The American Chemistry Council (ACC) recently launched the Economic Elements of Chemistry (EEC). The free online tool provides a comprehensive look at how the chemical industry supports the United States and global economies.
The EEC replaces the “Guide to the Business of Chemistry,” which was printed annually. The new digital format includes real-time graphs and charts that users can interact with to display data and statistics, such as capital spending, job creation, trade balances and innovation metrics. It also covers a range of sectors dependent on chemistry, from agriculture and health care to energy and manufacturing.
According to the ACC, the EEC underscores how the U.S. chemical industry remains a powerhouse of innovation and economic growth. For example, U.S. chemical exports totaled $164 billion, making up 10% of the nation’s goods exports, while the overall business of chemistry contributed $639 billion annually to the U.S. economy, supporting over half a million jobs in 2023.
What People Are Saying
Chris Jahn, president & CEO of ACC: “Every year, the business of chemistry shines brightly as a key driver of both U.S. and global economies. Our members are tackling global challenges, including working to reduce emissions, protect our air and water and enhance safety standards. The Economic Elements of Chemistry provides insight into how our industry powers progress and creates opportunities for a cleaner, healthier and more productive future.”
Martha Moore, chief economist and managing director, ACC: “The EEC is a valuable resource for understanding the chemical industry’s role in driving the economy, and this year’s interactive format offers a more engaging way to explore the data. Our industry’s contributions span from everyday products to large-scale innovations. As global demand continues to rise, we’re poised to expand our impact, meeting challenges through groundbreaking developments.”
Martha Moore also writes for Chemical Processing, providing an annual state-of-the-industry report at the beginning of each year and a popular mid-year economic outlook webinar.
