The American Chemistry Council’s Global Chemical Production Regional Index (Global CPRI) shows that the first quarter ended on a soft note, with headline global production slipping back 0.1% in March, as measured on a three-month moving average (3MMA) basis. This follows a revised 0.1% drop in February and a revised 0.4% gain in January. During March, chemical production decreased in every region except Africa & the Middle East and Asia-Pacific. The Global CPRI was up 1.3% year-over-year (Y/Y) on a 3MMA basis and stood at 108.9% of its average 2012 levels in March.
Results were mixed on a product basis during March, with gains in agricultural chemicals, bulk petrochemicals & organics, and plastic resins. Considering Y/Y comparisons, growth was strongest in plastic resins followed by coatings and inorganic chemicals.