Full Title: Chemistry in Transition: Charting Solutions for a Low-Emissions Chemical Industry
Author(s): Catherine Huyett, Meghan Peltier, Ankur Dass, Brianne Cangelose, Brian Payer, Hartej Singh, Joseph Fallurin, and Anisha Krishnakumar
Publisher(s): Rocky Mountain Institute
Publication Date: January 17, 2025
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Description (excerpt):
The chemical industry is a paradox – while it is a significant contributor to global greenhouse gas (GHG) emissions, it is also critical to enabling emissions reduction solutions across sectors and providing materials for modern life.
Chemicals and materials systems are integral to daily life, underpinning 96% of all manufactured goods. They are also expected to play a pivotal role in climate action, chemicals will play a role in driving 75% of global energy transition technologies like solar PV cells and EV batteries and components. Despite this potential, the chemical industry remains one of the largest industrial emitters of GHGs, accounting for 38% of all energy-related US industrial emissions, with additional significant contributions from feedstock-related emissions like upstream methane leakage.
The industry’s scale and complexity are staggering, with global revenues exceeding $5 trillion annually. It encompasses more than 300 companies with revenues of over $1 billion and thousands of smaller firms, collectively producing over 7,000 products. These products are vital to virtually every end market and geography. However, the sector’s reliance on fossil fuels as both an energy source and a feedstock poses a dual challenge that must be addressed to achieve a climate-aligned chemical industry.