25 June 2019, Brussels. – In releasing its Mid-Century Vision report titled ‘Molecule Managers’, the European Chemical Industry Council (Cefic) launches a dialogue about the future of the chemical industry and its role in building a prosperous and more sustainable Europe by 2050.
The next ten years will be decisive for the future of the EUchemical industry. During this time, it will need to develop its own competitiveplace in the global economy while adapting to new challenges. These challenges includea decline in globalisation and free trade, the EU goal of a climate neutral economy,a talent crunch and increasing transparency of supply chains due to digitalisationand blockchain.
Daniele Ferrari, Cefic President said: “We will lead this transition by offeringEuropean sustainable solutions to global challenges. The“European way” means innovating towards circular models and being at theforefront of new technologies. We invite all parties to engage in thediscussion with us to define this European way.”
Based on a thorough analysis and dialogue, we conclude the chemical industry can play a key role in transforming waste into valuable feedstock or new materials and can further integrate with other industrial sectors. As European society moves towards greater circularity, the importance of this role will only grow. Chemical recycling is one of the technologies that will make this possible.
A more extensive use of artificial intelligence andblockchain technologies will make chemicals production and chemical riskassessment more efficient and transparent. It will also help better tracksubstances of concern in supply chains and further improve the safety ofchemicals in the EU. Applying all these technologies will require a workforcewith a completely different skills set.
The report is not a forecast but rather a foresight and an invitation to all stakeholders to enter into dialogue with us. Based on these discussions and feedback, Cefic will be regularly updating this Vision.
Note to editors:
The findings are the result of a rigorous quantitative and qualitative consultation processthat is the broadest ever undertaken by the European chemical industry. Conductedover the past 18 months, it has involved more than 300 stakeholders from arange of disciplines, chemistry and beyond. We engaged the Copenhagen Institutefor Future Studies to advise us on the megatrends transforming our world. Weinvited Korn Ferry International to educate us on what’s happening in theglobal talent market. We analysed reports from the Organisation for EconomicCooperation and Development, the European Commission, the World Economic Forumand McKinsey. Based on those discussions a series of assumptions weremade, which hundreds of experts from around the world were invited to challenge.For the list of all economic, demographic, geopolitical and technologicalassumptions please consult Annex 1 of the Mid-CenturyVision.