The nature of the fine chemicals industry, and its associated cost structures, make traditional sourcing strategies limited in their ability to add value. It is a closely knit community, with a small number of players using raw materials (commodity chemicals) that exhibit a high level of price volatility. This calls for a unique blend of strategies to reduce costs and add value.
In this paper, we discuss how to best leverage the current environment and emerging trends in this industry to create a successful, sustainable sourcing strategy for fine chemicals. We also review together the market landscape and factors that influence it.