The American Chemistry Council’s Global Chemical Production Regional Index (Global CPRI) shows that headline global production was flat during November on a three-month moving average (3MMA) basis. This follows two months of decline and fairly good gains last year.
During November, chemical production increased in North America, Latin America, and Central and Eastern Europe but fell in Western Europe and the Asia-Pacific regions.
Chemical production was flat in Africa and the Middle East. The Global CPRI was up only 0.4% year-over-year (Y/Y) on a 3MMA basis and stood at 108.1% of its average 2012 levels in September.
During November, capacity utilisation in the global business of chemistry declined 0.1 percentage points to 78.3%. This is off from 80.5% last November and is below the long-term (1987-2015) average of 89.1%.
Results were mixed on a product basis during November, with gains in consumer products, inorganic chemicals, plastic resins, synthetic rubber, coatings, and other specialties.
Considering year-over-year comparisons, growth was strongest in coatings followed by plastic resins, and other specialty chemicals.
ACC’s Global CPRI measures the production volume of the business of chemistry for 33 key nations, sub-regions, and regions, all aggregated to the world total.
This index is developed from government industrial production indices for chemicals from over 65 nations accounting for about 98% of the total global business of chemistry.