Logistic disruptions have deteriorated this year for U.S. chemical manufacturers, with many companies reporting lost production and surging costs. According to a follow-up survey released by the American Chemistry Council (ACC), transportation-related supply issues have escalated this year, causing severe manufacturing disruptions.
However, the need for basic and essential chemicals across various industries is growing. Also, the government is initiating several policies to ease the industry’s supply issues. This, along with the gradual transition of chemical manufacturing companies to sustainable production with the help of advanced technologies, should help the industry stay in the black. According to Market Reports World, the global chemicals market size is projected to expand at a 2.2% CAGR from 2022 to 2028.
