Understanding the Chemical Economy
Understanding the Chemical Economy
The global chemical industry makes up nearly 5 percent of worldwide gross domestic product with some $4.12 trillion in annual sales. The industry is highly integrated both vertically and horizontally with long, international supply chains that increasingly are expanding in Asia and South America. The chemicals from the industry form the raw materials for thousands of product manufacturers who export products into the high consumption economies of Europe and North America and become the exported wastes that often end up in developing countries. This massive system makes up the global chemical economy that today stretches across every country in the world.
Keywords: Chemical industry, chemical production, product manufacturers, waste management industry, structurally integrated production systems, supply chains, globalization, energy consumption, waste generation
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