Page 182 - CW E-Magazine (7-1-2025)

18th Annual GPCA Forum

behind other sectors in its decarbonisa- tive role for technological innovation in Looking ahead, Mr. Koch said the
tion efforts. the sector’s future. “Artificial Intelligence industry must prioritise radical innova-
(AI) stands out as a game-changer, offer- tion, particularly in AI, to unlock new
Despite these challenges, the future ing the potential to revolutionise research possibilities in digitalisation and de-
holds opportunities for growth, said and development, enhance process effi- carbonisation. “A clear net-zero stra-
Mr. Koch. Demand for petrochemicals ciency, and enable entirely new business tegy is essential to maintaining com-
is projected to double by 2050, present- models. With this innovation, the indus- petitiveness, with a focus on reducing
ing vast investment opportunities, par- try has an opportunity to strengthen profit- emissions across Scopes 1, 2 and 3.
ticularly in Asia, China, and the MENA ability while advancing its sustainability Circularity, through the development of
region. Products with lower CO foot- goals,” he pointed out. alternative feedstocks and sustainable
2
prints and alternative feedstocks are products, also represents a critical area
emerging as critical growth areas. The Mr. Koch emphasised the importance for growth,” he said.
industry itself is likely to evolve into of resilience, collaboration, and strategic
distinct segments: those reliant on fos- transformation in navigating the uncer- “The global chemical industry
sil-based production and those embrac- tain global landscape. Industry leaders stands at a crossroads, grappling with
ing sustainable feedstocks. Consolida- face tough decisions on whether to acce- immediate challenges while position-
tion trends are expected to continue, lerate or pause sustainability initiatives ing itself for a future driven by inno-
particularly within petrochemicals and amid economic pressures. However, the vation, sustainability, and strategic
speciality chemicals, as companies systemic importance of the chemical collaboration. The choices made today
strive for scale and efficiency. sector in enabling global innovation and will shape not only the industry but also
development underpins the need for a uni- its role in addressing the world’s most
Mr. Koch emphasised the transforma- fied approach to tackling its challenges. pressing challenges,” he added.

FEEDING THE WORLD
Agri-nutrients sector banking on partnerships and

next-gen solutions to tackle global food security

challenges

A panel comprising prominent agri- growth rather than land expansion, he technology has a huge role to play in
nutrients industry leaders debated noted. helping meet the food security chal-
the critical challenges of feeding a lenges. “There is a growing market
growing global population, projected “Agriculture accounts for 30% of for sustainable and speciality fertili-
to reach 9.5-bn by 2050. The global greenhouse gas emissions, and sers, and markets are now starting to
experts discussed the increasing strain 70% of freshwater use. It is estimated commoditise. This includes products
on resources, the role of innovation, that 715-mt of CO equivalent per like enhanced efficiency fertilisers,
2
and the urgent need for collaboration year was generated from mineral which improve the performance of
across the agriculture sector. nitrogen fertiliser in 2020. It is estimated conventional mineral products,” said
that 20-50% of those come from Mr. Flook.
“Population growth will far out- Scope 1 and 2 activities and fertiliser
strip available land growth and food production, but up to 80% comes Mr. Yasser Al Abbasi, CEO, Gulf
demand will continue to rise as the from application in the field. We can Petrochemical Industries Company
world gets rich,” said Mr. Christopher reduce much of that with nutrient-use (GPIC), emphasised the industry’s
Flook, President, Expansion Markets, efficiency, technical innovations like ethical responsibility to educate and
Argus. inhibitors and sustainable agricultural collaborate with farmers, particularly
practices like crop rotation and land in regions where knowledge gaps
Limited arable land and concerns sparing,” he said. hinder effective fertiliser use.
over biodiversity loss and climate
impacts necessitate a focus on yield Innovation in fertilisers and bio- “Farmers, in general, are simple

182 Chemical Weekly January 7, 2025

Contents Index to Advertisers Index to Products Advertised