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Chemicals production continues strong growth

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Hydrocarbon Engineering,

The American Chemistry Council (ACC) has today released data that confirms that growth in global chemistry during November was boosted by a synchronised up-swing in the global economy. The American Chemistry Council’s Global Chemical Production Regional Index (Global CPRI) reveals that global chemicals production rose 0.6% in November, following on from a 0.5% gain in October. During November, production gains were experienced across all regions. The Global CPRI was up 3.1% y/y on a three-month moving average basis and stood at 112.4% of its average 2012 levels in November.

During November, capacity utilisation in the global business of chemistry increased from 80.6% to 81%. This is up from 80.3% last November but is below the long-term (1987 – 2016) average of 88.8%.

On a product basis, results were generally positive during November, with weakness only in synthetic rubber and pharmaceuticals. Considering y/y comparisons, growth was strongest in coatings followed by pharmaceuticals, consumer products, manufactured fibres, and organic chemicals.

ACC’s Global CPRI measures the production volume of the business of chemistry for 33 nations, sub-regions, and regions, all aggregated to the world total. The index can be compared 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 business of chemistry.

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