This study briefly delineates the types of metrics and methodologies that can be used to quantify the economic impacts of materials modelling from a variety of perspectives including R&D stakeholders, industry stakeholders, and society. The study also investigates how materials modelling impacts the industrial R&D process and outlined the value and potential of materials modelling for industrial research and innovation, competitiveness, and profitability using examples from both the pharmaceutical industry and the molecular modelling industry. Finally, results from a survey of the European manufacturing industry are presented, providing corroboration for the indicators of R&D process improvements found in earlier studies and new data relevant for quantitative economic analyses.