Full Title: State of Play: The Chemical and Refining Sectors
Author(s): Clear Path
Publisher(s): Clear Path
Publication Date: April 28, 2025
Full Text: Download Resource
Description (excerpt):
A 35% increase in demand for chemicals is expected globally by 2050. This is an exciting time for the American industrial base, with many opportunities to simultaneously drive down the cost of innovative technologies and to scale and deploy energy innovation. Several private companies have announced commitments to invest in hydrogen, advanced nuclear and carbon capture, utilization and storage (CCUS) technologies. Reducing the cost of these technologies will enhance America’s position as a leader in energy and strengthen our manufacturing base, helping us overtake China as the largest exporter in the chemical and refining sectors. Investing in these innovative American technologies will increase the supply of key products that Americans use in their everyday lives, all while ensuring they are made cleaner.
Chemical production and refining are essential for producing fuels for power, heat and transportation. They also serve as vital inputs for a wide array of products, such as plastics, fertilizers, and pharmaceuticals, all of which are crucial to modern life.
This report aims to:
- Identify the energy technologies that are most applicable to the future of American chemicals and refining.
- Demonstrate the U.S.’ competitive advantage in the chemical and refining sectors, which are not only cleaner than our competitors’, but also have domestic growth opportunities.
- Illustrate the significant contribution of these sectors to the U.S. Gross Domestic Product (GDP) and export competitiveness.
- Outline policy recommendations to further the development and adoption of clean, innovative chemical production and refining technologies.