Introduction... vii ACC Economics and Statistics Department Staff... vii 1. CHEMISTRY AND THE ECONOMY...1

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1 TABLE OF CONTENTS Introduction... vii ACC Economics and Statistics Department Staff... vii 1. CHEMISTRY AND THE ECONOMY...1 Chemistry in Our Lives...2 Economic Contributions of the Business of Chemistry WHAT IS THE BUSINESS OF CHEMISTRY?...9 Cost Structure Production Indices Price Indices Shipment Value CHEMISTRY Basic Chemicals Inorganic Chemicals Bulk Petrochemicals and Organic Intermediates Petrochemical Derivatives and Other Industrial Chemicals Specialty Chemicals Adhesives and Sealants Catalysts Coatings Cosmetic Additives Electronic Chemicals Fine Chemicals Flavors and Fragrances Food Additives Functional Fuel and Lubricant Additives Institutional and Industrial Cleaners Oilfield Chemicals Paper Additives Plastics Additives Plastics Compounding Rubber Processing Chemicals Water Management Chemicals Other Specialties Agricultural Chemicals Fertilizers Crop Protection Pharmaceuticals Consumer Products FINANCIAL PERFORMANCE GLOBAL BUSINESS OF CHEMISTRY Global CPRI i

2 6. U.S. TRADE IN THE BUSINESS OF CHEMISTRY ii Exports Imports Trade Balance INVESTMENT IN THE FUTURE: KNOWLEDGE Research and Development Activities Innovation and Learning Service Innovation INVESTMENT IN THE FUTURE: CAPITAL Capital Investment Profits and Other Determinants of Investment Capacity Utilization Motivation for Capital Investment Foreign Direct Investment Maintenance and Repair Spending Information Technology EMPLOYMENT Total Employment Impact of the Business of Chemistry Knowledge Workers Wages, Benefits and Other Labor Indicators ENVIRONMENT, HEALTH, SAFETY AND SECURITY Environment Health Safety Sustainability Environmental Performance Environmental, Health and Safety Spending Worker Health and Safety Spending on Security ACC s Commitment to EHS&S ENERGY Fuel and Power Feedstocks Natural Gas & Petroleum Products Energy Consumption Energy Costs Chemical Industry Energy Efficiency Energy Efficiency from the Products of Chemistry Greenhouse Gas Emissions DISTRIBUTION Transportation by Mode Truck Rail Waterborne Other Modes... 91

3 Transportation and Logistics Costs Wholesale Trade in Chemicals THE BUSINESS OF CHEMISTRY IN THE STATES AND REGIONS Employment Impact of the Business of Chemistry U.S. Chemical Production Regional Index Appendix A: Chemical Chains A.1 - Chlor-Alkali A.2 - Methanol A.3 - Ammonia A.4 - Ethylene A.5 - Propyylene A.6 - C4 Hydrocrarbons A.7 - Benzene A.8 - Toluene A.9 - Xylene iii

4 LIST OF TABLES Table U.S. Business of Chemistry Industry Snapshot, Table Industries Dependent upon the U.S. Business of Chemistry, Table Business of Chemistry Summary, Table Characteristics of the Business of Chemistry Table Business of Chemistry Industrial Production Indices (2012=100) Table Business of Chemistry Producer Price Indices (2012=100) Table Business of Chemistry Shipments by Segment ($billion), Table Basic Chemicals Shipments ($million) Table 3.2- Chemicals and Plastic Resins Production (thousands of metric tons) Table Plastic Resins Summary, Table Specialty Chemical Market Volume Indices (2012=100) Table Specialty Chemicals Shipments ($million) Table Measures of Profitability, Cash Flow and Other Measures Table Solvency, Liquidity, Debt Management & Asset Management Measures Table Global Chemical Shipments by Country/Region ($billion) Table Global Chemical Exports by Country/Region ($billion) Table Global Chemical Imports by Country/Region ($billion) Table Global Chemical Trade Balance by Country/Region ($billion) Table Global Chemical Apparent Consumption/Domestic Sales by Country/Region ($billion) Table Global Chemical Shipments by Segment ($billion) Table Chemical Output by Segment (indices where 2012=100) Table Chemical Output by Nation/Region (Global CPRI) (indices where 2012=100) Table Exports by Segment ($million) Table Chemical Exports by Country/Region ($million) Table 6.3 Exports by Trade Group ($million) Table Imports by Segment ($million) Table Chemical Imports by Country/Region ($million) Table 6.3 Imports by Trade Group ($million) Table Trade Balance by Segment ($million) Table Trade Balance by Country/Region ($million) Table 6.6 Trade Balance by Trade Group ($million) Table Basic and Specialty Chemical Companies R&D Spending by Type (as % of total) Table R&D Spending in the Business of Chemistry Table Capital Investment by Segment ($million) iv

5 LIST OF FIGURES Figure U.S. Business of Chemistry Flow Chart, 2017 ($billion)...4 Figure Typical Cost Structure in the Business of Chemistry by Segment Figure Business of Chemistry Chemical Chain Figure Global Chemical Shipments by Segment (as a % of total shipments), Figure Global Chemical Production Regional Index (Global CPRI) Figure U.S. Trade in the Business of Chemistry ($billion), Figure Share of Exports by Sector, Figure Share of Imports by Sector, Figure Chemicals Trade Balance by Segment ($billion) Figure Percent of Basic and Specialty Chemical Revenues from New Products Figure Chemical Industry After-Tax Profits ($million) Figure EH&S Spending by Basic and Specialty Chemical Producers Figure EH&S Spending by Type of Spending Figure Environmental Progress and Economic and Population Growth in the U.S Figure Environmental Progress and Production in the Business of Chemistry Figure TRI Releases by Media: Business of Chemistry (millions of pounds) Figure Trends in Occupational Injury and Illness Incidence Rates Figure Security Spending by ACC Member Companies ($million) Figure Derivation of Petrochemical Feedstocks Figure U.S. Based Petrochemical Competitiveness: Ratio of the Price of Oil to Natural Gas Figure Composition of Energy Requirements (trillion BTUs), Figure Share of Total Energy Consumption by Source Figure Share of Total Energy Consumption by Segment Figure Value of Energy Consumed by the Business of Chemistry ($billion) Figure Business of Chemistry: Fuel and Power Energy Consumed (1974=100) Figure Business of Chemistry: Transportation by Mode, Figure Share of Business of Chemistry Shipments by State, Figure Number of Business of Chemistry Establishments by State v