Global Materials Sector Top 10 Growth Opportunities in 2024 - Focus on the Megatrends to Drive Innovation in Automotive Materials

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Mar 08, 2024, 14:00 ET

DUBLIN, March 8, 2024 /PRNewswire/ -- The "Top 10 Growth Opportunities in the Materials Sector, 2024" report has been added to ResearchAndMarkets.com's offering.

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.

Top 10 Growth Opportunities

Invest in Chemical Recycling of Plastics
Tap the High-growth Trends in Packaging
Focus on the Megatrends to Drive Innovation in Automotive Materials
Promote Materials that Help Advance Lightweighting in the Aerospace Sector
Follow Changing Trends in Construction
Focus on Untapped Products and Industries for Mechanical Recycling
Follow Trends in Material Preferences in the Healthcare Sector
Develop Materials for Automated Application Equipment and Technologies
Develop De-bondable and Recyclable Adhesives for Structural Applications
Derive Benefits from New Developments in Transportation Infrastructure

For more information about this report visit https://www.researchandmarkets.com/r/w8mxfs

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SOURCE Research and Markets