Re­fin­ing and Petro­chem­i­cals Mid­dle East brings you an up­date on some of the ma­jor changes tak­ing place in the down­stream sec­tor

Refining & Petrochemicals Middle East - - DOWNSTREAM TRENDS -

Global chem­i­cal in­dus­try ac­tiv­ity eased in Au­gust 2018, ac­cord­ing to data col­lected and tab­u­lated by the Amer­i­can Chem­istry Coun­cil (ACC). ACC’S Global Chem­i­cal Pro­duc­tion Re­gional In­dex (Global CPRI) shows that global chem­i­cals pro­duc­tion fell back 0.3% in Au­gust 2018. This fol­lows a 0.2% gain in July 2018, a strong sec­ond quar­ter, and a weak first quar­ter.

Dur­ing Au­gust 2018, pro­duc­tion de­clines were fairly steady across the board among re­gions but flat in North Amer­ica and ris­ing in Latin Amer­ica, Africa, and the Mid­dle East. Af­ter soft­ness ear­lier in the year, the Global CPRI was up only 0.5% year-overyear (Y/Y) and 1.2% year-to-date (YTD) on a 3MMA ba­sis and stood at 115.5% of its aver­age 2012 lev­els in Au­gust 2018.

Dur­ing Au­gust 2018, ca­pac­ity util­i­sa­tion in the global chem­i­cal in­dus­try eased 0.5 points to 83.9%. This is down from 85.9% last Au­gust and be­low the long-term (1987-2017) aver­age of 86.5%.

ACC’S Global CPRI mea­sures the pro­duc­tion vol­ume of the chem­i­cal in­dus­try for 33 key na­tions, sub­re­gions, and re­gions, all ag­gre­gated to the world to­tal. The in­dex is com­pa­ra­ble to the Fed­eral Re­serve Board (FRB) pro­duc­tion in­dices and fea­tures a sim­i­lar base year where 2012=100.

This in­dex is de­vel­oped from govern­ment in­dus­trial pro­duc­tion in­dices for chem­i­cals from over 65 na­tions ac­count­ing for about 98% of the to­tal global chem­i­cal in­dus­try. This data is the only timely source of mar­ket trends for the global chem­i­cal in­dus­try and are com­pa­ra­ble to the US CPRI data, a timely source of the US re­gional chem­i­cal pro­duc­tion.

Newspapers in English

Newspapers from UAE

© PressReader. All rights reserved.