Materials market for energy efficient buildings, construction chemicals and flexible packaging will be the key growth areas in 2014 and beyond, according to Frost & Sullivan’s predictions for the global chemical, materials and food industry.
Based on a 2013 Search for Growth survey that involved 1,835 executives in more than 40 countries globally, Frost & Sullivan’s insight highlights new areas of growth.
Materials and chemicals that support and promote clean and sustainable energy technologies and energy efficiency are on the top of the agenda of stakeholders across the value chain, the firm says. With buildings representing one of the biggest energy consumers, governments around the world have started focusing more on energy efficient buildings to reduce their respective carbon emissions and achieve energy efficiency goals.
The growth of net-zero energy and green buildings will drive the need for sustainable insulation systems and materials.
Frost & Sullivan also predicts changes in the consumer lifestyle will attract more interest in new packaging technologies and products such as flexible packaging especially in food and beverage applications, which is the largest end segment application. The increased focus on sustainability will continue to be a major trend in the packaging industry, which supports the adoption of materials from renewable sources.
Frost & Sullivan has also identified the top technologies and markets to watch in 2020. These are: lightweight materials including composites and plastics, bio-based chemicals and materials, shale gas chemicals and infrastructure, advanced coatings, water and wastewater treatment chemicals and solutions, nutritional and functional food ingredients, hybrid personal care markets, agrochemicals and crop protection chemicals.
A broad cleantech recovery, the rise of crowdfunding, risk to electric vehicle growth rates and surprises in rare earth element industry profits lead cleantech research and consultancy Kachan & Co.’s 2014 cleantech predictions.