The chemical-pharmaceutical industry, like other industrial sectors, is facing transformative changes exemplified by ‘Industry 4.0’–including digitalization, circular economy approaches, and other innovations impacting its business model. These changes also affect the relationship with its customers, and the required skills and training needs for its employees. Based on several interviews with experts conducted as part of Climate-KIC’s Pioneer in Practice program, this commentary looks at emerging challenges and opportunities the chemical sector will be facing in the next decade and beyond. It also provides examples where new technologies, capacities and collaboration models have been combined into successful sustainable business models.