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ACC Unveils Economic Elements of Chemistry

New digital tool provides insight into chemical industry’s vital role

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Scott Jensen
CONTACT US

WASHINGTON (October 30, 2024) – The American Chemistry Council (ACC) today launched the Economic Elements of Chemistry (EEC), which provides a comprehensive look at the chemical industry’s vital contributions to the U.S. and global economies.  

This new online tool replaces the print version of the Guide to the Business of Chemistry. It utilizes an interactive format featuring dynamic graphs and charts that users can engage with to display useful data and statistics. Thanks to the new digital format readers can explore data insights and trends in a more immersive way, delivering an enhanced understanding of the industry's beneficial impact.  

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. 

Chris Jahn , President & CEO | American Chemistry Council
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.

“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,” said Martha Moore, Chief Economist and Managing Director for Economics and Data Analytics at the ACC. “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.” 

The new interactive format allows users to explore key data points such as capital spending, job creation, trade balances, and innovation metrics through real-time graphs and visualizations. It also covers a wide range of sectors that are dependent on chemistry from agriculture and health care to energy and manufacturing. The digital format makes it much easier to navigate complex data and gain the most up-to-date insights into how chemistry supports many industries and the broader economy.

American Chemistry Council

The American Chemistry Council’s mission is to advocate for the people, policy, and products of chemistry that make the United States the global leader in innovation and manufacturing. To achieve this, we: Champion science-based policy solutions across all levels of government; Drive continuous performance improvement to protect employees and communities through Responsible Care®; Foster the development of sustainability practices throughout ACC member companies; and Communicate authentically with communities about challenges and solutions for a safer, healthier and more sustainable way of life. Our vision is a world made better by chemistry, where people live happier, healthier, and more prosperous lives, safely and sustainably—for generations to come.