Economic Benefits of Epoxy Resins in North America
Executive Summary
The epoxy resin industry makes significant and extensive contributions to the North American economy. In 2018, the U.S. epoxy resin industry generated a total of $3.0 billion in output, supported more than 6,850 jobs, and more than $405 million in annual salaries and wages. Although these supply and upstream economics benefits are largely limited to the United States, downstream customer benefits accrue to all of North America.
The epoxy resin industry's contributions to the North American economy are significant and extensive.
Although North America represents a large, integrated market for epoxy resins, the polymer is only produced in the United States. The U.S. epoxy resin industry has $954 million in shipments and employs nearly 700 workers in six states, with an annual payroll of $71 million.
Moreover, the economic contributions of epoxy resins extend downstream to customers. Epoxy resins are essential inputs in coatings, composites, adhesives and sealants, and other products used in energy, food and water, transportation, home and leisure, and construction, supporting $3.2 trillion in downstream economic output and 16.4 million workers in downstream North American customer industries.
The contributions of the epoxy resin industry go well beyond its direct economic footprint. For every job in the epoxy resin industry, an additional 10.0 jobs are generated elsewhere in the U.S. economy, a total of $3.0 billion in output and more than 6,850 jobs with a payroll of $406 million.