ACC Reports Global Chemicals Output Increased in February
WASHINGTON – Global chemicals production rose 1.4% in February, continuing the global recovery that started last June, according to data collected and tabulated by the American Chemistry Council (ACC). Chemical production grew in the Asia-Pacific region and the Former Soviet Union (FSU), while output was weak elsewhere. Headline global production was up 14.4% year-over-year (Y/Y) on a three-month moving average (3MMA) basis. Output a year ago was off due to the COVID-19 pandemic. Global output stood at 132.0% of its average 2012 levels.
During February, global capacity rose 0.2% and was up 1.9% Y/Y. With improving production, capacity utilization in the global chemical industry rose 1.0 points to 89.2%. This is well above last February and above the long-term (1987-2019) average of 86.3%. Among chemical industry segments, February results were positive, with gains seen across all segments except synthetic rubber. Considering year-earlier comparisons, production gains occurred in all segments.