Patents
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Patent filings fall into three main categories: materials, applications and processes. Of these three, materials-related patents were the most common. Many of these cover incremental improvements of existing materials—rather than new materials—and focus on enhancing performance characteristics such as flexibility, durability, electroluminescence and chemical resistance. Meanwhile, there was a relatively low number of process patents. This may be in part due to a desire not to publicize process innovations, but it also suggests that the industry may not be investing enough in the core processes that will be required to reduce carbon footprints and meet the growing demand for more sustainable products.
Startups
Chemical-related startups, which have seen dramatic growth in funding, are addressing many of the industry’s important growth areas, including building materials, waste management, additive manufacturing and machine learning (ML), which together represent about 30% of the total startup investment in recent years. Nearly 20% of investments have been focused on digital solutions such as AI/ML for molecule discovery and quantum computing for simulations, or activities in the fields of e-commerce and business-to-business interactions. Startups exploring materials that support CO2 reductions and the circular economy account for 10% of investment share.
Corporate venturing
Much of the industry’s corporate venturing continues to focus on existing product groups such as agrichemicals, paints and coatings, and food ingredients. Chemical companies appear to view their corporate venturing activities as an extension of their in-house R&D efforts, rather than a way to explore uncharted territory. And instead of seeking disruptive innovations for the market, they are primarily targeting improvements to their internal capabilities and looking for new applications for existing molecules. The picture changes somewhat with technology-related investments, with growth in AI, 3D printing, hydrogen/fuel cells and analytics—areas where companies presumably see potential for innovation.
Partnerships
While getting close to the customer is a well-established credo in the industry, partnerships with customers have been less frequent than those with other chemical companies on average over the past five years. Looking forward, growing fields such as 3D printing and circular economy products and processes will require close collaboration with customers. Increased partnering with technology providers, currently fairly rare, also offers opportunity. As part of an asset-intensive and data-rich industry, chemical companies can use AI, ML, analytics, Industry X, quantum computing and so forth to further improve operations and extract value from data and assets.
There are thousands of industrial chemicals. Some are used to make consumer goods, others to create energy, and some are even used in the production of other industrial chemicals. Which chemicals are most important for industrial manufacturing on a global scale?
Sulfuric Acid (H2SO4)
Sulfuric acid is the most commonly-produced industrial chemical in the world. Its primary industrial use is to make phosphoric acid which is a main ingredient in most chemical fertilizers. Sulfuric acid is a critical component for metal manufacturing, particularly in the production of copper and zinc as well as the cleaning of steel. Sulfuric acid output grows over 3% a year and is driven in large part by demand from the Asia-Pacific region.
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Ethylene (C2H4)
Over 150 million tons of ethylene is produced every year, more than any other organic compound. Its demand can be attributed in large part to advancements in polymer production, particularly polyethylenes. It can also be used to make other industrial chemicals such as ethanol. How is ethylene produced? Usually via steam cracking of crude oil resulting from a process commonly known as “fracking.”
Sodium Hydroxide (NAOH)
Sodium Hydroxide is an inorganic compound vital to many industries. It’s used for industrial applications ranging from paper production to textile development to cleaning agent manufacturing; over 70,000,000 tons are produced each year. It is typically derived as a co-product during the manufacture of chlorine. Its popularity rests largely on its inexpensiveness and its ability to “scrub” gases to effectively remove acids during burning.
Propylene (C3H6)
Also known as propene and/or methyl ethylene, propylene is an organic gas compound. It’s a natural byproduct of the fermentation process, making it an important chemical compound for the advancement of the green chemistry sector. Conversely, it is also produced from fossil fuels. Propene is hugely significant to the petrochemical industry and as a raw material for a variety of products. Over 85,000,000 tons of it are produced globally each year, primarily as fuel or for rubber/plastic production.
Nitrogen (N2)
Hundreds of millions of tons nitrogen gas are produced each year. When combined with hydrogen, nitrogen produces ammonia, itself a crucial industrial chemical. Nitrogen is used for an array of products including fertilizers, fabrics, dyes, and even explosives. As a gas, it also creates an “unreactive atmosphere,” and thus is useful for preserving foods and in the sterile electronics industry. In liquid form, nitrogen is important for medical research and preservation. Nitrogen is usually produced using a process called fractional distillation.
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