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WASHINGTON (August 29, 2019) – Data collected and tabulated by the American Chemistry Council (ACC) show that global chemicals production started the third quarter of 2019 on a soft note, easing by 0.1 percent in July and following a 0.6 percent gain in June. During July, chemical production increased in Africa and the Middle East and in Asia-Pacific. Activity fell other regions. Headline global production was up only 1.7 percent year-over-year (Y/Y) on a three-month moving average (3MMA) basis and stood at 118.2 percent of its average 2012 levels.

During July, global capacity rose by 0.3 percent and was up 3.6 percent Y/Y. As a result, capacity utilization in the global chemical industry eased 0.3 points to 82.9 percent. This is down from 84.4 percent last July and below the long-term (1987-2017) average of 86.4 percent.

Among chemical industry segments, July results were weak across the board with only synthetic rubber, manufactured fibers, coatings and agricultural chemicals showing gains. Considering year-earlier comparisons, growth was strongest in manufactured fibers, followed by synthetic rubber, coatings, inorganic chemicals 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 more than 65 nations accounting for about 98 percent of the total global chemical industry. This data set is the only timely source of market trends for the global chemical industry and is comparable to the U.S. CPRI data, a timely source of U.S. regional chemical production.

Global CPRI August 2019 i

Global CPRI August 2019 ii

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