09.18.15
The Specialty Chemicals Market Volume Index, a new tool created by the American Chemistry Council (ACC) strengthened during the 3rd quarter, rising 0.3 percent on a three-month moving average (3MMA) basis in August after a 0.1 percent gain in July and a weak first half of the year.
The steady declines since December reflected ongoing weakness in oilfield chemicals and a few other segments that, combined, weighed on overall volumes.
Of the 28 specialty chemical segments included in the index, nineteen expanded in August, with plastic additives and electronic chemicals showing the greatest growth on a 3MMA basis. Seven segments declined led by lubricant additives. Both construction and foundry chemicals were flat.
The overall specialty chemicals volume index was off 0.5 percent year-over-year (Y/Y) also on a 3MMA basis. Year-earlier comparisons were generally in the 4.0 percent to 6.8 percent 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.
Still, on a Y/Y basis, gains are fairly widespread among most market and functional specialty chemical segments, and, in some cases, they are improving, said ACC in its report.
The steady declines since December reflected ongoing weakness in oilfield chemicals and a few other segments that, combined, weighed on overall volumes.
Of the 28 specialty chemical segments included in the index, nineteen expanded in August, with plastic additives and electronic chemicals showing the greatest growth on a 3MMA basis. Seven segments declined led by lubricant additives. Both construction and foundry chemicals were flat.
The overall specialty chemicals volume index was off 0.5 percent year-over-year (Y/Y) also on a 3MMA basis. Year-earlier comparisons were generally in the 4.0 percent to 6.8 percent 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.
Still, on a Y/Y basis, gains are fairly widespread among most market and functional specialty chemical segments, and, in some cases, they are improving, said ACC in its report.