Recession marks "transition" for chemical industry

12/30/2009 | ICIS Chemical Business (U.K.)

The downturn in 2009 prompted chemical companies to realign their innovation strategies to capitalize on "megatrends" such as renewable energy and food and water supplies. Companies have allotted more resources to research and development, as shown by chemical major DuPont's heavy investments in such megatrends last year. "Downturns of this scale are generally periods of transition," said Paul Hodges, chairman of International e-Chem.

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