The recent history (1972-1976) of the PCI has been one of better than average growth and only average profitability. Leading companies in each PCI sector enjoyed growth rates in the range of 16-22% per year (versus 9% for all U.S. manufacturing). However, the level of profitability was only about average for all U.S. manufacturing or comparable industrial segments (e.g., 10-11% after-tax return on stockholders' equity). An important exception has been the water treatment chemicals segment which has been among the most profitable in American industry. In 1977, the markets for these pollution control products totalled $1.8 billion. These markets are projected to grow to $3.5 billion by 1983 or at a pace of 11-12% per year (in current dollars and assuming 5-7% inflation). Current employment by the PCI in association with these markets is estimated to be 35,850 jobs. Assuming that the amount of sales generated per employee will continue to increase as well, employment is projected to grow to 43,900 in 1983.