The Chemistry Council, a joint industry/government Council, representing the chemistry-based industry to government has approved a £1 billion sector deal proposal.
The Chemistry Council Strategy which was developed by the UK Chemistry Council with significant contributions from SCI and the Chemical Industries Association lays out a vision to transform the industry by supporting innovation, establishing integrated supply chains and developing competitive regions and skills.
The Strategy’s ambition is to drive the sustainability agenda and to increase sector turnover by 50% by 2030. The market led strategy has identified a £200 billion market opportunity tapping into the UK’s four Grand Challenges of clean growth, future of mobility, an aging society and artificial intelligence and data economy. The strategy outlines an extensive innovation programme to access this opportunity and transform the sector.
If agreed, the £1bn Sector Deal proposal will be made up of £500 million from Government and £500 million matched funding from industry. The industry funding has already been committed.
The Chemistry Council Strategy is described as ‘create and make’ supporting the creation of new materials in the UK and also the deployment and manufacture of disruptive technologies in the UK. This approach, the Chemistry Council says, ensures that the research investment delivers skilled and stable jobs in regionally dispersed areas in the UK.
Key aspects to be delivered under the sector deal are:
- A new generation of sustainable materials for a variety of end uses.
- Materials and infrastructure critical to delivering the UK’s Clean Growth agenda and move towards Carbon Neutral.
- Regional infrastructure to attract investment in new manufacturing facilities and skilled jobs into its regional clusters.
- A comprehensive skills programme to facilitate ‘create and make’ in the UK.
‘The Chemistry Council Vision is to build a better world through being at the forefront of commercialising sustainable chemistry innovations,’ said Steve Foots, CEO Croda International and Chemistry Council Industry Co-chair. ‘These disruptive innovations will provide a sustainable, valuable and growing industry delivering both economic and societal benefits.’
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