Chemical Industry - Collaboration and Partnership

Scarcity of resources is a real concern, globalisation and growing middle class has increased the demand of goods and services. Our consumption patterns points out that in order to survive, we would require an additional earth to fulfill our resource hunger. Sustainable well-being of the population demand us to design systems with higher productivity, reuse of resources, develop smart ecosystems within high density cities to curtail public spending, alternative feed stock to create bio based society, create advance transportation technologies, access to clean water, and cost effective water management the list goes on and on. Agenda is to identify stakeholders who can contribute real value.

Chemical industry is one of the key contributor which drives progressive change towards a better future.

Since the days of alchemy till the date of modern chemistry, chemical industry has served the society by creating value. Developing processes and techniques that are necessary to feed the modern factories that create products like solar cells, microprocessors, smart textiles, OLEDs, and finally make our lives better today compared to yesterday.  

From basic chemicals to advance materials the efforts continues to develop solutions for our existing problems. Following are some of the areas where the chemical industry needs to focus to create positive societal impact, which in turn helps in job creation:

• Water and Agri-Economy
• Energy Management
• Urban development
• Future Mobility 

In some of the most populated countries, agriculture is the biggest GDP contributor to the economy. Yet the challenge remains to have higher crop yields with less consumption of water, post-harvest management to delay spoilage to enable the farmers to get the most out of there produce.

Developing countries are starving for energy, their increasing demand effects the fossil fuel consumption. Less efficient energy management hurts these smaller economies due to higher cost of management. Need lies in identifying cleaner and efficient energy production as well as mitigating losses and hence rise the need for smart grids. 

Governments are challenged as millions of people move out of villages and head towards the cities, quality living and affordable housing become a need for social harmony. Solutions for green buildings, integrated utility systems, waste management, and infrastructure projects are answered through public private partnerships led by industry experts. 

Transportation plays a vital role in the global economy, from transporting people to goods. Autonomous cars to high speed rails, Drones delivering pizza to just in time delivery of industrial goods. Functionality and speed remains the key struggle in this area. Cost optimized technologies that will help transition of ICE to EV will be the most exciting development of our time.  

Chemical industry creates the most innovate materials and chemicals that help us design better products and come up ideas that generate concepts for next generation of products. Chemical industry can create larger impact for the society and higher shareholder value, create unique value propositions within their product lines, and create jobs. But all of it is easier said then done. Companies still need to work on co-creation concepts with their customers, develop open organisational culture which will help in idea creation, retain motivated talent, and enhance collaboration internally as well as externally. These measures are key growth contributor for organisations to remain on the path of developing innovative products and processes for above average returns. 

Extremely excited for my two daughters who might grow up to a brighter world due to chemistry.