Global Chemicals Production Rises In April
The American Chemistry Council’s Global Chemical Production Regional Index (Global CPRI) shows that global chemicals production rose 0.1% in April after a revised flat performance in March, as measured on a three-month moving average (3MMA) basis. During April, chemical production increased in North America, Western Europe and Africa and the Middle East but decreased in Latin America and Central and Eastern Europe. Activity was flat in the Asia-Pacific region. The Global CPRI was up 1.8% year-over-year (Y/Y) on a 3MMA basis and stood at 109.6% of its average 2012 levels in April.
During April, capacity utilization in the global business of chemistry slipped 0.1 percentage points to 79.9%. This is off from 80.7% last April and is below the long-term (1987-2016) average of 88.8%.
Results were mixed on a product basis during April, with gains in pharmaceuticals, agricultural chemicals, inorganic chemicals, synthetic rubber, manufactured rubber, coatings and other specialty chemicals. Considering year-over-year comparisons, growth was strongest in plastic resins followed by coatings and inorganic chemicals.
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