and changing audio habits among chemical professionals. Market trends, innovation, regulations, and personal care ingredients driving conversations in chemicals. Building connections through summits and events, plus a look ahead to the show’s fifth anniversary celebration.  Killer Quote: "I'm really thankful that you've been part of the Chemical Show this year and looking forward to another great year together in 2026. So thank you and happy holidays.” - Victoria Meyer  Sponsored by:World Petrochemical Conference by S&P Global on March 23-27, 2026.Use the code ChemShowWPC26 at wpc.spglobal.com

Unprecedented transformation is shaping the chemical industry's talent landscape as companies prioritize digitalization and commercial fluency over traditional experience. Victoria Meyer is joined by Lisa Brantley, Head of Client Consulting and Executive Search for the Americas at Mercuri Urval, to discuss how global market shifts, AI, and structural change are redefining what chemical executives need for success in 2025 and beyond. Victoria and Lisa break down the widening talent gaps, the strategic importance of cross-functional leadership, and the rising demand for interim leaders and specialized roles. The conversation highlights the nuances of recruiting in North America versus Europe, effective use of LinkedIn for career mobility, and actionable guidance for succession planning. These insights help chemical industry professionals understand how to prepare themselves and their teams for the growth cycles ahead. Victoria and Lisa discuss the following topics: Why 2025 was surprisingly strong for executive searches and transformation-focused hiring in chemicals. How talent shortages are impacting early-career professionals and senior leaders. 2026 hiring outlook: specialty roles, streamlined leadership, and the push for digital and sustainable growth. Navigating the US-Europe pay gap and international recruiting challenges. How leaders can quantify results, grow networks, and build cross-functional skills.  Killer Quote: "I would challenge a leader who might be part of this discussion to think about, okay, who am I building up in my organization to prepare myself for what we know and what we hope is going to be ahead in the next three to five years?" - Lisa Brantley Subscribe to The Chemical Show on YouTube  ***Don’t miss an episode: Subscribe to The Chemical Show on your favorite podcast player.  ***Like what you hear? Leave a rating and review. ***Want more insights? Sign up for our email list at https://www.thechemicalshow.com  Sponsored by:World Petrochemical Conference by S&P Global on March 23-27, 2026.Use the code ChemShowWPC26 at wpc.spglobal.com

Global oversupply, uncertain demand, and tough cost structures are reshaping the chemical industry, leaving many companies facing unprecedented challenges. John Stekla, Director at Parin Resources, joins host Victoria Meyer for a frank conversation about the realities facing chemical producers, traders, and buyers as the industry moves into 2026. They examine the drivers of margin compression, how U.S. and global players are making difficult operational choices, and why even the industry’s cost advantages aren't a guaranteed ticket to success. Victoria and John also discuss shifting strategies among buyers and sellers, the implications of recent structural changes and plant closures, and how companies are preparing for what could be several more years of pressured results. Despite the near-term headwinds, John underscores the long-term value of the U.S. cost position and the cycles that have always defined chemical markets, sharing practical insights for leaders seeking to navigate uncertainty and position their businesses for the future. Additional Links: Conversations On The Propylene And Olefin Market With John Stekla The State Of The Petrochemical Industry Post Hurricane Ida With John Stekla Victoria examines the following topics: Global chemicals face excess supply, flat demand, and rising competition. Companies are focusing on efficiency and cost-cutting to survive shrinking margins. The industry is restructuring with asset shutdowns and tough make-or-buy decisions. U.S. cost advantage persists, but fuels new competition as exports rise. Lessons from past cycles highlight the need for readiness and adaptability.  Killer Quote: "The bright and shiny thing really is ... the cost position that can't be reproduced anywhere in the world ... That puts us in a great position to take advantage of the demand when it bounces back. And it will, without a doubt. We're always in cycles and you could argue it's an eight or ten year cycle, but we've been through this before and we're in a very strong position to weather it." — John Stekla Subscribe to The Chemical Show on YouTube  ***Don’t miss an episode: Subscribe to The Chemical Show on your favorite podcast player.  ***Like what you hear? Leave a rating and review. ***Want more insights? Sign up for our email list at https://www.thechemicalshow.com  Sponsored by:World Petrochemical Conference by S&P Global on March 23-27, 2026.Use the code ChemShowWPC26 at wpc.spglobal.com