Fracking through the "shale gas revolution" created an economic boost during a time the economy needed all the help it could get, according to a working paper published by the National Bureau of Economic Research. Fracking boosted the economy by $48bn per year between 2007-13, according to the study's authors: Catherine Hausman and Ryan Kellogg of the University of Michigan.

The recovery momentum for the chemical industry is expected to continue this year, backed by a strengthening U.S. economy, strength in the automotive space, healthy demand in emerging geographies and gradually convalescing construction markets.