ACC: US specialty chemicals markets rise during 4Q 2016
WASHINGTON – The American Chemistry Council (ACC) reported that US specialty chemicals market volumes rose 0.4% in November. This follows a revised 0.1% gain in October and a 0.2% gain in September. Volumes have generally been moving up since May.
All changes in the data are reported on a three-month moving average (3MMA) basis. Of the 28 specialty chemical segments ACC monitors, 21 expanded in November and seven experienced decline. During November, large gains (1.0% and over) were noted in cosmetic chemicals, mining chemicals, oilfield chemicals, and specialties.
The overall specialty chemicals volume index was off 0.7% year-over-year (Y/Y) on a 3MMA basis. The index stood at 105.2% of its average 2012 levels. The downturn in the oil and gas sector affected headline volumes and weakness spread to other segments as well. Year-earlier comparisons have been negative since second quarter 2015. Lately, the year-earlier declines have been moderating. On a Y/Y basis, there were gains among 16 market and functional specialty chemical segments.
Specialty chemicals differ from commodity chemicals. They may only have one or two uses, while commodities may have multiple or different applications for each chemical. Commodity chemicals make up most of the production volume in the global marketplace, while specialty chemicals make up most of the diversity in commerce at any given time, and are relatively high value with greater market growth rates.
“This data is the only timely source of market trends for twenty-eight market and functional specialty chemical segments,” ACC said in a press release. “Chemistry directly touches over 96% of all manufactured goods, and trends in these specialty chemical segments provide a detailed view of trends in manufacturing. The data also sheds light on how various consumer end-use markets are performing compared to others in the marketplace.”
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