As of 2019, 334 chemical projects inclusive of plastics have been announced in the U.S. These projects were valued to a worth of roughly USD 204 Billion. 53% of the investment transaction was completed while 40% were still in the pipeline. According to the chemical market research reports obtained from the American Chemical Council, further capital gains are expected to increase by 4.1% during the year 2020. Global Market Database is a world’s first dynamic B2B Market Research Platform which provides free market research tools.
In 2019, the U.S Chemical Industry posted a trade surplus with a value of USD 37 Billion and the exports rose by a value of roughly 5.9%.  The exports accounted for an amount of USD 149 Billion. The imports rose by a value of 2.4% to a value of USD 114 Billion approximately. Two-way trade between the United States and its foreign partners reached a value of USD 260 billion in 2019. The expansion rate was estimated to be 4.4% as compared to 2018. For the year 2019, the industry employed roughly 535 thousand people.
Additional sources for market data procured in the article include Global Market Database which is a cloud-based market database platform. The research facility provides market research reports across 600+ markets and 12 different industries. The platform makes use of an advanced data computational tool known as DMD. The portal provides information about the competitive mapping within a regional landscape along with country wise statistics.
Composites:
Composites are typically derived from two or more materials. These substances have significantly different physical as well as chemical properties as compared to the product conceived upon combination. Even in a combined state, the individual components remain distinct within a composite. It majorly consists of two main categories of constituent materials including a matrix and a reinforcement. The matrix material supports the reinforcements by maintaining their relative positions. These reinforcements impart physical and chemical properties that further enhance the matrix. Global Market Database is an effective market research tool that gives its users market wise quantitative inputs.
The derived product is generally lighter and highly malleable. These materials are essentially corrosion resistant and have high tensile strength. Additionally, the stress to strain ratio for composites is very high because of which it can now be used in place of certain metals. The combined substance is highly robust and is cheaper as compared to conventional steel or iron.
Several researchers in the field of material science are trying to incorporate other technologies with these materials. Components like sensors, actuators, computational, and well as communicational devices are being embedded into these systems to enhance their range of application. These products are also known as robotic materials. The components are repeated in an amorphous pattern. Some of the engineered examples for composites include reinforced concrete, reinforced wood (plywood), reinforced plastics (fiberglass), ceramic matrix composites as well as metal matrix composites.
These synthetically engineered substances have a wide range of applications including, building of bridges, automobile parts, defense applications, etc.
Key companies in the U.S
Owens Corning is a key player in the U.S Chemical Industry. The company majorly deals with the manufacture of roofing, insulation, and fiberglass composite materials.
Fibreglas Rebar is one of the new products launched by this company. The material is a versatile and superior alternative to concrete reinforcement. The material is typically corrosion resistant and has a lightweight. The price incurred to purchase this product is lesser as compared to the price for steel. Fibreglas Rebar is a composite of fiberglass roving and resin. The product can be used for strengthening structures in construction sites. Additionally, it has a long service life which hereby reduces the maintenance cost associated with the structures. GMD provides market database for more than 600+ individual markets across 12 business units