Captial Investment
The business of chemistry is to convert natural materials into their barest elements in order to recombine them into useful products. These processes require industrial-scale versions of some of the equipment familiar to high school chemistry labs. As a result, the chemical industry is very capital-intensive. That is, huge investments in plant and equipment are required to generate these complex chemical reactions.
Sources: Bureau of Economic Analysis and American Chemistry Council analysis (based on Bureau of the Census data). Note that ACC believes that the BEA data undercounts actual spending.
Investment in Knowledge
Innovation and technology have driven the world economy for centuries. The business of chemistry is among the most innovative industries in the world with the business of chemistry accounting for about one in nine US patents. Investment in R&D is a commitment of resources in the present in exchange for an anticipated future stream of benefits. This high level of research is benefiting the industry and society as a whole. The payoff is a rapid rate of technological innovation, evidenced by a constant stream of new products and production processes.
Source: American Chemistry Council