The Specialty Chemicals Market Volume Index, a new tool created by the American Chemistry Council (ACC), began the third quarter on a stable note. This follows steady monthly declines since December as weakness in oilfield chemicals and a few other segments weighed on overall volumes.
Of the 28 specialty chemical segments included in the index, 16 expanded in July, nine declined, and three were flat.
The overall specialty chemicals volume index was off 0.1 percent year-over-year (Y/Y) on a three-month moving average (3MMA) basis. Year-earlier comparisons were generally in the 4.0 to 6.8 percent range during 2012-2014, but ongoing weakness in the oil and gas sectors continue to affect headline volumes. Still, on a Y/Y basis, gains are fairly widespread among most market and functional specialty chemical segments. Compared to last year, July volumes were up in twenty-one segments and down in seven segments, though year-earlier comparisons have been moderating.
Specialty chemicals are materials manufactured on the basis of the unique performance or function and provide a wide variety of effects on which many other sectors and end-use products rely. They can be individual molecules or mixtures of molecules, known as formulations. The physical and chemical characteristics of the single molecule or mixtures, along with the composition of the mixtures, influence the performance end product. Individual market sectors that rely on such products include automobile, aerospace, agriculture, cosmetics, and food, among others.
Specialty chemicals differ from commodity chemicals. They may only have one or two uses, while commodities may have multiple or different applications for each chemical. Commodity chemicals make up most of the production volume in the global marketplace, while specialty chemicals make up most of the diversity in commerce at any given time, and are relatively high value with greater market growth rates. Some areas where specialty chemicals are used include adhesives, cleaning materials, cosmetic additives, construction materials, food additives, fragrances, and detergents
This data is the only timely source of market trends for 28 market and functional specialty chemical segments. Chemistry directly touches over 96 percent of all manufactured goods, and trends in these specialty chemical segments provide a detailed view of trends in manufacturing. The data also sheds light on how various consumer end-use markets are performing compared to others in the marketplace.
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