The Importance Of Chemical Management For The Circular Economy

The chemical industry is an important cog in the economy of industrialised nations like the United States and Canada, as well as developing countries such as China and India. In 2015, chemicals accounted for $1 trillion USD globally — nine percent of global chemical demand. Is chemical management software worth the money?

Some chemical managers are making the switch to chemical management software at this time, while other chemical managers wait until chemical management software prices fall before purchasing it.

With chemical demand in China expected to grow, chemical management software is an important tool for any chemical manager who wants to be competitive in this market. For chemical managers who are struggling to keep up with the chemical industry’s rising demands, chemical management software presents an opportunity to work smarter, not harder.

The chemical industry is a major part of the global economy. In 2015 chemical managers generated chemical revenue from chemical management software sales worth more than $1 trillion USD globally. By 2020 chemical managers are expected to generate chemical revenue from chemical management software sales worth more than $1.2 trillion US dollars globally. This chemical information informs better chemical decisions and reduces the chances of chemical accidents happening that can damage a company’s reputation and lead to chemical fines and penalties.

The number of chemicals in use today is one reason why chemical management plays such an important role in everything. The more chemicals in use, the greater the chance that one or more of these chemicals could be mismanaged and lead to a chemical accident.

A single minor chemical mistake can quickly become a major incident, as chemical accidents have a tendency to go viral on social media. In chemical management, it’s important to remain up-to-date with the most recent chemical guidelines and standards from organisations such as the International Chemical Management Organisation. 

Chemical accidents are also one of the biggest law-related dangers a chemical company can face. Companies that handle hazardous chemicals need a solution to track and document the use, transport and disposal of these chemicals. 

For many chemical managers, the best way to stay ahead in this competitive market is to adopt chemical management software.