WASHINGTON (June 7, 2021; ACC release) — Global chemicals production fell 0.8% in April after a 0.3% easing in March, according to data collected and tabulated by the American Chemistry Council (ACC). During April, chemical production grew in Europe and Africa and the Middle East and was weak elsewhere. Headline global production was up 18.3% year-over-year (Y/Y) on a three-month moving average (3MMA) basis. Global output stood at 130.4% of its average 2012 levels.
During April, global capacity rose 0.2% and was up 2.1% Y/Y. With output easing, capacity utilization in the global chemical industry fell back 1.0 points, to 87.6%. This is well above 75.6% last April and above the long-term (1987-2019) average of 86.3%.
Among chemical industry segments, April results were largely negative, with gains limited to synthetic rubber, manufactured fibers, and coatings. Considering year-earlier comparisons, production gains occurred in all segments.
ACC’s 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% 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.