The Business Case for Materials Experts in the Boardroom
In today’s rapidly evolving and resource-constrained world, companies that fail to prioritize sustainable materials management risk falling behind. Two emerging concepts – the circular economy and critical materials – are poised to reshape entire industries. Forward-thinking businesses, especially those in finance and manufacturing, would be wise to bring materials and surface engineering specialists into the boardroom. Here’s why:
Navigating the Circular Economy Transition
The circular economy aims to decouple economic growth from resource consumption by designing out waste and pollution, keeping products and materials in use, and regenerating natural systems. For manufacturers, this means a fundamental shift from the traditional “take-make-waste” linear model. Materials experts can guide this transition by:
- Selecting and engineering materials optimized for reuse, repair, remanufacturing and recycling
- Redesigning products for disassembly and extended lifecycles
- Identifying opportunities to replace virgin resources with recycled feedstocks
- Collaborating across the value chain to enable reverse logistics and materials recovery
Savvy financial institutions are already screening investments for circular economy principles. Having a materials specialist on the board signals that a company is serious about capturing the trillion-dollar opportunity the circular economy represents.
Securing Critical Materials Supply Chains
Many of the technologies driving the clean energy transition and the industries of tomorrow – from electric vehicles to wind turbines to semiconductors – rely heavily on critical materials like rare earth elements, lithium and cobalt. These materials are often geographically concentrated, making their supply chains vulnerable to disruption. Materials and surface engineering experts can help companies:
- Assess and mitigate critical materials supply risks
- Identify alternative or substitute materials
- Optimize critical materials usage through advanced manufacturing techniques like additive manufacturing or nanomaterials
- Implement materials recycling and recovery strategies to close the loop
The ability to secure stable, sustainable and cost-effective supplies of critical materials can provide a significant competitive advantage, especially for manufacturers. Materials specialists in the boardroom can ensure this remains a strategic priority.
Driving Sustainable Innovation
The circular economy and critical materials challenges are, at their core, innovation opportunities. Companies that can develop new materials, products and business models aligned with these paradigms will be well-positioned for long-term success. Materials and surface engineering experts bring a wealth of technical knowledge that can spark sustainable innovation, such as:
- Advanced materials like self-healing polymers, super alloys, and green composites
- Cutting-edge surface treatments to improve durability, enable remanufacturing, or replace hazardous materials
- Insights into emerging fields like biomimicry, where biological materials and processes inspire new engineering solutions
Having this expertise in the boardroom can help steer R&D investments and innovation strategies towards a more sustainable future. It sends a powerful signal to customers, investors and employees that the company is committed to responsible materials management.
Conclusion
The business landscape is changing rapidly, and companies that cling to the “business as usual” mindset risk being left behind. By bringing materials and surface engineering specialists into the boardroom, finance and manufacturing firms can position themselves for success in a circular, resource-constrained world. These experts can navigate the challenges and opportunities of the circular economy, secure critical materials supplies, and drive sustainable innovation – all while helping the bottom line. It’s a strategic move that every forward-thinking business should consider.