It comprises of the several companies that are involved in the production of various chemicals, for the various purposes. The industry deals with the conversion of raw materials into a variety of essential products in the various economies. Some of the materials in the industry include natural gas and oil. Others in the list are metals, the various minerals, and water. There are several or thousands of products that can be made from the raw materials. Notably, there are also thousands of companies in the Chemical Industry. It is also apparent and clear that there has been an improvement in growth of the industry in the different nations. The success and growth in the industry may be attributed to the high and improved technology as well as the increased scientific innovations. Another factor is the continued supports of various nations for the industry. Notably, it is a major contributor to the global economy. Several nations export goods from the industry worth a lot of money. Furthermore, the presence and availability of raw materials are critical to the development of the industry.
The Chemical Industry and the Economy
Notably, several nations support the development of the industry due to the benefits they have. To start with, they stand as a major source of income or revenue for these countries. Huge productions from the various companies and plants are exported to other nations. These funds are then used for the national development of the exporting nations. Evidently, the industry has grown and so has the employment rates. The different companies and plants need workers at all levels. The industry has thus provided and created employment for several people in the different nations. The industry fosters the development of other sectors of the economy. For example, the production of fertilizers is critical in boosting the agricultural sector. The plastics are vital for packaging in the various companies and sectors. These are just some examples. The industry is vital and provides commodities for use by the several other industries and sectors.
Pollution in the Chemical Industry
While the industry is a vital component in most economies, it is a major contributor to pollution in the world. Different companies cause a lot of pollution. To make matters worse, most are located in the urban places. This makes the air surrounding the companies and plants dangerous and impure. To contain the situation and reduce pollution rates, several countries have regulations and rules regarding the minimizing and eradicating pollution caused by the industry.
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