Sustainability and eMobility to Drive Transformation
This report offers thoughts on the 10 biggest growth opportunities that will shape the materials sector in 2024.
In 2023, the global materials sector grappled with the adverse effects of recent geopolitical events, including war first between Russia and Ukraine and later between Israel and Hamas. The resulting shortages of labor and raw materials significantly spiked the average price of important materials in different parts of the world. Key stakeholders in this sector have been evaluating options such as near-shoring/reshoring and vertical integration to help sustain supply chain resiliency. The analyst expects to see a continuation of this trend in 2024.
Attaining sustainability and a circular economy remains the most important goal tied to mega trends affecting this industry. Companies across the value chain are making considerable efforts to reduce packaging weight and ensure less waste, efficient transportation, and lower net carbon emissions. An increasing demand for recyclable packaging is forcing stakeholders to develop/upgrade recycling infrastructure by integrating recycled materials into feedstock to close the loop. Strategic bans on single-use packaging are forcing the industry to establish efficient waste collection and processing streams. In 2024, key stakeholders in the materials industry will invest in expanding their recycling capabilities through methods including developing in-house capacity, collaborating with third-party recyclers, and making strategic acquisitions.
Table of Contents
Strategic Imperatives
Top 10 Growth Opportunities
- Growth Opportunity 1: Invest in Chemical Recycling of Plastics
- Growth Opportunity 2: Tap the High-growth Trends in Packaging
- Growth Opportunity 3: Focus on the Megatrends to Drive Innovation in Automotive Materials
- Growth Opportunity 4: Promote Materials that Help Advance Lightweighting in the Aerospace Sector
- Growth Opportunity 5: Follow Changing Trends in Construction
- Growth Opportunity 6: Focus on Untapped Products and Industries for Mechanical Recycling
- Growth Opportunity 7: Follow Trends in Material Preferences in the Healthcare Sector
- Growth Opportunity 8: Develop Materials for Automated Application Equipment and Technologies
- Growth Opportunity 9: Develop De-bondable and Recyclable Adhesives for Structural Applications
- Growth Opportunity 10: Derive Benefits from New Developments in Transportation Infrastructure
Next Steps
