As the Middle East continues to strengthen its presence in the global chemical industry by acquiring the latest technologies and diversifying its product portfolio with high-value products, the chemical sector in the region is at the cusp of redefining itself.

With large oil reserves and established chemical industry, enterprises are now looking to choose between manufacturing materials or providing solutions and occupying the catbird seat in that space. A clear roadmap and a well-defined digital strategy can help companies achieve a competitive edge, unlock new efficiencies, and create more business value.

The chemical industry can leverage the experiences from the digitization efforts across the adjacent refinery segment, accelerating their digital journey. LTIMindtree's experience from partnering with the process industry for successful digital transformation programs has emphasized how the success of a transformation initiative is not dependent on the deployment of novel technology but on reimagining all aspects of the business through a digital lens.

Raw material constitutes 50-60 percent of the gross margins of chemical plants. It has been observed that thought-through digital solutions can increase throughput by 15 percent, boost yield by up to 2 percent, and drive energy savings of 4 percent. In today's environment of macroeconomic uncertainty, demand and price volatility, and the global disruption caused by COVID-19, cost efficiency and remote monitoring capabilities are not just nice to have but critical pillars of business continuity. And LTIMindtree partners with processing plants to transform traditional automation islands with fully integrated processes, helping them achieve superior business continuity.