According to hydrocarbon processing on April 1, Washington, the data collected and recorded by the American Chemicals Commission (ACC) shows that the growth rate of global chemical production in February this year is still weak. The ACC's Global Chemical Production Regional Index (Global CPRI) shows that global chemical production fell by 0.8% in February, compared with a 0.7% decline in January and a 0.3% increase in December last year. Please note that all data is based on a three-month moving average (3 MMA).
In February, global chemical production increased in North America, Europe, Africa, and the Middle East, while Latin America and the Asia Pacific region experienced a decline. In February, global CPRI increased by 2 percentage points year-on-year, reaching 114.3% of the 2012 average.
In February, the capacity utilization rate of the global chemical industry fell by 0.8 percentage points to 84.5%. This level of utilization was lower than 85.1% in February of last year and was also below the average of 86.5% from 1987 to 2017.