Global chemical production down 4.4% in November


Global chemical production is now falling at an alarming rate, down over 4% in November, as core demand from housing/construction and auto markets collapses. Only the Middle East is now seeing positive growth year-on-year. As the chart shows (using ACC data):

N America is now down 12%
W Europe/C&E Europe are down over 6%
Asia-Pacific is down 1.6%
Latin America is down 0.1%

Meanwhile, the Middle East continues to show strong growth of 14%, as new advantaged-cost production comes on line. These volumes will increase the pain of falling demand, especially for those producers who depend on exports to maintain their operating rates.

About Paul Hodges

Paul Hodges is Chairman of International eChem, trusted commercial advisers to the global chemical industry. Paul is also an invited member of the World Economic Forum’s Global Agenda Council. The aim of this blog is to share ideas about the influences that may shape the chemical industry over the next 12 – 18 months. It will try to look behind today’s headlines, to understand what may happen next in important issues such as oil prices, economic growth and the environment. We may also have some fun, investigating a few of the more offbeat events that take place from time to time. Please do join me and share your thoughts. Between us, we will hopefully develop useful insights into the key factors that will drive the industry's future performance.

, , , , , ,

Leave a Reply