The chemical industry heads into 2014 on solid footing

January 15, 2014

After spending three years struggling to recover from the 2007-2009 recession, the global chemistry industry can finally look forward to a rosier year ahead. The cover story of Chemical & Engineering News, ACS' weekly newsmagazine, details what to watch for in 2014 across different sectors and geographic regions.

The article points out that several factors are buoying expectations for the coming year around the world. In the U.S., low-priced natural gas from shale deposits is spurring a plant building boom, the first of its kind in decades. The chemical industry is also benefitting from strong auto sales and an uptick in housing starts, which drives demand for basic materials. Executives in the fine chemicals sector are also optimistic.

Although by no means stellar—or necessarily set in stone—projections are on the whole positive. Chemical production in the U.S. is expected to rise by 2.5 percent, a respectable increase over the 1.6 percent rate posted in 2013. In Europe, despite stiff competition, industry watchers expect chemical sales to increase. Projections show China and India will continue to drive economic growth, and with it, the chemical .

Explore further: Outlook for an industry that touches 96 percent of all manufactured goods

More information: "World Chemical Outlook"

Related Stories

2013 economic outlook for global chemical industry

January 16, 2013

The 2013 outlook for the global chemical industry—a $3 trillion enterprise that impacts virtually every other sector of the economy—is the topic of the cover story in this week's edition of Chemical & Engineering News. ...

Chemical company giants stall with global economy

July 31, 2013

The world's 50 largest chemical companies—with combined 2012 sales of almost $1 trillion and products that touch the lives of people everywhere—are the topic of the cover story in the current edition of Chemical & Engineering ...

Major chemical companies turn to new specialties for growth

November 13, 2013

Triggered by the recession that began in 2008, major chemical companies are aggressively re-inventing themselves through multi-billion dollar overhauls, reports Chemical & Engineering News, the weekly newsmagazine of the ...

Recommended for you

The universe's most miraculous molecule

October 9, 2015

It's the second most abundant substance in the universe. It dissolves more materials than any other solvent. It stores incredible amounts of energy. Life as we know it would not be possible without it. And although it covers ...

New method facilitates research on fuel cell catalysts

October 8, 2015

While the cleaning of car exhausts is among the best known applications of catalytic processes, it is only the tip of the iceberg. Practically the entire chemical industry relies on catalytic reactions. Therefore, catalyst ...


Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.