10/24/2024 | Press release | Distributed by Public on 10/24/2024 15:13
The U.S. Chamber of Commerce recently issued a report titled "Essential Chemistries Providing Benefits Across the U.S. Economy," identifying "essential" uses of per- and polyfluoroalkyl substances (PFAS) in seven industries and the potential impact of the loss of these essential fluorochemistries on those industries and the national economy. Their analysis estimates the fiscal impact of PFAS bans and other restrictions in terms of lost labor income, employment, gross domestic product, and economic output.
This report was issued in response to public policies being considered both in the U.S. and abroad that would threaten the use of PFAS and follows the European Chemicals Agency's 2023 report evaluating the use, criticality, and replaceability of PFAS compounds in a wide variety of applications. Prior reports, however, do not analyze the impact of potential PFAS bans on the U.S. economy.
The Chamber of Commerce selected the following seven industries due to their dependence on essential fluorochemistries - gases, liquids, and solids - and evaluated their fiscal impact on a state-by-state basis while providing a description of industry-specific PFAS uses.
According to the report, the use of fluorochemistries in these seven industries supports 6 million jobs; over $550 billion in labor income; over $200 billion in federal, state, and local taxes; and over $2.4 trillion in output. Together these industries constitute approximately $1 trillion, or about 4%, of U.S. GDP, shown by state in Figure 1.
Figure 1: Total GDP Impact for States of Selected Sectors Dependent on Fluorochemistries, from Essential-Chemistries_-Providing-Benefits-Across-the-U.S.-Economy.pdf (uschamber.com).
Developing viable replacements for PFAS across these sectors is challenging and could take more than 5 to 20 years, depending on the application. The report highlights how crucial aspects of the U.S. economy rely on essential fluorochemistries. These materials are indispensable to the seven key industries considered, and any sudden policy changes that may disrupt the use of these essential fluorochemistries will impact both the nation and the global economy.