Sep 12 2012
The world's resources are finite and the combination of increasing population and the requirements of technology companies mean that they are being used at an ever increasing rate.
The supply constraints on critical elements from helium to rare earths -materials that are critical for industries ranging from communications to healthcare - is characterised by a fragmented and uncoordinated input from end users and policy makers. Current strategies of extracting more minerals or using alternative technologies do little to address the growing potential impact of shortages on both future economic growth and carbon emission reduction policies.
A new report by Cientifica and Material Value, "Simply No Substitute," takes a critical look at the current technology and policy landscape in this vital area, and in particular, the attempts to develop substitutes for critical materials.
Co-Author Richard Holliday of Material Value Ltd explained, "an increasing number of our clients are highlighting critical material supply constraints as a potential limiter for future growth, and worrying that there is no clear strategy to resolve this issue."
Tim Harper of Cientifica added "recent advances in life sciences and nanotechnology have given us potential tools to engineer a way around these bottlenecks. While organisations from the World Economic Forum to national governments recognise the issue, and there is a clear need to develop a long term strategy for critical material substitution. "
Simply No Substitute highlights the key issues, the required strategies and proposes the creation of a body to ensure the interests of end-users are represented across this increasingly complex and rapidly developing issue. This will benefit not just end-users, but also primary and secondary producers of critical materials, for who it is currently only feasible to have sporadic and inconsistent interaction with the diverse range of industries that use their materials.
About Cientifica Ltd
Cientifica helps businesses by advising on strategic and sustainable growth, and diversify their products and markets by harnessing emerging technologies. Our broad range of expertise, knowledge and contacts means we are uniquely placed to understand and advise on the complexities, opportunities and pitfalls associated with adopting and commercialising emerging technologies.
About Material Value
From innovation strategy to practical technical advice, Material Value provides a unique array of expert consultancy services centred around materials technology. We work with clients to identify new materials, evaluate market opportunities, solve technology challenges and commercialise innovations.