U.S. specialty chemicals market volumes rose 0.6% in June, the same gain as in May, leaving volumes off 3.7% from pre-coronavirus levels, the American Chemistry Council (ACC) reports. Of the 28 specialty chemical segments that ACC monitors, 15 expanded in June, off from 19 in May. Twelve segments declined in June, while one was neutral. On a sequential basis, diffusion was 55%, down from 70% in May. During June, seven segments showed gains of 1.0% or more.
During June, overall specialty chemicals volumes were up 11.3% on a year-over-year (Y/Y) basis from the depressed levels of last year. Total volumes stood at 102.3% of their average 2017 levels in June, equivalent to 7.51 billion pounds (3.41 million metric tons). On a year-earlier basis, 27 chemical segments showed gains and diffusion was 96% in June, up from 93% in May.
Since last year, the recovery has largely been V-shaped. At the mid-point of the year, volumes were up 2.7% year-to-date. If the economic recovery continues, 2021 should be a good year for specialty chemicals, according to ACC.
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