On 5 May 2021, the Commission adopted the Communication “Updating the 2020 Industrial Strategy: towards a stronger Single Market for Europe's recovery”. It reflects on key lessons learned during the last year, notably the need to reduce strategic dependencies, strengthen own capacities and the single market, and shape the green and digital transition. An accompanying staff working document analyses strategic dependencies in each product group and provides a deep dive chapter on dependencies in the raw materials area, discussing ways forward including strategic partnerships and the work of the European Raw Materials Alliance.

The Annual Single Market Report 2021 presents a first analysis of the challenges faced by 14 industrial ecosystems and suggest that these analyses can serve to co-create, in partnership with industry, public authorities, social partners and other stakeholders, transition pathways for ecosystems. Priority should be given to the ecosystems and sectors that face the most important challenges, such as energy-intensive industries, construction, tourism and mobility. The pathways should take into account relevant inputs and will offer a better bottom-up understanding of the scale, cost, long term benefits and conditions of the required action to accompany the twin transition for the most relevant ecosystems, leading to an actionable plan in favour of sustainable competitiveness.