Specialty chemical market volumes in the U.S. rose 0.6% in May, according to the latest Weekly Chemistry and Economic Report from the American Chemistry Council (ACC; Washington, D.C.; www.americanchemistry.com). The May gain follows a 0.1% rise in April and a 1.1% rise in March.
Of the 28 specialty market segments monitored by ACC, 20 expanded in May, ACC said. The total was up from 13 segments expanding in April. The remaining segments saw seven decline and one remained flat.
The ACC report said that the segments experiencing gains of 1.0% or greater in May included the following: antioxidants, catalysts, cosmetic additives, lubricant additives, mining chemicals, oilfield chemicals, plastic additives, plasticizers, plastic compounding and rubber processing chemicals. Smaller monthly gains occurred in market volumes for biocides, corrosion inhibitors, flavors and fragrances, industrial and institutional cleaners, pigments and water management chemicals, the ACC report noted.
In assessing the week’s data for the overall economy, ACC said many indicators, including ACC’s Chemical Activity Barometer (CAB) point to positive growth in the second quarter and second half of the year, but durable goods orders were disappointing and the numbers for first quarter gross domestic product (GDP) were revised downward.