How do you begin your morning? Many of you probably start by checking emails on your iPhone, or turning on your TV to catch up on the morning news. Maybe you get in your vehicle and drive to work, or hop on public transportation, such as a bus or subway. It should come as no surprise that you are able to do all of these things because of the innovative technologies that are made possible through chemistry. In fact, the business of chemistry contributes to 96% of all manufactured goods, from automobiles to clothing, medical devices to smartphones, and nearly everything in between.
It doesn’t stop there. The business of chemistry is an $801 billion industry – larger than either the motor vehicle of aerospace industries – and it continues to grow. In recent years, the chemical industry has seen rapid expansion to capitalize on the competitive advantages afforded by new development of natural gas and natural gas liquids from shale development. Since 2010, more than $145 billion of new chemical industry investment has been announced. Currently, our industry provides 804,000 skilled, good-paying American jobs, but that number stands to grow as these new facilities come online, with each new job in chemical manufacturing creating more than six new jobs in other areas of the economy. The business of chemistry is a driving force behind the growth and expansion of the U.S. economy, accounting for nearly 25% of the GDP and 14% of exports, the largest exporting industry in the U.S.
But our industry isn’t just about growing the economy – it’s about ensuring businesses and consumers enjoy healthier and longer lives, with chemistry playing an essential role in the creation of ground-breaking products that make our lives and our world healthier, safer, more sustainable, and more productive. From the airbags in your car to the water you drink, chemistry is saving lives every day.
As valuable as these products are, they must also be used responsibly. That’s why the American Chemistry Council (ACC) has long championed Responsible Care®, an initiative built around the safe, responsible, sustainable management of chemicals through their life cycles and for their intended uses. ACC member companies must adhere to the Responsible Care Product and Process Safety Codes, their commitments to driving continuous improvement in chemical product safety, and helping to ensure the safety of industry facilities and the many people they employ.
While we are already evaluating, demonstrating, and continuously improving our product safety and process safety performances, we continue to advocate for a balanced and comprehensive approach to updating our nation’s chemical regulatory framework that encourages expansion, innovation, and economic growth through a predictable regulatory environment.
You can learn more about the business of chemistry and its contributions to the U.S. and world economies in ACC’s 2015 Guide to the Business of Chemistry, our most comprehensive resource profiling the economics of this growth engine industry.
>>Get your copy of the 2015 Guide to the Business of Chemistry