Chemistry industry one of largest in US at $801 billion revenue
WASHINGTON– According to the American Chemistry Council (ACC), the U.S. Chemical Production Regional Index (U.S. CPRI) was flat in April.
This following a 0.4 per cent gain in March, and a 0.1 per cent decline in Feb., as measured on a three-month moving average (3MMA).
In April, the Gulf Coast was the only region to post a small gain. Output declined slightly in the Northeast and all other regions were flat.
Also measured on a 3MMA basis, chemical production was mixed.
There were gains in the production output trend of fertilizers, dyes and pigments, chlor-alkali, other inorganic chemicals, industrial gases, plastic resins, pharmaceuticals and consumer products.
These gains were offset by declines in the output trend in organic chemicals, adhesives, coatings, other specialty chemicals, synthetic rubber, and manufactured fibers.
Nearly all manufactured goods are produced using chemistry in some form or another.
Thus, manufacturing activity is an important indicator for chemical production.
On a 3MMA basis, manufacturing activity was flat for a second month in April after edging higher by 0.1 per cent in Feb.
Production expanded in several chemistry-intensive manufacturing industries, including motor vehicles, machinery, electronics, petroleum refining, iron and steel, and plastic products.
Compared to April 2015, U.S. chemical production was ahead by 1.1 per cent on a year-over-year basis, a moderating trend.
Chemical production remained ahead of year ago levels in all regions, except the West Coast where production was flat relative to a year ago.
The chemistry industry is one of the largest industries in the United States, an $801 billion enterprise.
The manufacturing sector is the largest consumer of chemical products, and 96 percent of manufactured goods are touched by chemistry.