Energy and Chemical Industry Outlook for 2026 with S&P Global - Ep. 241

Geopolitics, energy volatility, and persistent oversupply are reshaping the global chemical industry as 2025 draws to a close. Victoria Meyer sits down with Kurt Barrow and Andrew Neale from S&P Global to address the forces driving today’s market dynamics, the impact of government policies, and the shifting landscape heading into 2026. They break down how new sanctions, tariffs, and energy transition policies are influencing everything from oil prices and supply chains to chemical production strategies worldwide. The episode explores regional strengths and vulnerabilities, with North America, the Middle East, and China taking leading roles amid rationalization and capacity closures in Europe and South Korea. Kurt Barrow and Andrew Neale share insights on how chemical producers are responding to cost shifts, supply chain resets, and evolving consumer demand. The conversation also previewed the upcoming World Petrochemical Conference and CERAWeek, emphasizing the need for industry leaders to stay agile in response to accelerated change, emerging technologies, and global market imbalances.  Victoria, Kurt, and Andrew discuss the following this week:  Why government action, oversupply, and shifting demand are redefining 2025 in the chemical markets. How new sanctions, oil movements, and policy shifts impact feedstocks and chemical production. Real-world examples of how canal disruptions, freight rate swings, and tariffs are reshaping global sourcing. Regional winners and losers as energy prices, assets, and investments shift across Europe, China, and the US. Key strategies for chemical leaders navigating consolidation, energy transition, and market shifts ahead.  Killer Quote:  "We’ve gone from that globalization to regionalization—that almost helps some of your high cost players very short term...that’s a very near term. How long that lasts if we have another round of tariff movements—European, and we will, but European, I don’t know what it is, but we will in Q2."  —Andrew Neale 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 (00:01) - - Introduction & Welcome (01:31) - - Energy Market Shifts & Government Actions (05:27) - - Tariffs, Trade, and Global Uncertainty (09:40) - - Chemical Demand and Investment Cycle (12:55) - - Feedstock Price Trends & Impact (18:09) - - Regional Winners & Losers in Chemicals (21:43) - - Deepening Structural Shifts (27:52) - - Energy Transition: Progress & Roadblocks (33:06) - - Looking Ahead: Preparing for 2026 (34:48) - - Conferences & Final Remarks

What does it take to transform a legacy chemical business into a cutting-edge innovation engine? Mike Finelli, Chief Technology and Innovation Officer at Syensqo (formerly Solvay), shares his journey from mailroom to C-suite and outlines how the company is leveraging sustainability, biotechnology, and artificial intelligence to drive growth and solve some of the world's toughest challenges. With a 160-year heritage and a fresh start after splitting from Solvay, Syensqo’s focus spans advanced materials for aerospace, automotive, healthcare, electronics, water filtration, and more. Host Victoria Meyer and Mike discuss building a culture where AI becomes a daily tool for everyone, the company’s research priorities, and the launch of customer innovation centers designed to foster collaborative, customer-centric solutions. They also address leading through change—both technological and organizational—offering candid insights on managing culture shifts, developing future leaders, and the role of purpose-driven innovation in attracting and retaining talent in the chemical industry.  In this week's episode, Victoria and Mike talk about: From Mailroom to C-Suite: Mike Finelli’s journey highlights the power of a growth mindset in chemicals. How Syensqo balances tradition with a culture of innovation after its split from Solvay. Syensqo puts sustainability at the core of R&D, tackling global challenges with biotech and renewables. Building an AI-driven organization where generative tools accelerate discovery and everyday productivity. Driving innovation by partnering closely with customers in globally connected labs for faster solutions.   Killer Quote: "Our job is to turn molecules into money... and we do that by solving our customers' biggest challenges. You can't do that if you're not interacting with the customer."  —Mike Finelli 

Accelerating sustainability through industry-wide collaboration is changing how chemical companies approach procurement, carbon reduction, and risk management. Victoria Meyer welcomes Jennifer Jewson, Chief Procurement Officer at LyondellBasell and President of Together for Sustainability (TfS), alongside Danielle Warnock, Senior Manager at Nouryon and TfS Regional Lead, to discuss how strategic alliances like TfS are driving real progress on sustainable procurement across the chemical industry. Victoria, Jennifer, and Danielle examine the foundations and impact of TfS: standardizing supplier engagement, launching shared audit platforms, and advancing product carbon footprint measurement to address complex Scope 3 emissions. The conversation covers how sustainable procurement is intertwining with business strategy, the challenges and realities of delivering on corporate sustainability promises, and how companies are equipping teams and the next generation of leaders to advance long-term change. Discover how collaborative platforms and disciplined governance are helping shape the future of chemicals, and why staying committed to sustainability is critical for competitiveness, growth, and continued license to operate.  Victoria, Jennifer, and Danielle discuss the following topics on this week's episode:  Together for Sustainability unites chemical companies to create shared sustainable procurement goals. Sustainable procurement explained: What it means and why it matters How TfS members use common platforms and audits to simplify supplier engagement and data exchange. Companies balance regulation, market shifts, and sustainability priorities to future-proof the industry. Passionate professionals and peer learning accelerate supply chain sustainability. Killer Quote:  “We do together what we cannot do alone.” — Jennifer Jewson, on the collaborative power of the Together for Sustainability alliance 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 

Efficiency and innovation have quietly embedded sustainability into the DNA of the chemical industry—long before the hype cycles and regulatory pressures. Mitch Toomey, VP of Sustainability and Responsible Care at the American Chemistry Council (ACC), joins host Victoria Meyer to discuss how sustainability priorities are shaped by business needs, customer expectations, and practical realities. Mitch shares his journey from management consulting to the United Nations, BASF, and now ACC, spotlighting the business case for sustainability and the real progress chemical companies are making in reducing emissions and waste, even as industry output grows. The conversation explores how the expectations around sustainability have shifted, why incremental improvements and transparency matter, and how the value chain—spanning suppliers, manufacturers, and customers—is working together to deliver meaningful results. Mitch addresses common public misconceptions about the chemical industry, offers insights into aligning diverse member interests at ACC, and closes with advice for future leaders who want to make an impact across business and policy.  Victoria and Mitch explore the following topics on this episode: The business case for sustainability: how efficiency and profitability drive lasting change Why chemical companies focus on practical, measurable sustainability improvements. How chemistry shapes everyday life Aligning diverse players across the chemical value chain for real sustainability progress. Mitch Toomey’s advice on careers and impact in sustainable chemistry.  Killer Quote:  "What’s a safe and sustainable facility is a profitable facility." – Mitch Toomey 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 

People and culture are at the heart of transformation in an AI-enabled world—especially for chemical industry leaders navigating rapid change. Host Victoria Meyer recaps the highlights from The Chemical Summit 2025, where leaders gathered in Houston to share perspectives on business strategy, workforce evolution, technology, and sustainability. The central themes included the critical role of organizational culture, the need for strong collaboration and business agility, and how digital tools and AI are reshaping work across the sector. STAY CONNECTED ALL YEAR: Join the Chemical Executive Mastermind.  New cohort starting in November.  Check it out HERE. Listeners get insights from keynote speakers and panelists on purpose-driven leadership, the realities of upskilling talent, and the impact of new technology on daily operations. Victoria explores how companies are building resilience in supply chains, creating customer value beyond price, responding to economic volatility, and implementing AI not as a job-taker, but as a growth engine.  Victoria discusses the following topics: How leaders are reshaping workplaces to thrive in the AI-powered chemical industry.   The strategies and collaboration driving chemical companies to stay nimble and deliver value.   Real stories of AI and digitalization fueling industry innovation and trust.   Data-driven trends in employee satisfaction, well-being, and skill development.   How executives are steering their companies through disruption and towards lasting success.  "People and culture are the backbone of transformation in an AI enabled world." - Victoria Meyer 

Taking on a 100-year-old industry with a startup mentality requires equal parts resilience, adaptability, and trust. Jimmy Jett, CEO of Integrity Biochem, joins host Victoria Meyer for an insightful fireside chat that uncovers the challenges and strategies behind transforming a traditional chemical business. Jimmy shares how his team moved innovative technology from the pharmaceutical sector into oil and gas, then successfully scaled into personal care and mining. Their conversation highlights the unique pressures of operating a startup in a legacy market—navigating regulatory hurdles, building a culture of speed and trust, and leveraging partnerships for rapid growth and scale. With candid stories on leadership, funding, and talent, Jimmy and Victoria shine a light on what it takes to disrupt and thrive in the chemical industry today, amidst economic, geopolitical, and technological shifts.  Victoria and Jimmy explore the following topics: How Integrity Biochem brought a fast-paced startup mindset to disrupt the century old chemical industry. How Jimmy Jett built his team and pivoted from entrepreneurship to structured, scalable operations. The real challenges of scaling from a three-acre site to global operations. Culture, resilience, and the leadership journey Navigating uncertainty in a changing industry  Killer Quote: "You have to find those experts in those market segments that can tell you go, no go. And there’s plenty of market segments where we are not a fit. Absolutely not. And so you just have to keep plugging away until you find that little niche and then you go hard with it... you go hard only if the volumes and the margin justify it." — Jimmy Jett 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 

Oversupply, uncertainty, and shifting global forces are reshaping the chemical industry in unprecedented ways. Dewey Johnson, Senior Vice President of Dow Jones and global head of Chemical Market Analytics, joins host Victoria Meyer to dissect what’s driving the deepest and longest industry downcycle on record—from China’s march toward chemical self-sufficiency to the impact of sustainability targets and supply chain risk. Dewey shares his perspective on the global landscape, the interplay of political, economic, and environmental pressures, and why market participants are facing tough decisions about assets, investment, and strategy. Victoria and Dewey also explore how companies are navigating regional differences, the growing importance of AI, and why the next five years could bring more M&A, shutdowns, and portfolio reshaping. With insight into the evolving role of Chemical Market Analytics under Dow Jones, this conversation offers chemical industry professionals a candid look at the trends and disruptions shaping the market today—and practical considerations for staying resilient and competitive into the future.  Victoria and Dewey discuss the following topics:  Discover the forces pushing chemical markets into a deep, global downturn.   Learn how geopolitical shifts are rewriting the rules of industry competition.   Uncover China's oversized impact on worldwide chemical supply and trade.   See how innovation and strategic moves are helping companies stay resilient.   Explore how data, analytics, and AI are guiding smarter decisions in uncertain times. Killer Quote: "This is the longest and deepest down cycle ethylene has ever experienced, ever." — Dewey Johnson 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 

As the chemical industry closes out a turbulent 2025, leaders are facing another critical inflection point. In this solo episode, host Victoria Meyer lays out the key market trends, leadership strategies, and execution tactics that matter most for finishing the year strong and setting up for success in 2026.Victoria unpacks how permanent asset shutdowns, trade and tariff volatility, tighter capital, the evolving business case for decarbonization, and uneven demand are reshaping industry decision-making. She dives into the practical steps that chemical leaders—from the C-suite to frontline managers—can take now to sharpen operational discipline, drive portfolio value, and protect strategic growth opportunities amid uncertainty.From capital allocation and supply chain resilience to customer partnership and talent management, Victoria emphasizes the importance of strategic discipline and a focus on the fundamentals. Leaders need to navigate today’s challenges but also position their business to capture opportunities as the landscape evolves. Victoria highlights:Five top market trends defining Q4 2025: asset shutdowns, trade/tariff uncertainty, capital constraints, shifting decarbonization priorities, and uneven demand.How permanent structural change is creating risk—but also new opportunities for those who are prepared.The importance of scenario planning and stress-testing supply chains to create resilience and competitive advantage.Why operational discipline and cash management are essential to fund innovation, M&A, and growth.Portfolio discipline: knowing when to prune non-core businesses and selectively invest for transformation.The impact of delayed decarbonization projects, but also where incremental progress and the business case still hold strong.How to approach talent and culture as drivers of transformation—especially amid layoffs and restructuring.Practical actions for leaders to close out 2025: tighten operations, protect growth capital, focus supply chain strategy, engage customers on value, and build high-performance teams. Killer Quote: “This is the quarter where strategic discipline really differentiates those who are merely surviving from those who are positioning to grow into 2026.” – Victoria Meyer

Pricing remains one of the most powerful yet often misunderstood levers for growth and profitability in the chemical industry. James Hogan, partner at Simon Kucher and expert in pricing strategy and customer behavior, joins host Victoria Meyer to break down today’s evolving landscape—from regional market differences and shifting supply dynamics to the rising role of digital tools and sustainability. Their conversation highlights how value goes beyond price alone, with factors like product quality, lead time, technical support, and strong customer relationships playing critical roles in differentiating both commodity and specialty chemical businesses. James and Victoria examine the transformation from formulaic to value-based pricing, the complexities introduced by tariffs and distributors, and the increasing need for scenario planning in a volatile market. They also discuss how technical backgrounds, transparent communication, and understanding what customers truly value can drive both personal career growth and business results.   Victoria and James explore the following topics: How a clear understanding of what customers value is critical to pricing How technical support, lead times, and relationships drive differentiation—even in commodities. Regional markets and sustainability differences are demanding tailored global strategies. How AI, data, and blockchain are revolutionizing chemical pricing and operations. Preparing for uncertainty: Scenario planning is key to staying ahead of market disruptions.  Killer Quote: "Everybody wants to avoid a price war. In an industry like this where margins are razor thin, you can't afford to go down. So let's all focus on adding more value. You add more value, you find a way to add more value, customers will find a reason and willingness to pay a little bit more. And, you know, our side is let's raise the bar rather than lower the bar." - James Hogan, Partner at Simon-Kucher 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 

The chemical industry is facing a new wave of digital transformation, with artificial intelligence and data integration promising tangible productivity gains. Ali Amin Javaheri, CEO of Knowde, returns to The Chemical Show with host Victoria Meyer to share how the industry’s historically “laggard” approach to technology is giving way to practical applications that drive value—from automating regulatory workflows to empowering sales and commercial teams. Ali draws on his deep industry background to discuss the challenges and opportunities chemical companies are encountering as they seek to unify fragmented data and leverage new tools to streamline operations. Victoria and Ali explore the critical role of leadership in successful digital adoption, the importance of targeting top business priorities, and why user adoption still hinges on solving the right problems. Their conversation covers the evolution from early e-business systems to modern AI-driven solutions, highlighting how faster access to knowledge, connected data sources, and executive engagement are fundamentally changing how chemical companies operate and create value—for their teams and their customers. Victoria and Ali cover these topics: How to transform scattered chemical data into real productivity gains. Learn how AI is solving real challenges in chemicals—not just hype. Discover why connected data means faster, smarter decisions. Learn why executive focus is the secret to lasting digital change. Get Ali’s advice for future leaders driving industry innovation.  Killer Quote: "You have no idea how many times I hear the two words ‘change management.’ And of course it’s hard—you know, people have their preferences and certain behaviors. However, people can change and people can be led to a better direction. A lot of times folks want that if they understand the why and it’s being repeated over and over again as to why it’s so important." - Ali Amin-Javaheri, CEO of KnowdeSubscribe 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