Survey Says: Raw Materials, Labor and Energy Are Scarce Resources

A report from ABB Motion, "Circularity: No Time to Waste," reveals that 91% of chemical businesses are impacted by resource scarcity, leading 66% to increase investment in circularity initiatives within three years. Scarce resources include raw materials (47%), energy (32%) and labor (28%), causing increased costs, supply chain disruptions and production slowdowns. Despite energy scarcity, 39% consider it their largest source of waste, emphasizing the need for energy efficiency. The survey, conducted by Sapio Research in October 2023 with 337 chemical decision-makers across 12 countries, highlights challenges such as a lack of consensus on circularity definition. However, 73% believe the circular economy fosters innovation and competitiveness, urging immediate action.