By Victoria Scarborough, Ph.D., The ChemQuest Group

In March 2019, the Inside Innovation column examined “How Megatrends Drive Innovation.” Considering the COVID-19 pandemic and other recent events, major shifts in many of the previous megatrends require a reexamination of how they have shifted.

Global megatrends represent changes in our world that have a sustained impact on everyone. Understanding the impact of global megatrends can drive innovation and the need for new products and processes that respond to these changes.

Global Health—While the aging population was previously a primary focus of much research and development, the COVID-19 pandemic put everyone’s health and well-being squarely in the spotlight. The National Science Foundation quickly responded by accelerating approvals of proposals to develop antivirus technologies. Paint and coating formulators submitted a record number of applications for funding new innovative approaches to antiviral formulas. These will hopefully address the needs created by the current and future viral pandemics.

Reshoring for Economic Stability—The global shutdown associated with the pandemic put paint manufacturers in the position of trying to locate domestic sources of raw materials to fill their sales orders. Just-in-time and lean manufacturing processes only work when materials are readily available to make products. Thus, more than 80% of North American manufacturers are reshoring to bring back domestic sources of production and operation. It is estimated that this effort will drive $443 billion of economic value during the next 12 months (Thomas Insights, June 2021). Coatings manufacturers are currently working through their supply chains to ensure their sources of supply are stable.

Global EV—Every major automobile and truck manufacturer has announced plans for conversion to electric vehicles in the next 10–15 years. Thus, battery technology development and its associated heat management, light-weighting, new charging station infrastructure, and transportation and delivery of goods will all be sources of new technology development and innovation. Drone technology is being used for last-mile deliveries, and developments are underway for electric air taxis and short-distance electrically powered airplane flights. These changes will affect how paints and coatings are delivered to the customer.

Less Hydrocarbon, More Carbohy-
drates—Every day, new articles discuss the replacement of petroleum-based raw materials with carbohydrate-based raw material offsets. Consumers are concerned about the wellbeing of the planet and desire safer products in their homes that do not carry hazardous warnings. Packaging, cosmetics, food, homecare, and personal products are all being reformulated to contain less harmful ingredients. Paints and coatings are difficult to fully reformulate with these offsets, but as many raw material suppliers are providing solutions, formulators should remain aware of newly introduced biobased materials.

Climate Change—Still a strong megatrend, climate change has produced the need for products, services and technologies that address issues related to increased environmental temperatures, water shortages, devastating storms, floods, and fires. Innovations in paints and coatings that can help reduce surface temperatures, provide cooler interior buildings, restore damaged homes, and provide resistance to water, mold, and mildew, and UV radiation continue to be necessary to address these adverse conditions.

Cybersecurity—Technologies that enhance the security of the Internet and its users are needed to address the increasing number of global cyberhackers who have taken advantage of the heightened dependence on the Internet during the pandemic. Business and utility shutdowns due to ransomware have created the need for faster responses to these threats. All businesses must remain vigilant and have a plan to address potential cyberattacks.

In a fast-moving environment, we have seen that megatrends can change quickly in the face of drastic global events. Being aware of these changes and keeping in step with the trends can help you stay ahead of the competition by actively seeking new opportunities and collaborations that were not there before and addressing them with innovations that delight the customer.

CoatingsTech July 2021 | vol. 18, no. 7