Introduction to the Chemical Industry: An Overview
Before beginning a detailed discussion of the chemical industry, we should have a basic appreciation for the main sectors of a developed economy so that we may understand the role that this industry plays in the overall picture. Table 1.1 gives the major divisions of the U.S. economy along with their official designations or Standard Industrial Classifications (SIC) by the U.S. Bureau of Census. A similar classification system is used in Western Europe, Japan, and other complex societies. These sectors are separate but interdependent. For example, manufacturing draws on mining to buy iron ore for steel manufacture. The manufacturing sector also converts steel to machinery to sell back to mining for its operations.
KeywordsGross Domestic Product Chemical Industry Vinyl Chloride Trade Balance Standard Industrial Classification
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