The future of materials is being shaped by two key forces – a heightened focus on sustainability and changing customer preferences. The chemicals industry is under increasing pressure to reduce emissions, increase recycled inputs, and develop safer chemicals, driven by stakeholders like governments, NGOs, investors, and consumers. Global demand for plastics is expected to triple by 2060, while over 75% of the chemical industry’s emissions are scope 3. Consumers are demanding the same or better performance and affordability in addition to sustainability. Shifts in demand, such as the growth of electric vehicles and bans on single-use plastics, can reverberate through the entire supply chain, especially towards more sustainable goods.
Key Takeaways
- Sustainability pressures are driving the chemicals industry to reduce emissions, increase recycled inputs, and develop safer chemicals.
- Changing consumer preferences, such as the demand for electric vehicles and bans on single-use plastics, are reshaping the industry.
- Advancements in materials science will enable the development of innovative, sustainable, and affordable products.
- Emerging technologies like artificial intelligence and 3D printing are accelerating materials research and discovery.
- The number of known chemical substances is growing exponentially, unlocking new opportunities across industries.
Driving Forces Shaping Material Sciences
The chemicals industry is under increasing pressure to reduce emissions, increase recycled inputs, and develop inherently safer chemicals. This pressure comes from a variety of stakeholders, including local and federal governments, NGOs, investors, industry groups, and downstream consumers. Over 1,700 companies and financial institutions globally have announced net-zero commitments, and 59% of respondents reported their companies have started using sustainable materials. Recent policies and regulations, such as the Inflation Reduction Act and the European Union’s Fit for 55 package, aim to promote clean energy, energy efficiency, and longer-lasting, repairable products.
Sustainability Pressures
The chemicals industry faces growing sustainability pressures to reduce emissions and increase the use of recycled inputs and inherently safer chemicals. This is driven by stakeholders like governments, NGOs, investors, and consumers who are demanding a low-carbon future and progress towards net-zero commitments and sustainability targets. Addressing these pressures is crucial for the industry to remain competitive and meet the evolving needs of the market.
Shifting Consumer Demands
Consumer preferences are shifting due to demographic changes, policy incentives, and growing awareness of issues like plastic pollution. Demand for medical devices is forecast to rise nearly 50% by 2029 as the population ages, while global electric vehicle demand is expected to increase eightfold by 2030. Several regions, countries, and states have banned single-use plastics, and a United Nations treaty to end plastic pollution could be signed as early as 2024. Consumers generally want the same or better performance and affordability in addition to sustainability, which may require chemical companies to reevaluate their portfolios and consider the downstream use of their products to reduce scope 3 emissions.
Advancements Enabling Material Innovation
Advancements in enabling technologies like robotics, artificial intelligence (AI), 3D printing, material informatics, and synthetic biology are accelerating materials science research and development. AI has expanded rapidly, with the volume of US AI patent applications rising from 10,000 in 2000 to 80,000 in 2020. The field of materials informatics is leveraging AI to improve processes across the value chain, from material discovery to quality control and supply chain management. Initiatives like the Materials Genome Initiative aim to expand the range of advanced materials and accelerate time to market.
Enabling Technologies
Robotics, AI, and 3D printing are revolutionizing materials science, enabling more efficient and precise experimentation, prototyping, and production. Quantum computing and synthetic biology are also emerging as powerful tools for accelerating material discovery and development. These enabling technologies are driving a new era of rapid material innovation, unlocking unprecedented opportunities across industries.
Rapid Material Discovery
The number of known chemical substances has been growing exponentially, doubling every 13 years from some hundreds in 1800 to about 19 million today. By 2025, it is expected to reach 80 million, and by 2100, 5 billion. This rapid expansion of materials knowledge is enabling new opportunities across industries, from semiconductors to energy storage, transportation, and healthcare. The discovery of a single new chemical substance can lead to massive new market opportunities, as seen with the development of the first iPod. Materials science research is crucial in many areas, especially in the semiconductor space, where improving performance and capabilities requires experts with PhDs in materials science to conduct experiments with specialized equipment.
Conclusion
Advancements in materials science are poised to revolutionize industries across the board, from manufacturing and construction to electronics and healthcare. Driven by sustainability pressures and shifting consumer demands, the chemicals industry is investing in research and development of innovative advanced materials that offer improved performance, sustainability, and affordability.
Enabling technologies like artificial intelligence, 3D printing, and synthetic biology are accelerating the pace of material discovery and application, unlocking new possibilities for solving global challenges. As the number of known chemical substances continues to grow exponentially, the future of materials science holds the key to a more sustainable, technologically advanced, and prosperous world.
The impact of materials science on various industries and sustainable development is undeniable. By harnessing the power of these advancements, we can pave the way for a more innovative and eco-friendly future, where the products and technologies you rely on are not only better performing but also more environmentally responsible.