The global economy recovers, and the chemical industry's capacity utilization rate has reached 87.5%

According to news on March 21, according to data collected and compiled by the American Chemistry Council (ACC), global chemical production increased by 1.4% in January, slightly lower than in December, continuing the global recovery that began in June.

In January, the output of chemical products increased in all regions. Overall global production increased by 9.5% year-on-year on a 3-month moving average. In January, global production capacity increased by 0.1%, a year-on-year increase of 2.0%. With the increase in production, the global chemical industry's capacity utilization rate rose by 1.1 percentage points to 87.5%. This is much higher than the level in January last year and also higher than the long-term average of 86.3% (1987-2019). In the chemical industry sector, the results in January were positive, with gains in all sectors. Taking into account the comparison of the same period last year, the output of all departments has increased.

According to MRC data, the U.S. Chemical Production Regional Index (U.S. CPRI) rose by 0.8% in January of this year after rising 1.4% and 1.1% in December and November last year. In January, chemical production increased in almost all regions. The Gulf Coast region saw the biggest gains, while the Midwest, Southeast, Ohio Valley, and Northeast regions saw smaller gains. Production was flat in the mid-Atlantic region, while production on the west coast declined slightly.

As previously notified by MRC, high-density polyethylene (LDPE) sales in the United States and Canada in January 2021 increased by 3.8% compared to the same period last year. Over the same period, LDPE production increased by 5.2%. Exports fell by 0.7%, but total sales increased by 2.3%.

At the same time, high-density polyethylene (HDPE) sales in the United States and Canada in January 2021 increased by 5% year-on-year. During the same period, HDPE production increased by 1%. With the continuous growth of US manufacturing activities, the demand for durable consumer goods has been strong since the second half of 2020, and domestic demand for HDPE has increased in recent months.