The American Chemistry Council (ACC) reported that U.S. specialty chemicals market volumes grew 1.1% in July, a much faster pace than the 0.3% gain in June. This left volumes off 2.4%from pre-COVID levels. Of the 28 specialty chemical segments that ACC monitors, 23 expanded in July, up from 13 in June. Four segments declined in July and one was neutral. On a sequential basis, diffusion was 84%, up from 46% in June. During July, 16 segments featured gains of 1.0% or more.

 

During July, overall specialty chemicals volumes were up 10.1% on a year-over-year (Y/Y) basis. Total volumes stood at 103.7% of their average 2017 levels in July. This is equivalent to 7.61 billion pounds, or 3.45 million metric tons. On a year-earlier basis, all 28 chemical segments showed gains. Diffusion was 100% in July, up from 96% in June.

 

Since last year, the recovery has largely been V-shaped. Entering the third quarter, volumes were up 3.9% year-to-date (YTD). If the economic recovery continues, then 2021 should be a good year for specialties.

 

This data set is the only timely source of market trends for 28 market and functional specialty chemical segments. Chemistry directly touches over 96% of all manufactured goods, and trends in these specialty chemical segments provide a detailed view of trends in manufacturing. The data also shed light on how various consumer end-use markets are performing compared with others in the marketplace.