Chemical Sales On The Upswing

Abstract

As the global economy improves, U.S. chemical makers are poised to benefit from a combination of low-cost shale-derived raw materials, gains in sales to carmakers and home builders, and rising exports of basic and specialty chemicals. That’s the forecast for 2014 and beyond from the American Chemistry Council, the U.S. industry’s main trade association. “U.S. chemical makers will be capturing market share from the rest of the world—something they haven’t been able to do since the 1950s and 1960s,” says T. Kevin Swift, ACC’s chief economist. U.S. chemical makers will increase sales to global customers, he adds, particularly in Europe, where energy costs are much higher than in the U.S. ACC expects the U.S. economy to grow just 2.5% in 2014, weighed down by high taxes, debt, regulatory burdens, and political uncertainty. But the job market is expanding, consumer income is rising, and car sales are increasing, “taking chemical sales ...