Following the Thread: Chemical Industry

Vincent Petit and Mike Rosenberg

Chapter 11 in The Next Industrial Revolution:A New Age for Innovation in Industry, 2023, pp 213-230 from World Scientific Publishing Co. Pte. Ltd.

Abstract: In the previous chapters, we have explored upcoming transformations in a variety of industries. All these industries provided us with a glimpse of what is likely to change in the manufacturing of modern goods. I obviously could not be exhaustive for all sectors of activity, but I found that these four sectors (construction, automotive, machines, and electronics) were most representative of all others in the manufacturing space. These industries indeed show relatively similar opportunities, albeit in their own context. There is a significant potential for higher productivity in every sector, which is notably magnified by digital technologies. Additive manufacturing also raises some hopes that disruptions in production could be within reach, and this could be further enhanced by the use of alternative materials with designed-for-purpose characteristics. More importantly, the way these products are effectively used in modern life is also ripe for change. The dematerialization of many services and the rise of new business models will be two of such key transformations, fueling a more efficient but also more circular economy by extending the lifetime of goods and optimizing the production of virgin materials. An increasingly digitized economy will also enable a refoundation of supply chains with end-to-end traceability and greater customer engagement services, while design tools will help accelerate the development of complex products and assets that will become easier to service, reuse, and recycle. A key finding is that all these changes appear to be inevitable. Many rely on technology developments that are almost already here and simply require further diffusion and scale. Other transformations might take more time, but again one should realize that nowadays, technology knows no frontiers. A clear paradigm shift of the last century has been the internationalization of science. As Louis Pasteur said (Quote park, n.d.): “Science knows no country, because knowledge belongs to humanity, and is the torch which illuminates the world”…

Keywords: Industry Revolution; Innovation; Decarbonization and Climate Change and Environment; Circularity; Productivity; Resiliency; Greenhouse Gas; Materials and Resources; Digital Technologies; Internet of Things; New Energy Technologies and Electrification; Nano- and Biotechnologies (search for similar items in EconPapers)
JEL-codes: O13 O3 Q4 Q43 Q48 Q5 (search for similar items in EconPapers)
Date: 2023
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