Chemical production volumes continued to improve in 2017, with significant gains expected in 2018 and 2019.
Increased output and accelerating growth rates that surpass the previous 20-yr average will help cement the business of American chemistry as a $1 trillion industry within the next five years, according to a recent report from the American Chemistry Council (ACC). Chemical production volumes continued to improve in 2017, with significant gains expected in 2018 and 2019.
“American chemistry is riding a synchronized global upswing,” said Kevin Swift, chief economist of ACC and lead author of the report. “Manufacturing has turned a corner, business investment is on the rise, and domestic oil and gas production is on the rebound. It all sets the stage for tremendous momentum, expansion, and capital investment.”