Global Chemicals Production Softens In August

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Oct 09, 2018, 09:17 ET

WASHINGTON, Oct. 9, 2018 /PRNewswire/ -- Global chemical industry activity eased in August, according to data collected and tabulated by the American Chemistry Council (ACC). ACC's Global Chemical Production Regional Index (Global CPRI) shows that global chemicals production fell back 0.3 percent in August. This follows a 0.2 percent gain in July, a strong second quarter, and a weak first quarter. During August, production declines were fairly steady across the board among regions but flat in North America and rising in Latin America, Africa, and the Middle East. After softness earlier in the year, the Global CPRI was up only 0.5 percent year-over-year (Y/Y) and 1.2 percent year-to-date (YTD) on a 3MMA basis and stood at 115.5 percent of its average 2012 levels in August.

During August, capacity utilization in the global chemical industry eased 0.5 points to 83.9 percent. This is down from 85.9 percent last August and below the long-term (1987-2017) average of 86.5 percent.

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 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 U.S. regional chemical production.

Global Chemical Production by Country/Region, Percentage Change
(Seasonally adjusted, 3-month moving average)

	Current	Prior	Year/	Year-to-
	Month	Month	Year	Date
	Aug 18/	July 18/	Aug 18/	YTD 18/
	July 18/	June 18	Aug 17	YTD 17
Global Total	-0.3	0.2	0.5	1.2
North America	0.0	0.3	3.7	2.9
United States	-0.1	0.4	3.7	3.1
Canada	1.0	1.5	7.4	2.9
Mexico	0.7	-1.5	0.0	-1.1
Latin America	0.2	0.1	1.8	0.8
Brazil	0.9	0.6	5.7	4.7
Chile	0.9	0.7	6.8	1.9
Other Latin America	-2.3	-2.4	-14.0	-11.0
Europe	-0.3	0.0	-0.2	1.5
France	-1.2	-1.0	-3.5	-0.7
Germany	0.0	0.8	0.4	1.9
Italy	0.0	0.1	0.4	1.9
United Kingdom	0.3	0.5	-2.3	-1.8
Belgium	-0.7	-1.4	-3.9	0.6
Netherlands	-0.3	-0.5	-0.6	0.6
Spain	-0.4	0.1	1.0	3.0
Other Western Europe	-0.2	-0.1	1.0	2.0
Central & Eastern Europe	0.1	0.5	5.9	5.5
Former Soviet Union (FSU)	-0.1	0.3	6.8	4.0
Russia	-0.3	-0.1	4.2	2.5
Other	2.3	2.5	31.3	17.9
Africa & Middle East	0.6	0.4	4.8	4.3
Asia- Pacific	-0.5	0.2	-0.6	0.4
China	-0.5	0.0	-3.1	-1.8
Japan	-0.6	0.4	1.1	3.8
South Korea	-0.5	0.2	5.9	4.9
India	-1.3	-1.4	3.9	3.2
` Malaysia	1.1	0.9	3.1	4.8
Singapore	-1.3	0.3	7.1	9.9
Taiwan	1.4	2.8	10.2	6.2
Other Asia-Pacific	0.3	0.3	1.1	0.1

Global Chemical Production by Segment, Percentage Change
(Seasonally adjusted, 3-month moving average)

	Current	Prior	Year/	Year-to-
	Month	Month	Year	Date
	Aug 18/	July 18/	Aug 18/	YTD 18/
	July 18/	June 18	Aug 17	YTD 17
Global Total	-0.3	0.2	0.5	1.2
Agricultural Chemicals	0.0	0.3	-9.8	-5.3
Consumer Products	-0.1	0.4	-2.0	0.8
Basic Chemicals	1.0	1.5	2.6	2.1
Inorganic Chemicals	0.7	-1.5	-3.0	-0.9
Organic Chemicals	0.2	0.1	3.9	3.2
Plastic Resins	0.9	0.6	2.3	2.7
Synthetic Rubber	0.9	0.7	5.2	-0.4
Manufactured Fibers	-2.3	-2.4	8.1	1.2
Specialty Chemicals	-0.3	0.0	-0.1	0.9
Coatings	-1.2	-1.0	2.4	-0.3
Other Specialty Chemicals	0.0	0.8	-1.5	1.5

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The American Chemistry Council (ACC) represents the leading companies engaged in the business of chemistry. ACC members apply the science of chemistry to make innovative products and services that make people's lives better, healthier and safer. ACC is committed to improved environmental, health and safety performance through Responsible Care®; common sense advocacy designed to address major public policy issues; and health and environmental research and product testing. The business of chemistry is a $526 billion enterprise and a key element of the nation's economy. It is among the largest exporters in the nation, accounting for fourteen percent of all U.S. goods exports. Chemistry companies are among the largest investors in research and development. Safety and security have always been primary concerns of ACC members, and they have intensified their efforts, working closely with government agencies to improve security and to defend against any threat to the nation's critical infrastructure.

SOURCE American Chemistry Council