Global chemicals output ends second quarter on a strong note, says American Chemistry Council

During June 2019, chemical production was essentially flat in the Middle East

During June, global capacity rose by 0.3% and was up 3.6% Y/Y. (Image for illustration only)
During June, global capacity rose by 0.3% and was up 3.6% Y/Y. (Image for illustration only)

Data collected and tabulated by the American Chemistry Council (ACC) show that global chemicals production ended second quarter of 2019 on a solid note, increasing by 0.8% in June following a 0.7% gain in May.

During June, chemical production increased in North America, Latin America, the Former Soviet Union (FSU) and Asia-Pacific. Activity fell in Europe and was essentially flat in Africa and the Middle East. Headline global production was up an improved 2.5% year-over-year (Y/Y) on a three-month moving average (3MMA) basis and stood at 118.9% of its average 2012 levels.

During June, global capacity rose by 0.3% and was up 3.6% Y/Y. As a result, capacity utilisation in the global chemical industry gained 0.5 points to 83.6%. This is down from 84.5% last June and below the long-term (1987-2017) average of 86.4%.

Among chemical industry segments, June results were positive across the board. Considering year-earlier comparisons, growth was strongest in manufactured fibres followed by bulk petrochemicals and organics, synthetic rubber, coatings, and other specialties.

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 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 US regional chemical production.

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