Global chemical production down 4.4% in November

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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. He also serves as a Global Expert for the World Economic Forum. The aim of this blog is to share ideas about the influences that may shape the chemical industry and the global economy over the next 12 – 18 months. It looks behind today’s headlines, to understand what may happen next in critical areas such as oil prices, China and Emerging Markets, currencies, autos, housing, economic growth and the environment. 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.

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