-- Chemical Industry Plays Crucial Role in Regional Economies in Every Corner 
of the World 

In conjunction with the beginning of the Fourth United Nations Environment 
Assembly (UNEA-4) ( 
https://c212.net/c/link/?t=0&l=en&o=2398282-1&h=4225398862&u=https%3A%2F%2Fwww.icca-chem.org%2Funea4%2F&a=Fourth+United+Nations+Environment+Assembly+(UNEA-4) 
), today the International Council of Chemical Associations (ICCA) released an 
analysis of the chemical industry's contributions to the global economy: The 
Global Chemical Industry: Catalyzing Growth and Addressing Our World's 
Sustainability Challenges ( 
https://c212.net/c/link/?t=0&l=en&o=2398282-1&h=3663061614&u=https%3A%2F%2Fwww.icca-chem.org%2Feconomicanalysis%2F&a=The+Global+Chemical+Industry%3A+Catalyzing+Growth+and+Addressing+Our+World%27s+Sustainability+Challenges 
). According to the report, the chemical industry touches nearly every 
good-producing sector, making an estimated $5.7 trillion contribution to world 
Gross Domestic Product (GDP) through direct, indirect and induced impacts, 
equivalent to seven percent of the world's GDP, and supporting 120 million jobs 
worldwide. 

"The innovations developed and produced by the chemical industry's longstanding 
presence worldwide have helped turn the tide of human history. Over time, 
chemical manufacturers have become an integral part of the global economy and a 
critical enabler of technologies that improve people's lives around the globe," 
said Cal Dooley, ICCA Council Secretary and President and CEO of the American 
Chemistry Council (ACC) ( 
https://c212.net/c/link/?t=0&l=en&o=2398282-1&h=3283199441&u=https%3A%2F%2Fwww.americanchemistry.com%2Fdooley%2F&a=Cal+Dooley%2C+ICCA+Council+Secretary+and+President+and+CEO+of+the+American+Chemistry+Council+(ACC) 
). "This report makes clear that the chemical industry is an irreplaceable 
contributor to global GDP, a source of skilled employment opportunities and a 
major enabler of progress in the environmental, social and economic aspects of 
sustainable development as reflected in the United Nation's Sustainable 
Development Goals."   

Key findings of the report include:

    - Directly, the chemical industry added $1.1 trillion to world GDP and 
      employed 15 million people, making it the fifth-largest global 
      manufacturing sector. 
    - For every $1 USD generated by the chemical industry, a further $4.20 USD 
      is generated elsewhere in the global economy. 
    - Companies in the chemical industry spent an estimated $3 trillion USD 
      with their suppliers in 2017, buying goods and services used in the 
      manufacture of their products. This supply chain spending contributed an 
      estimated $2.6 trillion USD to global GDP, and supported 60 million
      jobs. 
    - The global chemical industry invested an estimated $51 billion USD in 
      Research and Development (R&D), supporting 1.7 million jobs and $92 
      billion USD in economic activity. 
    - The largest contributor to GDP and jobs is the Asia-Pacific chemical 
      industry, generating 45 percent of the industry's total annual economic 
      value, and 69 percent of all jobs supported. Europe made the next most 
      important contribution ($1.3 trillion USD total GDP contribution, 19 
      million jobs supported) followed by North America ($866 billion USD  
      total GDP contribution, 6 million jobs supported).

"This new analysis underscores the essential role that the chemical industry 
plays in driving economic growth and creating opportunity for millions of 
people around the world, but the chemical industry's impact goes beyond 
economic value," said Marco Mensink, Director General, European Chemical 
Industry (CEFIC) ( 
https://c212.net/c/link/?t=0&l=en&o=2398282-1&h=4181341835&u=https%3A%2F%2Fcefic.org%2Fabout-us%2Forganization%2Fleadership-team%2Fmarco-mensink%2F&a=Marco+Mensink%2C+Director+General%2C+European+Chemical+Industry+(CEFIC) 
). "Working in partnership with United Nations Environment through the 
Strategic Approach to Chemicals Management (SAICM), we are deeply committed to 
building capacity to safely manage chemicals through their production, 
transport, use and disposal, and have held over 230 workshops in 45 
countries."       

ICCA commissioned Oxford Economics to provide a detailed assessment of the 
chemical industry's contributions to the global economy. The report aims to 
examine the full extent of the chemical industry's economic footprint – whereby 
production of chemical products supports activity not just in the industry 
itself (direct impact), but in a wide range of other sectors throughout the 
supply chain (indirect impact supported through procurement of intermediate 
goods) and wage-financed effects (payroll-induced impact sustained via 
consumption spending of workers employed by the industry and its suppliers).

"The products that the chemical industry manufactures  change people's lives by 
providing clean water and making possible renewable energy sources, advanced 
medical care, stable and nutritious food supplies, recycling technologies and 
more," said Hiroshi Watanabe, Director General, Japan Chemical Industry 
Association (JCIA) ( 
https://c212.net/c/link/?t=0&l=en&o=2398282-1&h=3676802103&u=https%3A%2F%2Fwww.nikkakyo.org%2F&a=Hiroshi+Watanabe%2C+Director+General%2C+Japan+Chemical+Industry+Association+(JCIA) 
). "By capturing the economic value of our operations, research and products, 
we now see the full extent of our industry's positive impact on society today 
and the important role we are playing in creating a pathway to a more 
sustainable future."

To learn more and to download a free copy of this report, visit: 
www.icca-chem.org/EconomicAnalysis. To learn more about ICCA's contributions to 
the United Nations 17 Sustainable Development Goals (SDGs) visit: 
www.icca-chem.org/SDGs. 

About ICCA  
The International Council of Chemical Associations (ICCA) is an association of 
innovators, visionaries, solutions providers and product stewardship pioneers. 
Through ongoing innovation in chemistry and the constant improvement of safe 
chemicals management, the global chemical industry makes a significant 
contribution to a sustainable society: improving human health, protecting the 
environment, and delivering prosperity worldwide. Learn more about ICCA at: 
www.icca-chem.org.

SOURCE: International Council of Chemical Associations

CONTACT: Sarah Jane Scruggs | sarah_scruggs@americanchemistry.com