Changing face of Specialty Chemical Industry | TatvaChintan Pharma Chem.

1. The 5 Biggest Challenges of Specialty Chemicals Industry Chemical industry is growing and developing but it is facing several challenges as well. Since the competition is stiff as it is in any other industry, the manufacturers have to be on their toes. The producers of the chemical products are facing tremendous pressure in maintaining the margin of profit. The global economic uncertainty has further added to their worries of surviving and developing in this market. Some of the major challenges which the specialty chemical industry is facing these days is listed below. Though not possible to completely eradicate it, the losses can be minimized if preventive measures are taken at the right time. 1. The challenge of Product Commoditization Continuous product innovation is necessary for fighting against the odds of product commoditization within the product lifecycle. It is observed that the best opportunity to maximize your profit margin is at the time of product launch. Further alignment should be made between product development and marketing strategy to come up with a value-based price. The better co-ordination you will have between different stages, better will be your product commoditization. 2. The challenge of Communicating Differentiated Value A different set of value is added at different stages of the product production. The chemical companies must state the differentiated value addition through the complex production process. The performance benefits of the product should be clearly revealed so that the customers become aware about the products and the services offered. A clear customer value communication is important for mentioning the amount of value creation at each stage of the production. Pharmaceutical Raw Material Company

2. The 5 Biggest Challenges of Specialty Chemicals Industry 3. The challenge of Neutralizing Procurement Practices Original Equipment Manufacturer (OEM) procurement practices should be optimized to scale down the cost per unit to the lowest possible amount. Attaining this feat is not easy, you have to plan and execute various things precisely to get it. All the aspects including the wider economic impacts of a chemical material should be considered for establishing a win- win negotiation. The better considerations you will do for these procurement practices, lowest cost per unit you can manage. 4. The challenge of Responding to Aggressive Competitors The specialty chemical market is excessively competitive and calls for taking various measures for survival in the market. Since there is fierce competition over the price, it would be advisable to take other factors as well for gaining better market position. When all your competitors are giving discounts, you should come up with something different to stay ahead in the competition. Plan your strategy first keeping in mind your competitors to win in the long run. 5. The challenge of Fluctuating Raw Material Costs The price of the raw materials for chemical products keeps on fluctuating and this seems to be a big challenge for the manufacturers. The producers find it tough to strike a chord between production and selling cost. Managing a considerable amount of profit for the survival and development of the business seems tough due to fluctuating raw material prices. Proper planning and skill is required to balance between customer relationship and the profit margin. Pharmaceutical Raw Material Company

3. The 5 Biggest Challenges of Specialty Chemicals Industry Tatva Chintan Pharma Chem Pvt. Ltd, a leading raw material supplier for various pharmaceuticals companies in India and abroad has a wide variety of various chemical products like specialty chemicals, quaternary phosphonium salts, methylating agents, electrolyte chemicals, etc. Pharmaceutical Raw Material Company