Contact: Patrick Hurston, (202) 249-6506
Includes Expanded Coverage of Specialty Chemicals and Global Industry
WASHINGTON (June 25, 2013) – The American Chemistry Council (ACC) today issued its 2013 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 fifteen percent of the world’s chemicals and representing twelve percent of all U.S. exports. It is also one of America’s largest manufacturing industries, a $770 billion enterprise providing 784,000 high-paying jobs in the United States. For every one chemistry industry job, more than seven others are generated in other sectors of the economy such as construction, transportation and agriculture, creating a total of more than six million chemistry-dependent jobs.
“With the release of this detailed report each year, we underscore the importance of the business of chemistry to the health and stability of our nation’s economy,” said ACC President and CEO Cal Dooley. “As we move further into what we are predicting will be a slow economic expansion, it is imperative that we have sound policies in place which allow our industry to further promote economic growth, protect and create U.S. jobs, and drive innovations which provide the solutions to our nation’s biggest challenges—all while ensuring the safety and quality of our products for consumers.”
“The business of chemistry is the building block for everything around us,” said the publication’s lead author, ACC Chief Economist Kevin Swift. “From advances in the newest electronic devices, to energy-efficient building supplies and life-saving medical devices, nearly every sector of the economy and virtually everything we touch is connected to the products of chemistry. This year, we are especially excited to feature an expanded review of specialty chemicals, and a more in-depth global outlook, which saw 2012 sales increase 1.1 percent to almost $5 trillion.” Swift said.
Prepared annually by ACC’s Economics and Statistics Department, The Guide to the Business of Chemistry divides the $770 billion business into more than thirty 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 the 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 ten years.
For more information on the ways in which chemistry impacts the wider U.S. economy, and to see how the business of chemistry can help anticipate peaks and troughs in the overall U.S. economy through the Chemical Activity Barometer, go to www.americanchemistry.com/cab.
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 http://www.americanchemistry.com/store or call (301) 617-7824.