To Achieve Sustainability a Chemical Company Aimed Towards Embracing Technological Breakthroughs and Minimizing its Reliance on Fossil Fuels

By collaborating with Research Nester, our client hopes to achieve sustainability to enable market development without relying on a material that is in limited supply and to minimize dependence on fossil fuel.

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An overview:

1

The client’s company is engaged in the manufacturing and marketing of a wide variety of chemicals. It is one of the largest trading companies which has an extensive product portfolio and provides products across six market segments: chemicals, materials, industrial solutions, surface technologies, nutrition & care, and agricultural solutions.

2

The company was facing crossroads on the factor of sustainability and didn’t understand what is the best choice of option.

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The client approached Research Nester to help them understand and achieve sustainability and find proactive solutions against their burdening reliance on fossil fuels.

4

The company envisioned the need to choose sustainable sources of energy for their market development and needed to reduce fossil fuels in their production processes.

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The Story

Methanol is often used as an industrial solvent in many different sectors, including the production of inks, resins, adhesives, and colors in the paint industry. To produce a range of goods including plastics, plywood, paints, explosives, and different press fabrics, methanol must first be transformed into formaldehyde. Methanol has a wide range of industrial uses as an intermediary, solvent, or indirect raw material, including colors, biodiesel, explosives, and medications (derivative). The uses of methanol are not restricted to certain sectors as it can be transformed into a variety of compounds, including formaldehyde dimethyl ether, and others. Methanol is added to gasoline as an additive to provide the resulting combination of high-octane ratings with fewer emissions than regular gasoline. Most of the methanol produced is from natural gas which is a fossil fuel.

Our clients had about 9% less expenditure on research and development compared to rivals in the sector, which were growing quickly. The number of raw materials on hand was also insufficient owing to the increased demand. The geographical growth was constrained by the supply chain's fragility. The decrease in production led to a more than 5% decrease in revenue. Lack of diversification in business segments was the main reason behind the reduction in 10% sales in the past few years. Furthermore, our client desired to develop sustainable products and focus on core business.

Our Solution:

  • By enhancing technological expertise and manufacturing capacity in various parts of the world, Research Nester worked with our client to focus on the business strategy to increase the company's leadership position worldwide.
  • Essential information about the market's growth was provided to achieve a high level of customer satisfaction in the coming years.
  • Our experienced team's analysis of each market segment assisted our client in developing new revenue sources, taking advantage of emerging consumer trends, and expanding their product line into untapped markets.
  • An extensive market analysis led to the creation of a comprehensive strategic plan with a greater emphasis on product research, innovation, and efficiency. The strategy served as a guide for enhancing the product’s quality.
  • Together, our team and the client were committed to establishing new revenue streams through the worldwide integration of market-driven trading and versatile distribution channels. By integrating fresh concepts with cutting-edge technology, they are continuing to innovate new materials, climate-friendly methanol, and substances.
  • It was suggested that joint ventures can aid in boosting capacity and successfully satisfying needs to meet the market demand for sustainable innovation in the fertilizer sector which would also support growth by focusing on integrating the global supply chain for its products and improving its ability to ensure cost-effective product delivery.
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Results

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Within the duration of 6 months, our client is devoted to providing high-quality products and application-based expertise to customers throughout the world.

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The Company's broad product portfolio serves a diverse set of end-user applications, which includes chemical additives, automotive, construction, industrial adhesives, consumer and medical, energy storage, food and beverage, filtration, industrial and textiles, paints and coatings, paper and packaging, performance, paints, and coatings.

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The business's annual capacity to produce methanol expanded to around 3.5 million metric tonnes. The business is currently one of the top three global market leaders in the manufacture of MTBE, Glycols, Methanol, Polycarbonate, Polyethylene, and Polypropylene. Through green methanol technological advancements, the company now has about more than 4,000 patents and a team of 500-plus technology experts worldwide.

4

To get equipment and thorough technical designs, the firm formed a joint venture with a major chemical company under the direction of our team. The company has a global presence with six manufacturing sites and 241 additional production sites across 90 countries globally.

5

In 2022, the company announced that they have successfully developed the process for climate-friendly methanol. Furthermore, through strict carbon control, the corporation hopes to achieve net-zero emissions by 2050. In addition, the company has established a goal for 2025 of selling USD 27 billion worth of goods that significantly contribute to sustainability in the value chain.

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swara-keni
Swara Keni

Head- Global Business Development

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