Economic Elements of Chemistry

Welcome to the Economic Elements of Chemistry (EEC)! We are very excited to share this online resource to help you learn more about how the chemical sector supports every corner of the economy.

The EEC replaces the Guide to the Business of Chemistry, which was printed annually. This new digital format was created to provide easier access to valuable and up-to-date insights into the vital contributions of the U.S. chemical industry.

Introduction by Chris Jahn

Every year, the business of chemistry continues to shine brightly as a key driver of both the U.S. and global economies. Chemistry powers every corner of the economy by creating high-paying jobs, infusing new investments into research and development and manufacturing, fueling trade and providing chemicals vital to everyday life. This success isn’t by chance; it’s the result of the dedication and innovation of American Chemistry Council members and their employees. Our members are tackling global challenges head-on by developing solutions to help reduce emissions, protect our air and water, and enhance safety standards.

$633

Billion generated annually by the business of chemistry

The business of chemistry is a cornerstone of the U.S. economy. Our industry generates $633 billion annually, over half a million jobs, and an average annual salary nearing $100,000.

As you explore the 2024 Economic Elements of Chemistry, you’ll see how chemistry supports American growth and economic leadership and creates opportunities for a better future.

— Chris Jahn, President and CEO, American Chemistry Council

Introduction by Martha Moore

The Economic Elements of Chemistry offers a valuable insight into how the chemical industry is woven into every aspect of our economy and daily lives. The chemical industry is critical to nearly every sector, from agriculture and electronics to medicine, energy, and construction.

25%

Of the U.S GDP is supported by the business of chemistry

In 2023, the U.S. chemical industry was one of the nation’s largest exporters, contributing $164 billion to the global market and making up 10% of all U.S. goods exports. As global demand for chemicals continues to rise, so will our industry's impact.

With over $13 billion invested in research and development in 2023, the chemical sector has led the way in technological innovation. It’s driving advancements that will shape a healthier and more productive economy. This guide catalogs chemistry's many contributions to a robust economy and a higher quality of life for all.

— Martha Moore, Chief Economist & Managing Director, Economics & Data Analytics, American Chemistry Council

Disclaimer

ACC has made reasonable effort to ensure the information contained in the EEC is complete and accurate. This information will be updated several times through the course of the year.

ACC expressly disclaims any warranty or guaranty, whether express or implied, associated with this reference book or any of the data contained herein. This webpage and the information contained herein are owned and protected by the ACC. You may not reproduce, upload, post, transmit, download, distribute, resell or otherwise transfer information from the EEC without the express written consent of ACC.

Data published in this book are based on various sources as well as ACC estimates. ACC disclaims any liability associated with the accuracy or completeness of the information presented, or its suitability for any particular use. Users of the EEC are solely responsible for any consequences, including any liability that arises from such use.