Hurricane Harvey Triggers Market Slowdown

Sept. 27, 2017
The Specialty Chemicals Market Volume Index showed a pronounced slowdown in August, reflecting the effects of Hurricane Harvey.

The Specialty Chemicals Market Volume Index showed a pronounced slowdown in August, reflecting the effects of Hurricane Harvey, according to the American Chemistry Council (ACC). Growth in U.S. specialty chemicals market volumes expanded only 0.1% in August, following an upwardly revised 0.5% gain in July. All changes in the data are reported on a three-month moving average (3MMA) basis. Of the 28 specialty chemical segments we monitor, 15 expanded in August, nine markets experienced decline while four were stable. During August, large market volume gains (1.0% and over) occurred only in oilfield chemicals, according to ACC.

On an unadjusted basis, the August data showed a 0.8% decline and is reportedly illustrative of the effects that Hurricane Harvey had on markets. Only 11 segments expanded on this basis. 

The overall specialty chemicals volume index was up 5.1% on a year-over-year (Y/Y) 3MMA basis. The index stood at 109% of its average 2012 levels. This is equivalent to 7.54 billion pounds (3.42 million metric tons). On a Y/Y basis, there were gains among 20 market and functional specialty chemical segments. Compared to last year, volumes were down in seven segments.

For more information, visit: www.americanchemistry.com

Sponsored Recommendations

Many facilities handle dangerous processes and products on a daily basis. Keeping everything under control demands well-trained people working with the best equipment.
Enhance the training experience and increase retention by training hands-on in Emerson's Interactive Plant Environment. Build skills here so you have them where and when it matters...
See how Rosemount™ 625IR Fixed Gas Detector helps keep workers safe with ultra-fast response times to detect hydrocarbon gases before they can create dangerous situations.
The Micro Motion 4700 Coriolis Transmitter offers a compact C1D1 (Zone 1) housing. Bluetooth and Smart Meter Verification are available.