Economic Analysis of National Needs for Technology Infrastructure to Support the Materials Genome Initiative

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Atlanta, GA | Posted: July 2, 2018

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Summaries

Summary Sentence:

New briefing provides findings from economic analysis and interviews with more than 120 industry experts on their needs for new technological infrastructure supporting advanced materials innovation and the potential economic impacts of meeting those needs

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A new report  by the research institute RTI International shows that investing in research infrastructure for developing advanced materials could generate between $123 and $270 billion per year in benefits for U.S. companies and consumers. The report was funded by the National Institute of Standards and Technology.  A brief version of the report has also been made available.

RTI conducted in-depth interviews with more than 120 industry experts and used economic modeling to provide this comprehensive insight. The main research target was the Materials Genome Initiative, a strategic effort spanning multiple federal agencies to promote a globally competitive U.S. manufac­turing sector by addressing important gaps in the Materials Innovation Infrastructure. Its aim is to enable U.S. companies to more rapidly and efficiently develop and deploy advanced materials, with applications ranging from consumer goods, to renewable energy generation and energy storage, to super­computing and national defense.

 Other key findings from the report include:

  • Impacts would originate in the manufacturing sector, which accounts for most private investment in developing and deploying advanced materials. 
  • Ultimately, impacts would benefit most if not all companies and consumers, by improving the performance attributes of all products linked to the properties of the materials from which they are made—from the strength of the glass face of a mobile phone, to the quality of LED lighting, to the fuel efficiency of vehicles and aircraft, to the energy storage capacity of advanced batteries. 

 While a lot of focus is devoted to investment in infrastructure for transportation and energy, this report shows that an investment in research infrastructure could yield high returns for the U.S.

To read the full MGI Economic Impact report, click here.

A brief summary of the report, can be found here.

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Georgia Tech Materials Institute

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Materials
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Status
  • Created By: Farlenthia Walker
  • Workflow Status: Draft
  • Created On: Jul 2, 2018 - 2:51pm
  • Last Updated: Jul 2, 2018 - 2:51pm