Abstract
The US chemical industry is a few months into recovery from the COVID-19 pandemic, but full recuperation won’t happen until 2023. That’s the view from the American Chemistry Council (ACC), the US chemical industry’s main trade association. US chemical sales should recover this year, the ACC says, with a projected total of $525 billion, not including pharmaceuticals, up from $486 billion in 2020 and $509 billion in 2019. But employment, capital expenditures, and production volumes won’t return to prepandemic levels until late 2022 or early 2023, ACC predicts. The trade group expects strong chemical demand through 2021 from consumer-focused industries such as auto, construction, and durable goods. That notion is supported by projections from the World Bank, which said in June that the overall US gross domestic product (GDP), a measure of economic growth, will be up by 6.8% for the year. The ACC expects specialty chemicals, notably coatings, to
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