According to the American Chemistry Council’s (ACC) Mid-Year 2018 Chemical Industry Situation and Outlook, the US chemical industry is set for a better performance in 2018 after what was a very mixed 2017.
The report states that strong global growth prospects, rising exports, an upswing in manufacturing, balanced chemical inventories, healthy demand from end-use markets, and favourable shale gas economics are among the factors suggesting positive growth for this year. All data related to chemical production and the business of chemistry exclude pharmaceuticals.
Housing is set to extend its steady recovery in 2018. Despite a pull back from record-high vehicle sales, the automotive sector is expected to remain at relatively elevated levels. Both are important end-use customers for chemistry. The US chemical industry continues to enjoy a competitive advantage from robust supplies of shale gas and natural gas liquids, leafing to significant investment in new capacity and capital spending that will continue to grow through 2023.
The Outlook states that, “During 2018, output gains are expected to be strongest in agricultural chemicals, consumer products, coatings and bulk petrochemicals and organics.”
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