More unpredictability in demand

In the second half of 2022, demand slowly dropped off, and now, with talks of recessions around the globe, 2023 is a bit unpredictable. When considering specifically the chemical industry, markets like construction will experience more volatility, due to high material costs coupled with rising interest rates.

Already, experts are expecting 
global economic growth to slow to 2.7 percent, down from 3.2 percent in 2022. With this in mind, a rise in demand is not anticipated in the first half of the year, and it's still too early to predict what is to come in the second half.


While we don’t have a crystal ball, there is no doubt that 2023 will bring new challenges and opportunities to the chemical industry when it comes to sustainability, formulations, and sourcing. We are watching the market and demand closely to keep a pulse on how global trends can impact our customers and partners. Subscribe to our Industrial Solutions newsletter to get updated on the latest news, trends and challenges impacting the industry.

Dr. Fikri Alemdaroglu

Business Group Director,

Industrial Solutions


About the author

Dr. Fikri Alemdaroglu is the Business Group Director for Industrial Solutions. With a PHD in chemistry, Fikri has worked for more than 15 years in a variety of chemical positions, including chemical producers like BASF and Daikin in technical and commercial roles. At IMCD, he wears many hats, supporting the team in Germany as the Business Unit Manager of Industrial Solutions & Lubricants, as well as an International Product Manager.
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