Global chemical production rose 1.4% in February

According to the American Chemistry Council (ACC) recently, global chemical production increased by 1.4% in February, a slightly slower growth rate than in January.

ACC’s Global Chemical Production Index (CPRI) measures the chemical industry output of 33 major countries, sub-regions and regions, all of which are combined with the world’s total. During February, production in most regions was very low, and the output of chemical products in the Commonwealth of Independent States and the Asia-Pacific region increased.

According to a three-month moving average (3MMA) calculation, total global production increased by 14.4% year-on-year. Global production is 132% of the 2012 average. Global production capacity increased by 0.2%, a year-on-year increase of 1.9%. With the increase in the utilization rate of production capacity, the utilization rate of the global chemical industry rose by one percentage point to 89.2%, higher than the level in February.

The freezing weather in mid-February affected North American chemical production. Production in the region fell by 3.3%, production activity in Mexico has improved, and production in Canada has been weak. Compared with the decline in the United States, Canada and Mexico during the same period last year, activity in the region fell by 3.9%.