The Specialty Chemicals Market Volume Index, a new tool created by the American Chemistry Council (ACC), ends the second quarter on a soft note, falling 0.3% on a three-month moving average basis (3MMA) in June from the previous month. This follows steady declines since December as weakness in oilfield chemicals and a few other segments weighed on overall volumes. Of the twenty-eight specialty chemical segments included in the index, 13 expanded in June, 14 declined and one was flat.
The overall specialty chemicals volume index was up only 0.1% year-over-year (Y/Y) also on a 3MMA basis. Year-earlier comparisons were generally in the 4% to 6.8% range during 2012-2014. But, since February of this year they have been below that range as the downturn in the oil and gas sectors affected headline volumes. On a Y/Y basis, gains are fairly widespread among most market and functional specialty chemical segments and, in some cases, they are improving. Compared to last year, June volumes were up in 21 segments and down in seven segments. That said the year-earlier comparisons have been moderating.
This data is the only timely source of market trends for 28 market and functional specialty chemical segments, according to ACC. Chemistry directly touches over 96% of all manufactured goods, and trends in these specialty chemical segments provide a detailed view of trends in manufacturing. The data also sheds light on how various consumer end-use markets are performing compared to others in the marketplace.
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