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According to foreign media news, the American Chemistry Council (ACC) said on Tuesday that the United States has invested more than $200 billion
in the chemical and plastics industries related to the supply of domestic shale natural gas and natural gas liquids (NGLs) raw materials.
The ACC said the U.
S.
has announced the construction of 333 chemical projects since 2010 with a total investment of $202.
4 billion.
Of these projects, 53 percent have been completed or are being implemented, while 41 percent are still in the planning stage
, ACC said.
ACC CEO Carl.
"This is an exciting milestone for the U.
S.
chemical industry and further demonstrates that shale gas is a strong driver
of manufacturing in the United States," Dooley said.
The U.
S.
remains the world's most attractive place for investment in chemical manufacturing
.
”
ACC analysis shows that the $202.
4 billion investment could generate $292 billion in new chemical and plastics industry output annually
.
ACC noted that the competitiveness of the U.
S.
chemical industry is closely tied to
its abundant supply of NGLs.
The cracker in the United States mainly uses natural gas-based ethane and other NGLs as raw materials, while the raw material of crackers in most parts of the world is petroleum-based naphtha
.
ACC said it should be cautious about the investment figures, as U.
S.
manufacturers typically rely on foreign imports
.
"Trade protection policies such as tariffs and quotas will increase input costs, inhibit innovation and economic growth, and ultimately lead to a weakening
of U.
S.
competitive advantage," the ACC said.
”
According to foreign media news, the American Chemistry Council (ACC) said on Tuesday that the United States has invested more than $200 billion
in the chemical and plastics industries related to the supply of domestic shale natural gas and natural gas liquids (NGLs) raw materials.
The ACC said the U.
S.
has announced the construction of 333 chemical projects since 2010 with a total investment of $202.
4 billion.
Of these projects, 53 percent have been completed or are being implemented, while 41 percent are still in the planning stage
, ACC said.
ACC CEO Carl.
"This is an exciting milestone for the U.
S.
chemical industry and further demonstrates that shale gas is a strong driver
of manufacturing in the United States," Dooley said.
The U.
S.
remains the world's most attractive place for investment in chemical manufacturing
.
”
ACC analysis shows that the $202.
4 billion investment could generate $292 billion in new chemical and plastics industry output annually
.
ACC noted that the competitiveness of the U.
S.
chemical industry is closely tied to
its abundant supply of NGLs.
The cracker in the United States mainly uses natural gas-based ethane and other NGLs as raw materials, while the raw material of crackers in most parts of the world is petroleum-based naphtha
.
ACC said it should be cautious about the investment figures, as U.
S.
manufacturers typically rely on foreign imports
.
"Trade protection policies such as tariffs and quotas will increase input costs, inhibit innovation and economic growth, and ultimately lead to a weakening
of U.
S.
competitive advantage," the ACC said.
”
