Driven by a surging domestic supply of low-cost natural gas and natural gas liquids, the U.S. petrochemical industry has been revitalized. A wave of investment is under way: companies and investors have already announced planned capital expenditures in excess of $70 billion by 2020 and $100 billion by 2023.
To be successful, the many companies investing billions of dollars in chemical facilities in the Gulf Coast need to overcome significant hurdles — project management, organizational development, feedstock sourcing, and sales and marketing knowledge, according to a Boston Consulting Group report.
The opportunity is indeed sizable. But the prize will not be easy to win, especially for the substantial number of stakeholders, both U.S. based and foreign, that are new to the market or have had a limited presence historically. Competitors will have to develop strategies and capabilities specific to the region. Read more.
