Chemical products are essential to the production of countless manufactured goods

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Chemical products are essential for the production of countless finished products. More than 96% of the finished products are in direct contact with the chemical industry. Industry has greatly affected our safe water supply, food, shelter, clothing, health care, computer technology, transportation, and almost all other aspects of modern life.

Economics

The United States is the world’s largest producer of chemicals, accounting for nearly one fifth of the world’s total production. With the shipment of chemical products reaching nearly 720 billion US dollars in 2010, the chemical industry has provided more than 226 billion US dollars for US GDP, accounting for about 2% of the total GDP. In 2010, the industry’s chemical exports reached a record 171 billion US dollars, accounting for 10% of all US exports. It is the second largest manufacturing industry in the United States in terms of added value.

geographical position

Most of the production of basic chemicals is concentrated along the Gulf Coast, where refineries have access to oil and gas feedstocks. The main petrochemical products are mainly produced in Texas and Louisiana. Other products, such as plastics, pharmaceuticals and fertilizers, are produced more widely in the States.

energy

In 2006, the final use energy consumption (excluding the loss of power generation, transmission and distribution) of the U.S. chemical industry totaled nearly 520 billion BTU, accounting for about 24% of the total energy consumption of the U.S. manufacturing industry. According to the U.S. chemical Commission, energy consumption in the industry has fallen by more than half since 1974.5

market

The chemical industry is the cornerstone of the American economy, transforming raw materials (oil, gas, air, water, metals, minerals) into more than 70000 different products. Chemicals are used to make a variety of consumer goods, as well as thousands of products, which are essential inputs for agriculture, manufacturing, computer, telecommunications, construction and service industries.

research and development

The chemical industry spent about $55 billion on R & D in 2010. Most of the chemical R & D funds are spent on product development. Basic and specialty chemical companies usually spend 1% to 3% of their annual sales on R & D

obtain employment

Chemical companies in the United States directly employ 784000 people and indirectly provide 4.4 million jobs for chemical dependent industries. In 2010, the average salary of employees in the chemical industry was $81900.1

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