According to published Government data, the chemical industry is one of the United States’ largest manufacturing industries, serving both a sizeable domestic market and an expanding global market. It is also one of the top exporting sectors of U.S. manufacturing. Accounting for over 15 percent of global chemical shipments, the United States is a world leader in chemical production and exports. The industry’s more than 10,000 firms produce more than 70,000 products. In 2015, the U.S. chemical industry had final sales exceeding $800 billion and directly employed more than 810,000 workers, with additional indirect employment by industry suppliers of more than 2.6 million. With investments of $93 billion in research and development in 2015 and a record of strong enforcement of intellectual property rights, the chemicals industry accounts for a significant portion of patents granted in the United States.
Strong product identification and quality, access to low-cost natural gas, a highly educated workforce, world class research centers, protection for intellectual property, and a robust regulatory system make the United States a competitive home for chemicals firms from across the globe.
Basic Chemicals: These include organic and inorganic chemicals, plastic resins, dyes and pigments. Plastic resins, in particular, have experienced significant growth as a replacement for traditional materials in the automotive, construction, and packaging end-use markets.
Specialty Chemicals: These include adhesives and sealants, water treatment chemicals, plastic additives, catalysts and coatings. These chemicals are performance-oriented and typically include customer/technical servicing as an aspect of their sales.
Agricultural Chemicals: These play a crucial role in the farm economy and the food processing sector. Thanks to modern agriculture, farmers have doubled the production of world food supplies since 1960, tripled the output of foods like cooking oils and meats, and increased per capita food supplies in the developing world by 25 percent.
Pharmaceuticals: These include diagnostics, prescription drugs, vaccines, vitamins, and over-the-counter drugs for human and veterinary applications. This subsector also includes biotechnology products. Strategic investment in companies, facilities, and research and development is especially important for this subsector.
Paints & Pigments: The global paint and coating industry generates about $150 billion in annual revenue, according to the World Paint & Coatings Industry Association. The US paint and coating manufacturing industry includes about 950 companies with combined annual revenue of about $28 billion. This industry manufactures various paints, timber finishes and other surface coating products to decorate and protect surfaces against wear, weather and corrosion. Key products include paints, varnishes, lacquers and stains, as well as fillers, putties, paint thinners and removers. Demand from key markets will spur revenue growth in the coming years especially an uptick in automobile production and construction activity. Small companies can compete successfully with large ones and operators focus on improving efficiency and increasing economies of scale. Major companies include Axalta Coating Systems, Benjamin Moore, PPG, RPM International, and Sherwin-Williams (all based in the US), as well as Akzo Nobel (the Netherlands), Nippon Paint (Japan), Hempel A/S (Denmark), and the coatings operations of BASF (Germany).
Consumer Products: These include soaps, detergents, and cleaners, as well as toiletries and cosmetics. While consumer products are an established segment of the industry, technological innovation and product development are important due to short product life cycles.
ICI is a solution provider of process valves, instrumentation, filtration, heating, controls and automation products that are extensively used in the Chemicals industry. We understand the chemical production processes and the need for accelerated go to market time period, meeting regulatory conditions, addressing health & safety concerns, and providing consistent quality in pharmaceuticals sectors. Our technical knowledge and market expertise, matched with our value-added service capabilities, makes us the comprehensive solution provider for the Chemical & Pharmaceutical Industry.