Chemical Engineering September 2022 - 4

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A chemical industry profile
ast month, the American Chemistry Council (ACC; www.acc.
org) released its 2022 edition of the " Guide to the Business
of Chemistry [1], " which profiles the U.S. chemical industry,
including markets, developments, contributions to both domestic
and global economies and more. The report reminds us how
ubiquitous the products of the chemical process industries are in our
everyday lives.
L
Everyday chemistry
Products manufactured by the chemical process industries are
used in most of the items that surround us in our modern world.
The importance of some of these products was highlighted by the
coronavirus pandemic, when hand sanitizers, disinfectants and
personal protective equipment were in very high demand. But contributions
of chemistry to healthcare are much broader and found
in home and hospital medical supplies, such as in tubing, sutures,
bandages, IV (intravenous) bags, instruments and equipment, as
well as in pharmaceuticals.
Chemistry also plays an important role in our everyday electronic
devices in components such as touchscreens and batteries. Plastics
allow for versatile and lightweight products for everything from
smart phones to our automobiles. In fact the increased demand for
electric vehicles has been driving the demand for high-performance
polymers [2].
In the energy sector, increased implementation of renewable energy
sources requires solar panels that rely on silicon-based chemistry.
Battery developments are ongoing. And efforts to improve energy
efficiency make use of chemistry, for example in new lighting sources
and home insulation products.
Chemical products are also used in just about every facet of building
and construction, including cement, roofing and siding, as well as
interior elements like flooring and countertops.
Developments in chemistry contribute to sustainability goals in
decarbonization, recycling efforts, water conservation and other environmental
challenges. See, for example, winners of the " Green "
Chemistry Challenge [3].
Economics
With the wide variety of products from the chemical industry, the ACC
reports that it is one of America's largest manufacturing industries -
" a $517 billion enterprise providing 537,000 skilled, high-paying jobs. "
It is also one of the world's largest exporters, responsible for 10%
of all U.S. goods exported in 2021 at $151 billion. The industry also
spent over $30 billion in capital investments last year.
Chemical companies typically invest about 2-3% of their annual
sales in research and development (R&D), and some companies
invest at a significantly higher rate. In 2021, R&D investments were
$11.4 billion.
Many more details about the categories of production,
markets and economics can be found in
the ACC report [1].
■
Dorothy Lozowski, Editorial Director
1. The 2022 Guide to the Business of Chemistry is prepared by the ACC's
Economics and Statistics Department and can be found on its website (www.
acc.org).
2. Electric Vehicles Drive Performance Polymers, Chem. Eng., pp. 14-16, August
2021.
3. The 'Green' Chemistry Challenge, Chem. Eng., p. 4, July 2022.
CHEMICAL ENGINEERING WWW.CHEMENGONLINE.COM
SEPTEMBER 2022
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Chemical Engineering September 2022

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