Plastics and chemicals might not seem very exciting, but they play a vital role in our society. In fact, they are used to produce nearly everything we consume.

The Australian chemicals and plastics industry feeds essential products into almost every sector of our economy, from manufacturing and mining to agriculture and healthcare. The industry is vital to our ability to deal with issues such as climate change, population growth, food security and energy and resource depletion.

And since we know that certain economic, social and environmental activities will soon change the way we live and the products we require, the need for strategic planning for sustained growth has become increasingly important.

That’s why we’ve developed Strategic Directions, the sequel to our Elements in Everything report prepared for the Plastics and Chemicals Industries Association (PACIA). It looks at the technological advances, changing environmental regulations, shifting consumer preferences and societal trends that have the potential to open up new market growth areas for the chemicals and plastics industry.

The study examines how the chemicals and plastics industry can address the current challenges and take advantage of market growth areas. It considers two possible scenarios for the future: the current trajectory and sustainable growth.

Sustainable growth outlines a scenario where actions are taken to address the key challenges and opportunities that the chemicals and plastics industry faces in the upcoming decades. It leads to a strong, vibrant and resilient chemicals and plastics industry that continues to contribute to the economy, creates Australian jobs and protects downstream supply chains.

“Foresight is an art and science which marries analytics with creativity to explore plausible futures. It can help us make wiser choices,” says Stefan Hajkowicz, Leader of our Futures team.

To read the full report, head to our website.

Media: Hannah Scott. P: +61 2 6276 6041. M: 0467 707 182. Email: hannah.scott@csiro.au