Global chemical production climbed for the sixth straight month

According to data collected and compiled by the American Chemistry Council (ACC), global chemical production rose 1.9 percent in November 2020, up from 1.7 percent growth in October and the sixth straight month of growth since June. Chemical production rose in almost every region of the world in November. On a 3-month moving average basis, global chemical production in November was up 3.7% year over year and 2.9% above the pre-Covid-19 peak in December 2019.

In November, global chemical production capacity rose 0.1 per cent month-on-month and 2.2 per cent year-on-year. Capacity utilisation in the global chemical industry rose 1.5 percentage points to 82.9 per cent as output increased. This is up from 81.7% in October and the pre-outbreak peak in December 2019, but below the average capacity utilization rate of 86.5% for the 1987-2017 period.

In each segment of the chemical industry, November results were positive, with production growth in all segments. However, compared with the same period last year, the production of most of the segmented industries increased, including plastic resins, synthetic rubber, man-made fibers, bulk petrochemical products and organic chemicals, inorganic chemicals, other specialty products, agricultural chemicals and consumer chemicals production increased, but the production of paint industry contracted.

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