Though the US chemical industry rebounded in 2010 after two years of declines, it still lags in growth, said American Chemistry Council (ACC) economists. Overall US chemical production volumes are estimated to increase by 3.1% in 2010 and 3.0% in 2011, compared with declines of 4.7% and 4.5% in 2008 and 2009, respectively. Excluding pharmaceuticals, volumes are estimated to increase by 5.2% in 2010 and 2.7% in 2011, compared with declines of 10.0% and 8.0% in 2008 and 2009, respectively. Global chemical output is expected to grow by 8.8% in 2010 and 5.4% in 2011. US chemical exports grew 16.8% this year, which means the $100 million US trade deficit in chemicals in 2009 will translate to a $3.7 billion trade surplus in 2010. The ACC estimates this will almost double to $7.2 billion in 2011. However, the US chemical industry unemployment rate continues to rise, with employment expected to decline 2.9% this year.

Source: Chemical and Engineering News