—World Chemical Outlook “It looks like a chancy year, with winners and losers in different areas as supply, demand, and politics shift” With each passing year, chemical executives must look back with increasing fondness at 2010, a year when chemical output rose 5% in the U.S. and 10% in Europe. Since then, growth in the two largest chemical markets has slowed to a crawl. The outlook is for more of the same in 2013. This year, U.S. chemical production is expected to grow by a modest 1.9%, not much better than the 1.5% increase in 2012, according to the American Chemistry Council, a trade group. The European Chemical Industry Council predicts that European chemical production will rise 0.5% in 2013, an anemic figure, although an improvement compared with the 2.0% contraction experienced in 2012.
by Business Department |
January 14, 2013