The availability of cheap natural gas feedstock from U.S. shale plays will help create 20% more new jobs in plastics manufacturing over the next decade, according to the American Chemistry Council (ACC). ACC said the plastics industry could see nearly $47 billion invested in new capacity. An estimated $24.7 billion will be invested in plastic resins, and $19.6 billion will be spent on plastic products. Net exports of plastics are expected to triple from $6.5 billion to $21.5 billion between 2014 and 2030.
ACC said plastics manufacturers typically pay workers $85,000 per year on average — more than 73% higher than the average wage for workers across U.S. industries.
MORE CHEMICAL PROCESSING NEWS: Shintech to build $1.4 billion ethylene plant in Louisiana
