20/11/2023
Thursday night's Chemical Industries Association dinner rightly celebrated an industry that is one of the largest in the UK and a top manufacturing exporter. I am proud to have a been working in this industry for over 30 years (time does fly!).
In the UK alone, the industry adds almost £25 billion of value to the economy, on estimated sales of around £66.7 billion. But importantly it's a trade intensive industry with the wider chemical industry exporting over £53 billion annually, over half of which heads to the EU27 while almost 20% heads to the US. The GVA per employee is £123,000, 82% greater than the manufacturing average and 92% higher than the working economy. The industry directly employs over 150,000 highly skilled people who on average earn 35% more than other manufacturing industries and 54% more than the average worker in the economy, creating jobs in regions where they are most needed.
The industry is the "builder" of a net zero economy with its solutions used in homes, at work and throughout everyday life, saving at least 2 tonnes of greenhouse gases for every 1 tonne the industry emits.
But there is much more to do - new products, new technologies, biorenewable feedstocks, biosynthesis and valorisation of wastes will play a central role in successfully decarbonising the UK economy. Looking at the established businesses and the start ups I interact with, I truly believe we have the skills and technologies in the UK to do this. Let's support them!
(data courtesy of the CIA and correct as at March 22)
