A record attendance at the SOCMA Show reflects rising optimism in speciality and toll manufacturing. Gregory Morris reports
Pragmatic confidence prevails in US
A record attendance at the SOCMA Show reflects rising optimism in speciality and toll manufacturing. Gregory Morris reports
The North American speciality chemical and toll manufacturing industry has worked through weakness that lingered through 2024 and is poised for recovery. That was the overarching theme at the Society of Chemical Manufacturers and Affiliates( SOCMA) annual conference and trade show on 19-21 February in Nashville, Tennessee.
“ We got through the mid-year softness and now pipelines are full,” said Jennifer Abril, president and CEO of SOCMA.“ Most companies used that slowdown to prepare for expansion and now have capacity to meet future demand.” She related that 27 % of member companies anticipate strong growth in 2025, with another 40 % anticipating modest growth.
As part of that positive outlook, many companies are exploring artificial intelligence( AI) in multiple roles, notably early-stage evaluation of new chemistries. Indeed that was the topic of a plenary session. Other applications of AI include process optimisation, supply chain automation and preventive maintenance.
Abril noted that even with“ pragmatic confidence” prevailing, there remains concern over supply chain disruption. She specifically cited geopolitical unease, especially tariffs, and inflation in wages and costs. There has also been a shift in the business mood, away from M & A to more of an organic growth emphasis.
Similarly the broad trend of repatriating manufacturing, also termed‘ on-shoring’ or at least‘ nearshoring,’ has shifted. What started as an effort to create more robust supply chains in the wake of pandemic disruptions has evolved to emphasise production‘ in region for region’.
Brooke DiDomenico, chief technology officer with Nation Ford Chemicals, reported that there were more than 1,200 registered attendees this year, a 20 % increase from 2024, including more than 400 first-time attendees. The 580 companies present, either as attendees,
60 SPECIALITY CHEMICALS MAGAZINE ESTABLISHED 1981