Global chemical production climbs for the sixth consecutive month
According to data collected and collated bythe American Chemistry Council (ACC), global chemical production rose 1.9percent in November, up from 1.7 percent in October, extending a recovery thatbegan in June.According to the Hydrocarbon Processing Network, chemicalproduction increased in November in all regions except the former Soviet Union(FSU).
Total global production is up 3.7 percentyear on year on a three-month average and is now 2.9 percent above itspre-pandemic peak in December of the previous year. Global production was122.0% of the 2012 average.
Global production capacity rose 0.1 percentin November and 2.2 percent from a year earlier. Capacity utilisation in theglobal chemical industry rose 1.5 percentage points to 82.9 percent as outputincreased. This is up from 81.7% in October last year and the pre-outbreak peakin December 2019, but is below the long-term (1987-2017) average of 86.5%.
In the chemical sector, November resultswere positive, with gains across all sectors. Compared with the same periodlast year, the growth of the coatings industry was mixed, including growth inplastic resins, synthetic rubber, man-made fibers, bulk petrochemical andorganic products, inorganic chemicals, other specialty products, agriculturalchemicals and consumer products, but the coatings industry declined.