Global February chemical output falls faster than January on coronavirus impacts – ACC

HOUSTON (ICIS)–Global chemical production in February fell at an accelerated pace from January, led by a large decline in China and other countries because of the coronavirus (Covid-19), the American Chemistry Council (ACC) said in its Global Chemical Production Regional Index (CPRI) report.

By region, chemical production fell month on month in Asia-Pacific, North America, Latin America, as well as Africa and the Middle East. Output was flat in Europe and up in the Former Soviet Union (FSU).

Year on year, chemical production was down in North America, Europe and Asia-Pacific.

The Global CPRI was down 1.5% year on year on a three-month moving average (3MMA) basis.

Global capacity rose month on month and year on year, and global utilisation rate fell month on month and year on year.

“Among chemical industry segments, February results were decidedly negative across all segments,” the report said.

“Considering year-earlier comparisons, growth was present in only plastic resins”

Interactive content by Tracy Dang

Visit the ICIS coronavirus topic page for analysis of the impact on chemical markets and links to latest news.