Contact: Jenny Heumann, (202) 249-6520
WASHINGTON, D.C. (July 21, 2011) – The American Chemistry Council (ACC) today released the 2011 edition of its Guide to the Business of Chemistry, a detailed economic profile of the chemistry industry and the contributions it makes to the U.S. and world economies.
One of America’s largest industries, the business of chemistry is a $720 billion enterprise that produces nearly one-fifth of the world’s chemicals. The U.S. chemical industry also is one of the country’s top exporters, with $171 billion in annual exports, accounting for more than 10 percent of total U.S. merchandise exports. The industry currently provides approximately 784,000 high-paying jobs in the United States, and each job in the chemistry industry also generates an additional 5.5 jobs in other sectors of the economy.
“The chemistry industry is a key driver of the U.S. economy, supporting nearly 25 percent of U.S. gross domestic product (GDP),” said ACC’s Chief Economist Kevin Swift. “As demand for the products of chemistry increase, our industry will continue to be the source of new technologies that will drive economic growth and provide innovative solutions to the challenges ahead.”
Prepared and updated annually by ACC’s Economics and Statistics Department, the guide divides the $720 billion business into five types of production: basic, specialty and agricultural chemicals, pharmaceuticals, and consumer products, and highlights the distinct characteristics, including growth dynamics, markets and new developments, of each segment.
Individual sections of the guide cover a variety of topics in detail, including production and price indices and shipments; United States and global trade; industry financial performance; investment in capital and knowledge; employment; environmental, health and safety statistics; and energy efficiency and greenhouse gas emissions. Charts and graphs help illustrate data and provide comparisons for the past 10 years.
The Guide to the Business of Chemistry is available for $385. To order and download an electronic version, visit http://www.americanchemistry.com/store or call (301) 617-7824.