The American Chemistry Council (ACC) publishes the 2020 edition of the Guide to the Business of Chemistry, a comprehensive economic profile of the U.S. chemistry industry and its contributions to the domestic and global economies.
American chemistry is reportedly the world’s second-largest producer, providing 12% of its chemicals and nearly 10% of all U.S. goods exports. It is one of America’s largest manufacturing industries, a $565 billion enterprise providing 544,000 skilled, high-paying jobs. For every chemistry industry job, more than seven jobs are generated elsewhere in the economy, totaling more than 4.4 million chemistry-dependent jobs. Building and construction, transportation and agriculture are among the many sectors that rely on the chemistry industry.
“Innovations in chemistry enable countless economic and societal benefits,” says Kevin Swift, chief economist at ACC. “Chemistry is playing a critical role in the global battle against COVID-19, and chemistry enables a variety of products that help make our world healthier, safer, more sustainable and more productive.”
Prepared annually by ACC’s Economics and Statistics Department, the Guide to the Business of Chemistry divides the U.S. chemical industry into more than 30 categories of production, ranging from inorganic chemicals to plastic resins, adhesives and sealants to oilfield chemicals, and fertilizers to 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. These include financial performance; U.S. and global trade; innovation; capital investment; employment; environmental, health and safety statistics; energy; and distribution. Charts and graphs illustrate data and provide comparisons with the past several years.
The Guide to the Business of Chemistry is available to ACC members through ACC’s MemberExchange at no cost and to non-members through the ACC Store.
For more information, visit: www.americanchemistry.com
