Processing Industries
    Assessment of Digital Maturity

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    Synopsis

    The processing Industry in this analysis includes chemicals, and other materials processing such as minerals and metals but excludes food and textiles which are addressed under agribusiness and textiles respectively. These industries, of which Chemicals generates US$3.9 trillion in sales and employs around 20 million globally, have been slow to digitalize with more than half lacking a digital roadmap or strategy, and three quarters of them focusing primarily on operational transformation with an IT and data orientation rather than strategic (Deloitte Global 2016 Global Digital Chemistry Survey). Even in operations alone, according to Mckinsey, a consultant, the contribution to profits can be substantial. Some companies have increased outputs by 10 to 30% while some others have reduced energy consumption by over 26%. Yet there is much more yet to be gained from improved customer experience and new business models that digital transformation can offer. One key impediment to digitalization in this rather mature and concentrated industry, is an aging and non-digital workforce and the need for new talent that better embraces the digital workplace as in some of its smaller and more entrepreneurial companies. Overall we rate the digital maturity of the processing industry at around 57%.

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