2Q Global Chemicals Output Continues on a Solid Note
2019-06-28    [Source:ACC]

Data collected and tabulated by the American Chemistry Council (ACC) show that global chemicals production in the second quarter 2019 is improving, increasing by 0.4 percent in May and following a 0.3 percent gain in April. During May, chemical production increased in North America, Latin America, the Former FSU, Africa and the Middle East, and Asia-Pacific. Activity fell in Europe. Headline global production was up 1.6 percent year-over-year (Y/Y) on a 3MMA basis and stood at 117.6 percent of its average 2012 levels.

During May, global capacity rose by 0.3 percent and was up 3.7 percent Y/Y. As a result, capacity utilization in the global chemical industry gained 0.2 points to 83.1 percent. This is down from 84.7 percent last May and below the long-term (1987-2017) average of 86.4 percent.

Among chemical industry segments, May results were mixed on a product basis, with gains in bulk petrochemicals and organics, synthetic rubber, manufactured fibers, coatings and other specialties offset by weakness in agricultural chemicals consumer products, inorganic chemicals, and plastic resins. Considering year-earlier comparisons, growth was strongest in manufactured fibers followed by synthetic rubber, bulk petrochemicals and organics, coatings, and plastic resins.

ACC’s Global CPRI measures the production volume of the chemical industry for 33 key nations, sub-regions, and regions, all aggregated to the world total. The index is comparable to the Federal Reserve Board (FRB) production indices and features a similar base year where 2012=100. This index is developed from government industrial production indices for chemicals from over 65 nations accounting for about 98 percent of the total global chemical industry. This data are the only timely source of market trends for the global chemical industry and are comparable to the US CPRI data, a timely source of U.S. regional chemical production.



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