Nine in 10 chemical company CEOs confident about growth prospects for year ahead

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3rd April 2019 17:10 - Chemicals

Nine in 10 chemical company CEOs confident about growth prospects for year ahead: A survey of company CEOs across the chemical sector has found 92% are confident about the prospect of company growth over the next 12 months.

The annual survey of industry bosses by PwC found that CEO confidence in short-term growth was at its highest in five years - growing from 81% in 2017.

However, when looking further ahead, the global poll found chemical bosses were not feeling as positive, with a lesser 85% saying they were confident about their three-year growth outlook. This marks a drop since 2017 when confidence levels were at 90%, also placing them at their lowest level in five years.

The survey also asked chemical company CEOs about their specific concerns for business over the coming years, in terms of transformational factors as well as macroeconomic concerns.

PwC's 22nd Annual Global CEO survey found 54% had concerns over resource and materials substitution, while 46% said they were concerned over decarbonisation of the economy, use of renewable energy sources (40%) and elimination of waste (38%)

Turning their thoughts to macroeconomic factors, trade conflicts came top with 44% having concerns, followed by protectionism (40%), exchange rate volatility (40%) and volatile energy costs (40%).

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