Economic Trends & Customer Strategies That Delight | Highlights from Day 2 of The Chemical Summit - Ep 185

Ep 187 - Shaping the Future of Chemicals: Insights from S&P Global’s Mark Eramo Navigating the complexities of the energy transition, Mark Eramo from S&P Global Commodity Insights joins Victoria Meyer to shed light on balancing consumer demand, policy alignment, and sustainability in the chemical industry. Mark discusses the challenges of producing sustainable products that consumers will pay premiums for and emphasizes strategic collaboration between policymakers and industry leaders. Victoria and Mark converse about the transformative roles of diversity and AI in shaping the industry's future, the effects of geopolitical uncertainties on supply chains, and the anticipation of a pivotal market shift by 2025-26. They highlight the intricate journey of corporate transformation and share insightful advice on leadership and career progression within the chemical sector.  Join us to learn more about the following topics this week: Mark Eramo's career and industry engagement What S&P Global Commodity Insights' origin story and what it is today Lessons learned through managing and helping lead companies through transition What S&P Global Commodity Insights brings to their customers today versus what they have done in the past.  Customer response to changes with S&P Global Commodity Insights Biggest trends that are influencing the chemical industry today? S&P Global's advice for their customers Leadership advice from Mark Eramo Killer Quote: "One of the biggest challenges we face today is aligning policies, technology, and consumer demand to create sustainable products that consumers are willing to pay a premium for, without compromising business viability. It's a fine line we must tread to ensure we don’t face unintended business consequences." -- Mark Eramo ***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  Celebrating 40 years, the World Petrochemical Conference by S&P Global is the most prestigious global industry gathering for chemical innovation, insight, and collaboration. WPC has a rich history of providing unmatched market intelligence and convening top industry leaders and influential thinkers to discuss the solutions that will unlock pathways for growth and transformation. Join us in Houston, TX, March 17-21, 2025, to commemorate our 40th Anniversary!  Visit their website to learn more.

Ep 186 Show Notes - How Efficiency Drives Sustainability with Alina Green of WIKA Explore the extraordinary journey of Alina Green, from growing up on a post-communist Romanian farm to becoming a Market Segment Specialist at WIKA Group, transforming energy and chemical processes with innovative automation solutions. Alina chats with Victoria Meyer about navigating tough environments, leveraging her engineering background, and the pivotal role of small, high-return projects in addressing decarbonization and sustainability in the industry. Victoria and Alina delve into WIKA's 75-year history, discussing how this family-owned company has thrived in the instrumentation space. They reflect on how strong customer relationships and in-depth market knowledge drive impactful innovations, no matter the company's size. Highlighting a successful collaboration with Chevron, Alina demonstrates how simple projects, like optimizing an amine unit, can achieve significant cost savings and carbon emission reductions.  Join us to learn more about the following topics this week: Origin story of both Alina Green and WIKA Group Identifying market trends and opportunities to connect to customers Digitization and digital transformation as a tool to expand and go deeper into markets and opportunities. WIKA's key differentiators in helping customers find solutions Sustainability as a driver of requests and opportunities with customers Challenges and opportunities to being women in a very technical market  Killer Quote: "One of the most impactful things I heard from BASF CEO Michael Heinz on your show was his advice to 'always take a job that you're able to grow into.' It's a principle I've carried with me throughout my career." Additional Links: The Chemical Show Episode: BASF CEO Michael Heinz on Sustainability, Energy, and Leadership ***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   Celebrating 40 years, the World Petrochemical Conference by S&P Global is the most prestigious global industry gathering for chemical innovation, insight, and collaboration. WPC has a rich history of providing unmatched market intelligence and convening top industry leaders and influential thinkers to discuss the solutions that will unlock pathways for growth and transformation. Join us in Houston, TX, March 17-21, 2025, to commemorate our 40th Anniversary!  Visit their website to learn more.

Discover compelling insights on customer relationships, global economics, and strategic growth from day two of The Chemical Summit. Host Victoria Meyer revisits key takeaways, including Melina Palmer's engaging talk on creating customer delight and the power of behavioral nudges in business, Jason Schenker's deep dive into current and future economic trends, and the vital role of consistency in building trust, highlighted by Jamie Creamer.Gain actionable strategies from industry leaders Jeanine Hurry and Shelly Linkerhof, who emphasize the significance of customer segmentation and brand storytelling in driving growth. From the importance of strategic business relationships to nuanced economic forecasts, this episode encapsulates crucial lessons aimed at elevating your leadership and business approach in the chemical industry.Want the full speeches?   Grab your VIRTUAL TICKET at thechemicalsummit.com for full access to The Chemical Summit speakers and panels.  Celebrating 40 years, the World Petrochemical Conference by S&P Global is the most prestigious global industry gathering for chemical innovation, insight, and collaboration. WPC has a rich history of providing unmatched market intelligence and convening top industry leaders and influential thinkers to discuss the solutions that will unlock pathways for growth and transformation. Join us in Houston, TX, March 17-21, 2025, to commemorate our 40th Anniversary!  Visit their website to learn more.

Dive into the dynamic world of leadership within the chemical industry with this special episode featuring insights from The Chemical Summit. Victoria Meyer, host of The Chemical Show, shares five transformative leadership lessons from Day 1 of the Summit, with highlights from speakers like Leon DeBruyn of Lummus Technology, Bonnie Tully COO of Evonik, and Eric Carrero, President of the Greater Houston Port Bureau. From creating a war room during company transformations to the importance of swimming where you want to succeed in data innovation, these lessons are designed to propel your leadership skills and business strategies.Explore the significance of connecting and partnering across the marine supply chain, building strong community relationships for sustainability, and resolving conflicts effectively during critical inflection points. The episode encapsulates the essential takeaways and actionable insights that can revolutionize your approach to leading in challenging times. Don’t miss the chance to gain exclusive access to summit recordings and join the conversation at thechemicalsummit.com.   Get your VIRTUAL TICKET today.  Celebrating 40 years, the World Petrochemical Conference by S&P Global is the most prestigious global industry gathering for chemical innovation, insight, and collaboration. WPC has a rich history of providing unmatched market intelligence and convening top industry leaders and influential thinkers to discuss the solutions that will unlock pathways for growth and transformation. Join us in Houston, TX, March 17-21, 2025, to commemorate our 40th Anniversary!  Visit their website to learn more.

Learn more about the transformative power of compliance and data in today’s business landscape with guest Tom Fox, President of the Compliance Podcast Network. Host Victoria Meyer delves into the evolution of compliance functions, highlighting how they have shifted from being a gold standard to a crucial component of everyday business operations. Tom shares his insights on the importance of data quality and security, especially in the context of AI and its growing role in compliance and legal frameworks. The episode also explores the challenges companies face with AI-generated information and the critical need for verification to avoid costly inaccuracies. Victoria and Tom also discuss the pivotal role of podcasting in business, emphasizing its benefits in thought leadership, relationship building, and content creation. Tom shares his journey from a trial lawyer defending petrochemical companies to an influential voice in the compliance industry through podcasting. He draws parallels to the safety culture revolution in the 1990s and underscores the ongoing need for strong leadership in fostering an ethical compliance culture.   Join us to learn more about the following topics this week: Tom Fox's career journey and what led him to podcasting The evolution of compliance: from legal to business to data and analytics Trends in compliance today within the chemical and energy industries How do companies ensure clarity in compliance?  The impact and risks of data analytics and AI on compliance The role leaders play in fostering a culture of compliance Five reasons to have a podcast as a business  Killer Quote: "Compliance isn't just about ticking a box anymore; it's about integrating with the business, using data to predict and prevent issues before they arise, and ensuring ethical conduct is woven into the fabric of your organization. In a world where AI tools can provide both incredible insights and glaring inaccuracies, it's our responsibility to verify, validate, and lead with integrity.” -- Tom Fox Thank you to our sponsor Veson Nautical: From multi-jurisdictional regulations to geopolitics and decarbonization, the maritime ecosystem is more complex than ever. This is creating unprecedented levels of risk exposure. With trusted maritime data and built-for-purpose workflows from Veson Nautical, you can confidently make decisions to better manage risk and maximize profit. For over twenty years, Veson has been co-innovating with the world’s largest buyers and sellers of bulk marine freight.   Join their client community and find your decision advantage. Learn more at veson.com ***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   Celebrating 40 years, the World Petrochemical Conference by S&P Global is the most prestigious global industry gathering for chemical innovation, insight, and collaboration. WPC has a rich history of providing unmatched market intelligence and convening top industry leaders and influential thinkers to discuss the solutions that will unlock pathways for growth and transformation. Join us in Houston, TX, March 17-21, 2025, to commemorate our 40th Anniversary!  Visit their website to learn more.

Discover the unique complexities of maritime and chemical shipping with Sean Riley, President, and COO of Veson Nautical. Sean and host Victoria Meyer delve into the nuances of regulatory compliance, risk management, and data integration, essential elements driving competitive advantage in today's maritime logistics sector. The discussion covers how Veson's expertise distinguishes client relationships, turning them into collaborative partnerships to ensure alignment with ever-evolving regulations. Victoria and Sean further explore the shift towards more proactive supply chain management, emphasizing the critical role of data and collaboration. Sean offers valuable career advice, stressing the importance of curiosity, self-confidence, and a willingness to take risks and exceed expectations. He shares personal insights on the significance of feedback and highlights Veson's journey to enhance its data capabilities through strategic acquisitions. Victoria and Sean also address the industry's pressing challenges, including supply chain disruptions and the imperative of sustainability, presenting a future where data sharing and connectivity are paramount for operational efficiency and regulatory compliance. Join us to learn more about the following topics this week: Challenges in the maritime industry: geopolitical conflicts, weather related impacts, and new regulations The 2020's: the decade of supply chain Biggest trends chemical shippers are facing today Veson's platforms: helping chemical shippers manage risks Sustainability and regulatory shifts in the maritime industry Finding success in the maritime industry through leadership skills Veson's future: data, artificial intelligence and collaboration Killer Quote: "Finding what you like doing and doing a bit more than expected is key to career success. It's about being reasonably curious and confident, not fearing failure, and understanding feedback as perception, even if you disagree with it. Ultimately, it's not about whose fault something is, but who's willing to take responsibility and solve the problem." - Sean Riley  Thank you to our sponsor Veson Nautical: From multi-jurisdictional regulations to geopolitics and decarbonization, the maritime ecosystem is more complex than ever. This is creating unprecedented levels of risk exposure. With trusted maritime data and built-for-purpose workflows from Veson Nautical, you can confidently make decisions to better manage risk and maximize profit. For over twenty years, Veson has been co-innovating with the world’s largest buyers and sellers of bulk marine freight.   Join their client community and find your decision advantage. Learn more at veson.com.***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   Celebrating 40 years, the World Petrochemical Conference by S&P Global is the most prestigious global industry gathering for chemical innovation, insight, and collaboration. WPC has a rich history of providing unmatched market intelligence and convening top industry leaders and influential thinkers to discuss the solutions that will unlock pathways for growth and transformation. Join us in Houston, TX, March 17-21, 2025, to commemorate our 40th Anniversary!  Visit their website to learn more.

Sustainability is a key trend influencing all industries.    Yet, can Profitability and Sustainability Coexist???   In this episode of The Chemical Show, host Victoria Meyer discusses the significant trend of sustainability in the chemical industry. She elaborates on the different facets of sustainability including clean air, water usage reduction, circularity, green hydrogen, green methanol, biotechnology, and sustainable supply chains. Victoria also  addresses the hurdles faced by the industry such as regulatory approvals, affordability, consumer behavior, and investor patience.Finally, we pose the critical question of whether sustainability and profitability can coexist, citing examples from various companies and noting the challenges and solutions needed for the future.00:00 Introduction to the Chemical Industry00:46 Host Introduction and Previous Episode Recap01:00 Unveiling the Missing Trend: Sustainability01:31 Exploring Sustainability in the Chemical Industry04:22 Challenges in Achieving Sustainability07:43 Affordability and Consumer Behavior11:25 Regulatory Hurdles and Investor Patience15:05 The Path Forward: Can Sustainability and Profitability Coexist?16:52 Conclusion and Call to ActionHBR Article:It's Time to Unbundle ESGOther episodes referenced: Kevin Norfleet, Celanese, Carbon CircularityJennifer Holmgren, LanzaTech, 20 Years to SuccessGaurab Chakrabarti, Solugen, A Green Chemistry UnicornCorey Tyree, Trillium, Scaling UpTom van Aken, Avantium, Commercializing New Technologies Celebrating 40 years, the World Petrochemical Conference by S&P Global is the most prestigious global industry gathering for chemical innovation, insight, and collaboration. WPC has a rich history of providing unmatched market intelligence and convening top industry leaders and influential thinkers to discuss the solutions that will unlock pathways for growth and transformation. Join us in Houston, TX, March 17-21, 2025, to commemorate our 40th Anniversary!  Visit their website to learn more.

Explore the dynamic landscape of the chemical industry as host Victoria Meyer delves into six key trends that will shape 2024 and 2025. From ever-changing supply chain dynamics and shifting customer engagement mechanisms to the impacts of global economics and geopolitics, Victoria provides an insightful analysis of the factors driving the industry forward. This episode offers a deep dive into the role of digitization and AI, ongoing labor challenges, and how innovation is being influenced and hampered by regulation. With valuable insights into how industry leaders can navigate these trends, this episode is a must-listen for chemical professionals looking to stay ahead of the curve. Don’t miss the opportunity to connect with peers and discuss these trends further at the upcoming Chemical Summit. Join us to learn more about the following topics this week: Supply chain as a dynamic part of the chemical industry. Engaging with customers: The rise of digital natives in leadership Politics, policies, and wars influencing trends in the chemical industry An acceleration of analysis and answers - data driven decision making Labor challenges post Covid Innovation influenced by regulation “This is the decade of supply chain... Supply chain today more than ever is a dynamic part of the chemical industry. Decision making, resiliency, all of those things are critical.” - Victoria Meyer  ***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   Celebrating 40 years, the World Petrochemical Conference by S&P Global is the most prestigious global industry gathering for chemical innovation, insight, and collaboration. WPC has a rich history of providing unmatched market intelligence and convening top industry leaders and influential thinkers to discuss the solutions that will unlock pathways for growth and transformation. Join us in Houston, TX, March 17-21, 2025, to commemorate our 40th Anniversary!  Visit their website to learn more.

Ep 179 Show Notes  Geopolitical shifts, economic challenges, and sustainability goals are reshaping the global chemical industry. John Richardson, senior consultant at ICIS, joins host Victoria Meyer to delve into the market's uncertainties and logistical issues affecting Europe, the repercussions of the Russia-Ukraine war, and the potential of developing markets like India and Africa. John sheds light on critical issues such as the demand-supply imbalance for commodity chemicals, Europe's struggle with high energy costs, and China's evolving role from a dominant importer to a potential major exporter of synthetic resins. Victoria and John also explore the wider scope of sustainability within the chemical industry, examining Europe's pursuit of a circular economy amidst complex regulatory landscapes and fluctuating geopolitical risks. They discuss the impact of demographic changes on consumer behavior, and the shifting focus towards eco-friendly products. Tune in to gain a comprehensive understanding of the forces shaping the chemical market's future, from rising sustainability efforts to adapting strategic decisions in a dynamically changing global landscape. Join us to gain insights on the following topics this week: Chemical markets in the 2nd half of 2024 and leading into 2025 Overcapacity and supply-demand imbalance China's economic slowdown and demographic changes have significantly impacted global chemical demand. The rising middle class in developing countries, including China, India, and others, has driven increased demand for chemicals and plastics Geopolitical tensions have disrupted supply chains, increased energy costs, and created uncertainty in the market Circularity struggles - infrastructure, regulatory hurdles, and feedstock availability 10 interconnected forces shaping the new global chemical landscape Big commodity chemicals winners and losers "China's historical impact on global polymer demand is profound, but with the shifting sands of demographics and geopolitics, the future may see other developing countries rising, albeit not at the breakneck pace we've witnessed. The global chemical industry must pivot and adapt to these emerging complexities and opportunities." – John Richardson ***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  Celebrating 40 years, the World Petrochemical Conference by S&P Global is the most prestigious global industry gathering for chemical innovation, insight, and collaboration. WPC has a rich history of providing unmatched market intelligence and convening top industry leaders and influential thinkers to discuss the solutions that will unlock pathways for growth and transformation. Join us in Houston, TX, March 17-21, 2025, to commemorate our 40th Anniversary!  Visit their website to learn more.

Ep 178 Show Notes - How Collaboration, Customers, and Community Contribute to Sustainability Uncover the impactful stories behind the winners of American Chemistry Council’s 2024 Sustainability Leadership Awards, as host Victoria Meyer dives into projects from Celanese, PPG, and DuPont. Kevin Norfleet from Celanese shares insights on their Carbon Capture and Utilization Project, a breakthrough in emissions reduction that won them the Circularity Award. Meanwhile, Garry Grant from PPG discusses their climate-friendly innovations in automotive coatings, a project that earned the Climate Award. Mary Reinthal from DuPont highlights their Clear Into the Future grant program, showcasing how DuPont is fostering community engagement and social responsibility across the globe. From land restoration in Michigan to urban forestry in Seoul, their initiatives reflect a deep commitment to societal and environmental betterment.   Join us to gain insights on the following topics this week: The why behind Celanese's CCU project, winner of ACC's Circularity Award Fitting into the circular space with CO2 circularity How PPG is reducing the energy intensity in the automotive paint shop with their new paint line, winning ACC's Climate award Opportunities to reduce power usage and CO2 production by taking it a different approach to paints and coatings and adhesives that go into automotive processes. Dupont's Clear into the Future project funding nonprofit organizations to work on sustainable development initiatives in the communities, winner of ACC's Social Responsibility and Community Engagement Award Creating community and local connection as employees of a Global company  Killer Quote: “There is an inherent circularity that exists within the chemical industry. If you just look at your business and your processes, you'll find that there's a lot of circularity because of efficiency, because we want to save money and save costs, and then save the environment." - Victoria Meyer, Host of The Chemical Show  Additional Links: ACC’s 2024 Sustainability Leadership Awards Episode Part 1: Driving Innovation in Recycling: Inside ACC’s Sustainability Awards with Cyclyx and EFC Gases Chris Jahn: Sustainability Starts with Chemistry with ACC CEO Chris Jahn Michael Heinz: BASF CEO Michael Heinz on Sustainability, Energy, and Leadership Bonny Tully: Achieving Success in Chemicals: Sustainability and Leadership with Bonnie Tully of Evonik Daryl Roberts: Careers, Care, and The Future of Chemicals with Daryl Roberts of DuPont Kevin Norfleet: Carbon Capture and Customer Value with Kevin Norfleet of Celanese ***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  Celebrating 40 years, the World Petrochemical Conference by S&P Global is the most prestigious global industry gathering for chemical innovation, insight, and collaboration. WPC has a rich history of providing unmatched market intelligence and convening top industry leaders and influential thinkers to discuss the solutions that will unlock pathways for growth and transformation. Join us in Houston, TX, March 17-21, 2025, to commemorate our 40th Anniversary!  Visit their website to learn more.