Future of Chemical Manufacturing Business Looks Good, SOCMA Says

Business is up and the outlook optimistic for the chemical manufacturing industry, according to theSynthetic Organic Chemical Manufacturers Association’s (SOCMA) second annual “Business Outlook”survey of member. However, data indicates market share held by competitors in evolving foreign markets,such as China, India and Eastern Europe, will double to 40% by 2007.

“We must create a level playing field so the U.S. chemical manufacturing industry can compete and winagainst foreign competitors,” commented SOCMA president Joe Acker.

Executives said for the most part, chemical suppliers are optimistic about the economic future, unlikerecent years. For example, 56% of respondents said the state of the market is “good,” up from lastyear’s survey 27%. Additionally, 70% of respondents said they expect to see a 5-10% increase in salesin 2005.