There are some interesting employment trends in the specialty chemicals market right now; demand for talented employees is high, and companies are doing what they can to retain the brightest and the best. Here’s a closer look at what’s happening.

A Diminishing Workforce

Demand for talent continues to be on the rise as evidenced by a record number of counter offers in the hiring process. Demand is rising because companies in the chemical industry are growing and more workers are retiring at the same time. With that growth comes new roles, and with retirement comes vacancies. Since the 80s, the height of the chemical industry, the workforce has been steadily declining. The candidate pool is shrinking due to the age of the workforce. Baby Boomers are retiring, Generation X is not plentiful enough to backfill them, and the Millennials don’t have enough experience to fill the gap.

Hope on the Horizon

There is hope on the horizon though as the American Society of Engineers has reported that the enrollment of engineer students has been on the rise. The American Chemistry Council (ACC) is also predicting a 3.7% uptick in US chemical production for 2018 which is putting the market in a great place. All that is needed are the workers.

A Perfect Investment Opportunity

One thing that stands out is that the specialty chemical market is primed for investment and it has already begun. Many private equity companies are pouring resources into companies that want to grow or others that are getting off the ground.

What keeps the demand increasing is the need for high quality chemicals in manufacturing. In the US., Chemicals are in everything we use every day. Foreign competition does exist, but their ability to replicate the quality of the US product falls short of standards.

Follow the money; if you follow private equity investment you will see record levels of investing in the chemical industry. That is because the technology can be difficult to duplicate and the barrier to entry is expensive to break. This creates a protected market.

Are you looking for top talent in the Specialty Chemical and Plastics industry?

Contact us to discuss how we can bring top leadership talent to your team. Boaz Partners is a premier executive search firm focused on the direct recruitment of executives and professionals for the specialty chemicals and plastics space. We are your partner, and our focus is on custom recruiting solutions.