USA: ACC Market Data Global Chemical Production Continues to Grow at Low Levels
Data collected and tabulated by the American Chemistry Council (ACC) show that global chemicals production rose 0.1 % in January. This follows a 0.3 % gain in December, stable activity in November and a 0.1 % gain in October.
Washington/USA — During January, chemical production gained in North America, the former Soviet Union (FSU), Africa and the Middle East, and Asia-Pacific, was flat in Latin America and fell in Europe. With softness earlier last year, the Global Chemical Producing Regional Index (Global CPRI) was up only 0.5 % year-over-year (Y/Y) on a three-month moving average (3MMA) basis and stood at 116.2 % of its average 2012 levels. During January, capacity utilization in the global chemical industry slipped 0.2 points to 83.1 %. This is down from 85.6 % last January and below the long-term (1987-2017) average of 86.5 percent.
Among chemical industry segments, January results were mixed on a product basis, with gains in agricultural chemicals, inorganic chemicals, plastic resins, synthetic rubber, manufactured fibers, coatings, and other specialty chemicals offset by weakness in consumer products and bulk petrochemicals and organics. Considering year-earlier comparisons, growth was strongest in coatings, followed by bulk petrochemicals and organics and plastic resins.