Kevin Swift, ACC Chief Economist07.01.15
Editor’s Note: The American Chemistry Council (ACC) issued its 2015 edition of the Guide to the Business of Chemistry, a detailed economic profile of the chemistry industry and its contributions to the U.S. and world economies.
American chemistry is the global leader in production, providing more than 15% of the world’s chemicals and representing 14% of all U.S. exports. It is also one of America’s largest manufacturing industries, an $801 billion enterprise providing 804,000 high-paying jobs. For every one chemistry industry job, 6.3 others are generated in other sectors of the economy, including construction, transportation, and agriculture, totaling nearly six million chemistry-dependent jobs.
The business of chemistry is the building block for everything around us. Supporting nearly 25% of the U.S. GDP, the business of American chemistry is vital to continued economic expansion, job creation, and the return of a strong domestic manufacturing sector.
At the midway point in 2015, the business of chemistry is poised for growth. Ongoing recovery of end-use markets, sustained competitiveness, and the return of global economic growth will lift demand for American chemistry for several years and in the long-term the industry will grow faster than the overall economy.
Prepared annually by ACC’s Economics and Statistics Department, The Guide to the Business of Chemistry divides the $801 billion business into more than 30 categories of production, ranging from inorganic chemicals to plastic resins; from adhesives and sealants to oilfield chemicals; and from fertilizers to pharmaceuticals and consumer products. Within each segment the report highlights distinct characteristics, including growth dynamics, markets, new developments, and other issues affecting each sector. Individual sections of the guide cover a variety of topics in detail, including financial performance, U.S. and global trade, innovation, capital investment, employment, environmental, health and safety statistics, energy, and distribution. Charts and graphs help illustrate data and provide comparisons for the past 10 years.
The American Chemistry Council (ACC) represents the leading companies engaged in the business of chemistry. The Guide to the Business of Chemistry is available to ACC members for $285.00 and non-members for $385.00. To order or download an electronic version, visit https://store.americanchemistry.com/2015GBC_Digital or https://store.americanchemistry.com/2015GBC_HardCopy if you would like to order a bound, printed version. Alternatively, orders can be placed by calling (301) 617-7824.
American chemistry is the global leader in production, providing more than 15% of the world’s chemicals and representing 14% of all U.S. exports. It is also one of America’s largest manufacturing industries, an $801 billion enterprise providing 804,000 high-paying jobs. For every one chemistry industry job, 6.3 others are generated in other sectors of the economy, including construction, transportation, and agriculture, totaling nearly six million chemistry-dependent jobs.
The business of chemistry is the building block for everything around us. Supporting nearly 25% of the U.S. GDP, the business of American chemistry is vital to continued economic expansion, job creation, and the return of a strong domestic manufacturing sector.
At the midway point in 2015, the business of chemistry is poised for growth. Ongoing recovery of end-use markets, sustained competitiveness, and the return of global economic growth will lift demand for American chemistry for several years and in the long-term the industry will grow faster than the overall economy.
Prepared annually by ACC’s Economics and Statistics Department, The Guide to the Business of Chemistry divides the $801 billion business into more than 30 categories of production, ranging from inorganic chemicals to plastic resins; from adhesives and sealants to oilfield chemicals; and from fertilizers to pharmaceuticals and consumer products. Within each segment the report highlights distinct characteristics, including growth dynamics, markets, new developments, and other issues affecting each sector. Individual sections of the guide cover a variety of topics in detail, including financial performance, U.S. and global trade, innovation, capital investment, employment, environmental, health and safety statistics, energy, and distribution. Charts and graphs help illustrate data and provide comparisons for the past 10 years.
The American Chemistry Council (ACC) represents the leading companies engaged in the business of chemistry. The Guide to the Business of Chemistry is available to ACC members for $285.00 and non-members for $385.00. To order or download an electronic version, visit https://store.americanchemistry.com/2015GBC_Digital or https://store.americanchemistry.com/2015GBC_HardCopy if you would like to order a bound, printed version. Alternatively, orders can be placed by calling (301) 617-7824.