Global chemicals output continues on a solid note in Q2-2019, according to American Chemistry Council

Global chemicals output continues on a solid note in Q2-2019, according to American Chemistry Council
Published: 14 July 2019 - 8 a.m.
By: Martin Menachery
Data collected and tabulated by the American Chemistry Council (ACC) show that global chemicals production in the second quarter of 2019 is improving, increasing by 0.4% in May and following a 0.3% 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% year-over-year (Y/Y) on a 3MMA basis and stood at 117.6% of its average 2012 levels.

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

Among chemical industry segments, May results were mixed on a product basis, with gains in bulk petrochemicals and organics, synthetic rubber, manufactured fibres, 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 fibres 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% of the total global chemical industry. This data is the only timely source of market trends for the global chemical industry and is comparable to the US CPRI data, a timely source of the US regional chemical production.

For the latest refining and petrochemical industry related videos, subscribe to our YouTube page.

Click here to add your comment

Please add your comment below
Your email address will not be published