Session: CIE-20 SEIKM: Advanced Manufacturing for Bioeconomy and Circular Economy

Paper Number: 140630

140630 - Measuring the U. S. Biomanufacturing Economy 

This paper estimates biomanufacturing (manufactured products made of biomaterials) and advanced biomanufacturing (products manufactured using activities that grow biological molecules and materials along with activities that alter biological material using non-mechanical means) value added in ways that make it consistent with estimates of U.S. GDP. Direct advanced biomanufacturing is estimated as being $94.6 billion annually while total direct biomanufacturing is $438.8 billion annually. When including supply chain and other indirect value added, the total biomanufacturing industry is $1363.8 billion and advanced biomanufacturing is $259.9 billion. These estimates include biomanufacturing products that are excluded from estimates of the bioeconomy made by other organizations and/or individuals. For instance, a report by the National Academy of Sciences defines the bioeconomy as that being “driven by research and innovation in the life sciences and biotechnology,” which tends to exclude production of many food items that are included in this paper’s estimates. Other U.S. estimates differ from estimates of GDP and value added. This paper uses the EPA TRACI measures to evaluate the environmental impact associated with the production of products in the bioeconomy.  As calculated using NIST’s Manufacturing Cost Guide, the production of biomanufacturing goods accounts for 43 % of the total environmental impact resulting from economic activity in all U.S. industries while the production of advanced biomanufacturing goods is 6.4 %. This paper also examines the assets and material flow time.

Presenting Author: Douglas Thomas NIST

Presenting Author Biography: Douglas S Thomas is an economist in the Applied Economics Office at the National Institute of Standards and Technology. His work focuses on manufacturing industry costs, risks, and economic decision making. This work utilizes input-output analysis, econometrics, and survey techniques to measure costs and risks faced by manufacturing establishments. The results guide both manufacturers and research organizations in identifying high cost/loss areas of manufacturing that might have a high return when investing in research.

Authors:

Douglas Thomas NIST