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Chemical Industry Growth Rate Surpasses 20-Year Average

The U.S. chemical industry is riding a global wave of growth as the world’s major economies experience an upswing for the first time in a decade. Increased output and accelerating growth rates that surpass the previous twenty-year average will help cement the business of American chemistry as $1 trillion industry within the next five years, according to the American Chemistry Council (ACC). Despite disruptions from this year’s historic Hurricane Harvey, chemical production volumes continued to improve in 2017, with significant gains expected in 2018 and 2019.

U.S. chemical manufacturers remain advantaged with access to cheaper and more abundant feedstocks and energy, helping push the number of announced chemical production projects to nearly 320 with a cumulative value of over $185 billion. 

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