For many U.S. chemical companies, burgeoning global trade promises to open up significant opportunities in the years ahead. Further, U.S. chemical exports are poised for robust growth through the end of this decade as new plants built to take advantage of abundant supplies of shale gas come into production.
To deal with the exposures that international growth brings, companies need to identify the risks that their foreign operations will entail and develop a robust risk management strategy to address them.
By 2019, the United States is expected to run a $77 billion trade surplus in chemicals as total U.S. chemistry sales exceed $1 trillion.
A preemptive approach that includes working with an insurer that understands the chemical industry and has a strong global presence can help to potentially mitigate the exposures and let companies focus on making the most of new opportunities.
Read what exposures chemical companies can face as they participate in their industry's international growth, and measures you can take to address those risk.