ACC's Swift: Shale gas boosting U.S. share of new global chemical capacity

11/18/2013 | Manufacturing & Technology News

The abundance of low-cost natural gas in the U.S. has led to 134 new plants and expansions in the chemical, plastics, tire, steel, and energy industries since June, according to the latest tally by Kevin Swift, American Chemistry Council managing director and economist. The increase in new plants for these industries is expected to "accelerate next year and the year after that and the year after that," increasing the U.S. contribution to new global capacity to about half in the next decade. Already, for leading chemicals such as ethylene and styrene, "at least one-third of the new global capacity being installed is occurring in the United States and that is up from zero or a negative number a decade ago," Swift said.

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