By: ICN Bureau
Last updated : March 06, 2018 8:18 pm
During May, capacity utilization in the global business of chemistry declined 0.2 percentage points to 79.3 percent. This is off from 81.0 percent last May and is below the long-term (1987-2015) average of 89.2 percent.
The American Chemistry Council’s Global Chemical Production Regional Index (Global CPRI) shows that the second quarter continued on a soft note, with the headline index rising 0.1 percent on a three-month moving average (3MMA) basis in May. This follows four months of stable activity but a fairly strong fourth quarter. During May, chemical production increased in North America, Central & Eastern Europe and Africa & the Middle East, while activity was flat in Western Europe and Asia-Pacific, and fell in Latin America. The Global CPRI was up 1.9 percent year-over-year (Y/Y) on a 3MMA basis and stood at 108.3 percent of its average 2012 levels in May.
During May, capacity utilization in the global business of chemistry declined 0.2 percentage points to 79.3 percent. This is off from 81.0 percent last May and is below the long-term (1987-2015) average of 89.2 percent.
All segments of the business of chemistry have improved from the trough of the recession with the most pronounced recovery having occurred in the cyclical segments. During May, results were mixed, with weakness in the production of pharmaceuticals and organic chemicals offset by gains in agricultural chemicals, consumer products, inorganic chemicals, plastic resins, synthetic rubber, manufactured fibers, coatings and other specialties. Considering year-over-year comparisons, chemical production increased in most categories. Growth was strongest in plastic resins followed by organic chemicals, other specialty chemicals, and consumer products.