The chemical industry experienced a drop in volumes due to the global pandemic affecting production. However, the industry has rebounded since then. As per Statista, the U.S. chemical industry’s production volume is expected to increase by 4.3% in 2022.
In addition, the U.S. chemical industry, with a balance of trade surplus in excess of $20 billion, is a major player contributing 21% of the GDP to the U.S. economy. The industry continues to witness strong demand from both specialty and commodity sectors, thus keeping the prices steady and profitable during the year.
