As I reflect on a year marked by an unpredictable and variable business landscape, I want to commend you on your resilience and tenacity. Fortunately, we seem to be sailing into calmer waters, with more reports coming in that a rebound appears to be afoot.
Recognizing the challenges our industry faced this year, SOCMA was there with you doubling down to bridge the gap between customer needs and our industry's specialized capabilities, a strategy that has proven successful.
We launched a podcast series and infused commercial programming into our annual conference, providing insight into business conditions, market trends and the regulatory impacts on U.S.-based chemical manufacturers.
We culminated SOCMA’s 2023 commercial efforts by publishing the first Contract Manufacturing Outlook Report. This unique deliverable reveals compelling insights into our sector’s trajectory by looking at trends and identifying available capacities at specialty, custom and toll chemical manufacturing sites. These are then compared to what outsourcing capabilities customers will need over the coming year. SOCMA’s Contract Manufacturing Outlook report was designed to support your near-term and outyear planning, so I hope you take advantage of this valuable resource to aid your company’s strategic planning process.
Fostering connections is central to SOCMA's mission. The strength of our collective network is immeasurable, leading to innovative collaborations and partnerships. Working together, we have come a long way in the past year.
I thank you for your unwavering support and collaboration. My team and I look forward to our continued partnership as we build upon this strong foundation in the year ahead.
In this first-of-its-kind report, SOCMA’s newly released Contract Manufacturing Outlook Report compiles industry data specific to the specialty and fine chemicals and contract and toll manufacturing sectors to provide insight into the buyer/toller relationship.
The report brings a forward-looking perspective, providing critical information for budgeting and strategic planning for next year and allows for a year-over-year comparison of important business strategy data.
A few key findings:
Anticipation of Positive Outlook in 2024. Amidst an industry recession and destocking trends in 2023, specialty chemical manufacturers are showing resilience and optimism.
Strategic Investments and Business Growth. The data indicates a strong emphasis on capital investments among both tollers and their customers.
Reshoring and Collaborations in North America. Post-pandemic, there is a discernible push for reshoring chemical products and fostering greater manufacturing collaborations in North America.
A complimentary copy of the full report is available to all SOCMA members.
SOCMA’s Lead Sheet Program is a critical connector, ensuring SOCMA members have visibility to relevant and timely business opportunities.
Lead Sheets are SOCMA’s B2B matchmaking service for companies in search of contract manufacturing, piloting and scale-up, process development and R&D partners.
Expanding beyond SOCMA membership, the Lead Sheet Program demonstrates our industry reach. In 2023, 96% of Lead Sheet requesters were non-members.
Program users include: companies looking for help outsourcing a project; large, publicly traded companies and small start-ups; and contract manufacturers and tollers.
More than 60 different capabilities have been requested, ranging from amination, condensation, esterification, hydrolysis, oxidation to polymerization.
The 2023 SOCMA Show, our premier commercial networking event, was a resounding success earlier this year.
Scheduled for February 19-21 at the J.W. Marriott in Nashville, our goal for the 2024 SOCMA Show is to bring together the customers and attendees you want to do business with.
This is the ultimate event for the specialty chemicals industry, to network with leading suppliers, buyers and experts.
Whether you are looking for new opportunities, insights or solutions, you will find them at the SOCMA Show in Nashville.
You told us industry conferences and trade shows are your primary source for assessing business conditions and identifying market insights. Learn more about our SOCMA events and contact SOCMA for details on how to leverage your participation at each!
SOCMA Show JW Marriott Nashville February 19-21, 2024
The SOCMA Show is the place to launch and announce new company capabilities. We're putting together a printed capability guide to facilitate lead development and generation.
The SOCMA Summit is our organization's annual conference. This meeting offers interactive roundtables and discussion on topics that impact the Specialty Chemical Industry, and celebrates our members.
.png?upscale=true&width=314&upscale=true&name=MicrosoftTeams-image%20(17).png)
