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Global hemicals output rebounds in June

August 05/2020

MOSCOW (MRC) -- Data collected and tabulated by the American Chemistry Council (ACC) show that due to growth in China, global chemicals production rose by 0.6 percent in June, an improvement from the 0.5 percent decline in May, said Americanchemistry.

Production has been declining throughout this year, with the last monthly gain occurring in December 2019. During June, chemical production fell in major regions except Asia-Pacific. Headline global production was off 7.2 percent year-over-year (Y/Y) on a three-month moving average (3MMA) basis and was off 7.4 percent from the peak December level. Global output stood at 109.8 percent of its average 2012 levels.

During June, global capacity was stable and was up 2.6 percent Y/Y. With improving production, capacity utilization in the global chemical industry increased by 0.5 points to 75.3 percent. This is down from 83.2 percent last June and below the long-term (1987-2017) average of 86.5 percent.

Among chemical industry segments, June results were generally positive, with gains in segments except bulk petrochemicals and organics and coatings providing support. Compared with a year earlier, growth was absent in all segments, with a strong decline in coatings.

ACCs Global Chemical Production Regional Index (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.

As MRC informed earlier, Russia's output of chemical products rose in June 2020 by 2.6% year on year. However, production of basic chemicals increased year on year by 4.9% in the first six months of 2020. According to the Federal State Statistics Service of the Russian Federation, polymers in primary form accounted for the greatest increase in the output in January-June. Production of benzene was 106,000 tonnes in June 2020, compared to 110,000 tonnes a month earlier. Overall output of this product reached 721,000 tonnes over the stated period, up by 3.9% year on year.


mrcplast.com
Author:Anna Larionova
Tags:petroleum products, crude oil, petrochemistry.
Category:General News
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