It has been estimated that 95% of all manufactured products in the UK are dependent on the chemicals industry. The industry directly accounts for 16% of UK manufacturing sales, and the downstream contribution across industries from aerospace to water totals £222bn and sustains 5.2 million jobs.
All chemicals end up being used in products and services purchased by the consumer, There may be many stages between the processing of a chemical and the final consumer, but it is estimated that each UK household either directly or indirectly spends around £35 a week on chemicals.
EU and US chemical sectors contracted in 2012 with the EU seeing less than 1% growth in 2013, leaving it at 7% behind pre-recession levels. Chemicals is however, the UK’s manufacturing number one exporter, with an export value of £30bn, and improved margins for businesses.
Growth has been highest for pharmaceuticals continuing upwards since 2006, with export value topping £23bn. This year, 83% of UK chemical companies recently said they expected to maintain or increase capital investment in 2013.
For mor information visit the Chemicals Industry Association (CIA) website.
