Global chemicals uutput declined In August

Global chemicals uutput declined In August
Published: 7 October 2019 - noon
By: Martin Menachery
Data collected and tabulated by the American Chemistry Council (ACC) show that global chemicals production fell by 0.4% in August, more than offsetting the 0.1% gain in July. During August, chemical production increased in Latin America and Africa and the Middle East. Production fell in other regions. Headline global production was up only 1.6% year-over-year (Y/Y) on a three-month moving average (3MMA) basis and stood at 118% of its average 2012 levels.

During August, global capacity rose by 0.2% and was up 3.6% Y/Y. As a result, capacity utilisation in the global chemical industry fell 0.5 points to 82.5%. This is down from 84.1% last August and below the long-term (1987-2017) average of 86.4%.

Among chemical industry segments, August results were mixed, with consumer products, synthetic rubber, manufactured fibres and coatings showing gains. Considering year-earlier comparisons, growth was strongest in manufactured fibres, followed by synthetic rubber, other specialties, coatings and inorganic chemicals.

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 are comparable to the US CPRI data, a timely source of the US regional chemical production.

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