PUBLICATION
Global Business Reports
United States Chemicals 2016
January 20, 2016
The outlook for the chemical industry in the United States has shifted dramatically in the space of only a few years. Revenues currently stand at approximately $820 billion, and are expected to exceed $1 trillion before the end of the decade. Accounting for more than 80% of the overall chemicals market in the NAFTA region, comprising Canada and Mexico as well as the United States, the space is seeing what is being dubbed by the Boston Consulting Group as an “once-in-a-lifetime renaissance.”The driver behind this reversal of fortunes is the shale gas revolution, which has provided the United States with a low cost feedstock to rival its main competitors in China and the Middle East, as well as helping to offset the decline in production from conventional gas reservoirs.
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