ChemDesign exhibited at Informex 2105 in New Orleans, Louisiana. After a flight delay in Chicago, Dave Mielke and Paul Zizelman joined Rae Johnson at this international event for representatives looking to source or produce fine, specialty, and pharmaceutical chemicals.
We noticed there were more people to interact with this year (show attendance increased to approximately 2500), as well as a renewed focus on our specific market segments.
The show organizer UBM, in partnership with the trade association for the specialty chemical industry, SOCMA, presented their annual Business Outlook Survey. There was an overall feeling of optimism when attendees heard the results, especially as it pertained to business growth projections. Eighty-six percent of respondents project revenues to increase in 2015, with 60% of those projected increases above 10%. When we hear reports on overall manufacturing growth predictions hovering around 4%, specialty chemical production looks to be rising star in the overall sector.
The market segments predicted for the best growth potential are pharmaceutical, industrial products, and biotech materials. This is good news for ChemDesign, we participate and actively seek new business opportunities in the industrial and biotech sectors.
Respondents shared foreign market competition as the largest growing concern, followed by attracting qualified workers and raw material prices. They are planning targets for growth coming from new products, process improvement, developing products with customers, and product extensions.
We feel Informex 2015 was better attended by qualified potential customers who are more optimistic about 2015 than they were about 2014.