Skip to main content
Sister Publication Links
  • Plastics News
  • Plastics News China
SustainablePlasticsFINAL
Subscribe
  • Login
  • SUBSCRIBE
  • News
    • Recycling
    • Sustainability
    • Bioplastics
    • Technology & Materials
    • ExxonMobil joins Agilyx feedstock partnership
      Lidl
      PreZero pushing forward towards a circular value chain
      Wikipedia Foam Takeout-main_i.jpg
      Virginia lawmakers reach 'great polystyrene compromise,' pass EPS ban, chemical recycling law
      Vita Nova aims to ensure a new life for flexible packaging
    • Arburg publishes its first Sustainability Report online
      Wikipedia Foam Takeout-main_i.jpg
      Virginia lawmakers reach 'great polystyrene compromise,' pass EPS ban, chemical recycling law
      Natural household product supplier Aunt Fannie’s now certified plastic neutral
      Azek-Recycling-Bin-main_i.png
      Azek decking, Sika roofing boost recycled content
    • SoluBlue’s seaweed-based polymer packaging wins Postcode Lotteries Green Challenge
      PHA: As green as it gets
      Braskem to invest $61 million to expand green ethylene production capacity
      On a healthy footing from the start - new shoe brand launches recovery slip-on made from eco-foam
    • Injection Moulding
    • Blow Moulding
    • Extrusion
    • Thermoforming
    • 3D printing
    • Technology
    • Materials
    • Machinery
  • Opinion
    • View Point
    • PHA: As green as it gets
      Opinion: The future of sustainable plastic
      A year to remember
      Opinion: California introduces world’s toughest plastic bottle recycling legislature – will other markets follow?
  • Events
    • Our Exhibitions
    • Plastics Industry Awards (PIA)
    • Ask the Expert
    • Sustainable Plastics Live
    • Reifenhäuser Technologies Livestreams
    • Plastics News Europe Live Archives
    • Plastics Recycling Show Europe
  • Prices & Resources
    • Polymer Prices
    • Data Reports
    • White Papers
  • Contact
    • Advertise
    • Media Pack
  • Subscribe
  • Digital magazine
    • Digital Magazine
  • Multimedia
MENU
Breadcrumb
  1. Home
  2. News
June 24, 2013 07:00 AM

Shale fields could spell renewed success for plastics producers

Crain's Cleveland Business
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    Shale field in Ohio and other US states could spell renewed success for chemical and plastics manufacturers, Kevin Swift, chief economist and managing director for the American Chemistry Council, told audience members during a conference in Cleveland.

    Swift called the increase of available natural gas due to hydraulic fracturing operations in the shale regions the biggest development in his industry in 70 years, predicting that it would lead to new investments and job growth.

    “It's been a game changer,” Swift said.

    The ‘Shale Gas Promises and Challenges' conference, which was sponsored by the National Academy of Engineering and hosted by Case Western Reserve University, brought in environmental, economic and industrial experts to discuss the growing field.

    The session Swift was part of took a decidedly positive view of shale gas and fracking. Representatives of the industrial and chemical sectors discussed how low-cost natural gas has led to lower energy costs overall for manufacturers.

    But chemical manufacturers also use natural gas for raw materials, helping them realise even more savings. Swift predicted that the US would have a big trade surplus in plastic resins by the end of the decade, going as far as to say he thinks the chemical surplus will be great enough to offset the country's deficit in pharmaceuticals.

    The American Chemistry council released a study in May supporting Swift's claims. According to the study, there were almost 100 chemical industry investments in the United States from 2010 through March 2013, totalling close to $72bn (€54.9bn). Many of those investments have come from companies outside the US, which the study cites as a sign of the “value and affordability” of the country's shale and ethane gas supplies.

    It's an exciting time to be in the chemical manufacturing industry, which was not the case 10 years ago, Swift said. Now, the industry is growing and has a “promising future,” he added.

    Chad Moutray, chief economist with the National Association of Manufacturers, said all manufacturers benefit from less expensive energy, and that he advises people to wait a few years before judging the number of jobs added. Projects take a while to get off the ground, and he thinks that despite recent delays, long-term growth potential is still promising.

    Get our newsletters

    Staying current is easy with Sustainable Plastics' news delivered straight to your inbox, free of charge.

    Subscribe

    Subscriptions to Sustainable Plastics, the leading Pan-European magazine for the circular plastics industry are coming soon.

    Subscribe now
    Connect with Us
    • LinkedIn
    • Twitter

    "In a changing world, Sustainable Plastics is a constant: a platform the plastics industry can rely on to deliver the news and knowhow impacting the industry going forward”

    SustainablePlasticsFINAL
    Contact Us

    11 Ironmonger Lane, EC2V 8EY
    United Kingdom 
     

    Customer Service:
    1-313-446-0450

    [email protected]

     

    Resources
    • Advertise
    • Sitemap
    • Careers
    • Subscribe
    Affiliates
    • Plastics News
    • Plastics News China
    • LSR World
    • Urethanes Technology
    • Tire Business
    • Rubber & Plastics News
    • Automotive News
    • Automotive News Europe
    • Crain Publications
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2021. Crain Communications, Inc. All Rights Reserved.
    • News
      • Recycling
      • Sustainability
      • Bioplastics
      • Technology & Materials
        • Injection Moulding
        • Blow Moulding
        • Extrusion
        • Thermoforming
        • 3D printing
        • Technology
        • Materials
        • Machinery
    • Opinion
      • View Point
    • Events
      • Our Exhibitions
        • Plastics Recycling Show Europe
      • Plastics Industry Awards (PIA)
      • Ask the Expert
      • Sustainable Plastics Live
      • Reifenhäuser Technologies Livestreams
      • Plastics News Europe Live Archives
    • Prices & Resources
      • Polymer Prices
      • Data Reports
      • White Papers
    • Contact
      • Advertise
      • Media Pack
    • Subscribe
    • Digital magazine
      • Digital Magazine
    • Multimedia