ACC Issues Economic Profile Of American Chemistry

June 24, 2016
American Chemistry Council publishes 2016 comprehensive economic profile of $797 billion business of American chemistry.

The American Chemistry Council (ACC) issues its 2016 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 over 15% of the world’s chemicals and representing 14% of all U.S. exports, according to ACC. It is also reportedly one of America’s largest manufacturing industries, a $797 billion enterprise providing 810,000 high-paying jobs. For every one chemistry industry job, 6.3 others are generated in other sectors of the economy, according to ACC, including construction, transportation and agriculture, totaling nearly 6 million chemistry-dependent jobs.

“2016 has so far proven to be another year of robust and sustained growth for the American chemical industry,” says lead author, ACC Chief Economist Kevin Swift. “Growth is happening despite economic challenges, and compared to producers in other parts of the world, American chemical manufacturers are greatly advantaged with access to cheaper and more abundant feedstock and energy, resulting in significant capital investment in American chemistry – nearly $44 billion in 2015.”

Prepared annually by ACC’s Economics and Statistics Department, The Guide to the Business of Chemistry divides the $797 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 topics 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 ten years.

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