No Drastic Changes: ACC Assures That the Global Chemical Industry Is SteadyOct 10th, 2017
According to the most recent Global CPR Index, chemistry production around the globe has not been affected much by Hurricane Harvey. While the solid pace of development was pulled back by the effect of the cataclysm, the overall production in fact rose 0.4% in August, which is lower than in July, yet not nearly as significant as experts expected after Harvey hit the state of Texas.
The CPRI, as calculated by ACC is a measure of overall volume of production of chemical industry across thirty-three countries and regions. CPRI is usually compared to the aggregate world total volume of production calculated by FRB. Approximately 98% of the total global chemical sector is covered by the index.
August marked a growth on the markets of Western Europe, Africa, the Middle East and the Asia-Pacific region. To visualize, the CPRI went up 3% Y/Y and turned out to be 111.5% higher its average coefficient of 2012. However, when the capacity utilization went up 0.1% and the new percentage of 80.7% was viewed as a probable stabilizer of the industry, it was still too low in comparison with the long-term average of 88.8%.
Product-wise, the sectors with the biggest gains were medicine, organic chemicals, resins, fibers, various specialty chemicals, and coatings. The latter, taking in account Y/Y comparison, seems to feature the strongest growth pattern.