ACC: US specialty chemicals markets end fourth quarter on good note
WASHINGTON – The American Chemistry Council (ACC) reported that US specialty chemicals market volumes rose 0.3% in December. This follows an upwardly revised 0.5% gain in November. 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 we monitor, 17 expanded in December, 10 markets experienced decline and one was flat. During December, large gains (1.0% and over) were noted only in oilfield chemicals.
The overall specialty chemicals volume index was stable on a year-over-year (Y/Y) 3MMA basis. The index stood at 105.4% of its average 2012 levels. This is equivalent to 3.30 MMt. The downturn in the oil and gas sector affected headline volumes and weakness spread to other segments. Year-earlier comparisons were negative since second quarter 2015 but are now stable. On a Y/Y basis, there were gains among nineteen market and functional specialty chemical segments.
Specialty chemicals are materials manufactured on the basis of the unique performance or function and provide a wide variety of effects on which many other sectors and end-use products rely. They can be individual molecules or mixtures of molecules, known as formulations. The physical and chemical characteristics of the single molecule or mixtures along with the composition of the mixtures influence the performance end product. Individual market sectors that rely on such products include automobile, aerospace, agriculture, cosmetics and food, among others.
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