Chemicals sector aiming for 50% growth
22 Oct 2013
MPs and industry leaders are meeting today to discuss the challenges facing chemical sector plans to achieve 50% growth by 2030.
Business secretary Vince Cable and business minister Michael Fallon will meet chemicals business leaders to advance an industry-led strategy, which could see the chemicals sector grow by 50% in the next 18 years.
As we move to a low carbon economy, it is imperative that the UK chemical industry is at the forefront of innovation
Business minister Michael Fallon
The recently formed Chemistry Growth Partnership (CGP), to which Michael Fallon is co-chairman, will discuss the importance of shale gas, the establishment of a centre to foster innovation and a strengthening of relationships between major companies and small and medium enterprises (SME’s).
Business minister Michael Fallon said: “As we move to a low carbon economy, it is imperative that the UK chemical industry is at the forefront of innovation and has a skilled workforce adaptable to changing technologies. Working with industry, we can confront any challenges early and ensure the sector is building on its already impressive track record.”
Currently the UK chemical industry accounts for over half a million jobs and is considered Britain’s primary manufacturing exporter.
Chief executive of Johnson Matthey and co-chairman of the CGP Neil Carson said: “The products and technologies of the chemical industry are delivering huge benefits for society including vital medicines, food and climate change solutions. Growing the sector in the UK is critical for the economy, social progression and the environment.”
