Data collected and tabulated by the American Chemistry Council (ACC) show that due to growth in China, global chemicals production rose by 0.6% in June, an improvement from the 0.5% decline in May. Production has been declining throughout this year, with the last monthly gain occurring in December 2019. During June, chemical production fell in major regions except Asia-Pacific. Headline global production was off 7.2% year-over-year (Y/Y) on a three-month moving average (3MMA) basis and was off 7.4% from the peak December level. Global output stood at 109.8% of its average 2012 levels.
During June, global capacity was stable and was up 2.6% Y/Y. With improving production, capacity utilization in the global chemical industry increased by 0.5 points to 75.3%. This is down from 83.2% last June and below the long-term (1987-2017) average of 86.5%.