RSC Says Chemistry Added £60.5 Billion to UK Economy, Urges Action on Skills Pipeline
Updated
Updated · Chemistry World · Jul 7
RSC Says Chemistry Added £60.5 Billion to UK Economy, Urges Action on Skills Pipeline
1 articles · Updated · Chemistry World · Jul 7
Summary
£60.5 billion in gross value added came from the UK chemical sciences in 2023, according to a Royal Society of Chemistry report that says local, devolved and national governments should treat chemistry as a growth asset.
18% growth from 2019 to 2023 and £98,300 value added per worker—versus a UK average of £73,300—underpinned the case, with the report saying chemistry’s annual contribution is roughly equivalent to the whole tourism sector.
49% of chemistry graduates work in government priority sectors including clean energy, advanced manufacturing and defence, but the RSC said university funding pressure, course cuts and department closures are weakening the talent pipeline.
Rising energy costs, geopolitical volatility and stronger global competition are also threatening chemistry’s ability to scale innovation and retain value in UK regions, prompting calls for stronger links between research, training and industry.
As its £60bn chemical sector booms, why is the UK defunding the university courses that fuel its success?
Can the UK's 'Invest 2035' industrial plan succeed when the skills pipeline it relies on is collapsing?
Chemistry’s £60.5 Billion Impact: Securing the UK’s Economic Future Through Skills, Innovation, and Infrastructure
Overview
The chemical sciences sector made a major impact on the UK economy in 2023, contributing £60.5 billion in Gross Value Added and growing by 18% since 2019. This strong economic output highlights chemistry’s vital and expanding role in national prosperity. Despite challenges, the sector continues to grow and is seen as essential for achieving the UK Industrial Strategy and driving overall growth. Industry leaders emphasize that supporting chemistry should be a priority, as its ongoing success is crucial for the country’s future economic strength and innovation.