Plastics Industry News
繁體 | 简体
Technology
Applications
MAAG PUMP SYSTEMS AG
Main > Daily Market News > Article Content
| Print | Submit Article |
Last Page | More | Next Page
Size of the chemical industry, by region, 2017.
Size of the chemical industry, by region, 2017.
Photo: 12

The chemical industry touches nearly every good-producing sector, making an estimated US$5.7 trillion contribution to world GDP through direct, indirect and induced impacts, equivalent to 7% of the world’s GDP, and supporting 120 million jobs worldwide, according to a recent report “The Global Chemical Industry: Catalyzing Growth and Addressing Our World’s Sustainability Challenges” by Oxford Economics.

Oxford Economics was commissioned by the International Council of Chemical Associations (ICCA) to provide a detailed assessment of the chemical industry’s contributions to the global economy. The report was released in conjunction with the beginning of the Fourth United Nations Environment Assembly (UNEA-4).

Key findings of the report include:

  • Directly, the chemical industry added US$1.1 trillion to world GDP and employed 15 million people, making it the fifth-largest global manufacturing sector.
  • For every US$1 generated by the chemical industry, a further US$4.20 is generated elsewhere in the global economy.
  • Companies in the chemical industry spent an estimated US$3 trillion with their suppliers in 2017, buying goods and services used in the manufacture of their products. This supply chain spending contributed an estimated US$2.6 trillion to global GDP, and supported 60 million jobs.
  • The global chemical industry invested an estimated US$51 billion in R&D, supporting 1.7 million jobs and US$92 billion in economic activity.
  • The largest contributor to GDP and jobs is the Asia-Pacific chemical industry, generating 45% of the industry’s total annual economic value, and 69% of all jobs supported. Europe made the next most important contribution (US$1.3 trillion total GDP contribution, 19 million jobs supported) followed by North America (US$866 billion total GDP contribution, 6 million jobs supported).

“This report makes clear that the chemical industry is an irreplaceable contributor to global GDP, a source of skilled employment opportunities and a major enabler of progress in the environmental, social and economic aspects of sustainable development as reflected in the United Nation’s Sustainable Development Goals,” said Cal Dooley, ICCA Council Secretary and President and CEO of the American Chemistry Council (ACC).

We are collecting readers' comment for improving our website. If you are willing to help, please CLICK HERE to complete a survey. Your comments matter.
Write a mail to the editor
Copyright © Adsale Publishing Limited. Any party needs to reprint any part of the content should get the written approval from Adsale Publishing Ltd and quote the source "China Plastic & Rubber Journal (CPRJ)", Adsale Plastics Website - www.AdsaleCPRJ.com. We reserve the right to take legal action against any party who reprints any part of this article without acknowledgement. For enquiry, please contact Editorial Department.  [Want to use this report?]
Name
Company Name
Job title
Email (will not be published)
Comment
Recent Comment
Legal Statement | Privacy Policy
Remarks: Publication of the comments is at editor's discretion.
Register a New Member
海天塑机集团有限公司
日钢注塑机維修(深圳)有限公司
3C conf
广东伊之密精密机械股份有限公司
阿科玛(中国)投资有限公司上海分公司
COPERION GMBH
艾尔发集团
富强鑫精密工业股份有限公司
东莞市思为客自动化科技股份有限公司
Pack conf
裕克施乐塑料制品(太仓)有限公司
信易电热机械股份有限公司
莱斯特瑞兹机械(太仓)有限公司
东华机械有限公司
上海ABB工程有限公司
DAVIS-STANDARD, LLC
泰瑞机器股份有限公司
HOSOKAWA ALPINE AG ABT. FVF

Supplier Highlights
WITTE PUMPS & TECHNOLOGY GMBH