The China Drying Network Chemical & Engineering News published an article that looks at the development of the world chemical industry in 2013.
The year 2010 was a year of nostalgia for the global chemical industry. When the global chemical industry grew rapidly, the output of the US chemical industry increased by 5% and Europe increased by 10%. However, since 2010, the production of chemical products in the two largest chemical markets in the United States and Europe has dropped significantly. According to the data of the American Chemical Industry Council, in the United States, the chemical industry in the United States will grow moderately in 2013, and is expected to increase by 1.9%, which is slightly better than the 1.5% increase in 2012; the European Chemical Industry Council predicts that in 2013, European chemicals production. It will increase by 0.5%, while the 2012 forecast is a decrease of 2.0%.
After 2010, the global chemical industry reduced its inventory and lowered its operating rate, causing a depression. Moreover, after 2010, the global economic downturn further weakened the growth of the chemical industry in advanced economies. In 2012, the growth rate of the chemical industry in the developing economies of Latin America and Asia also started to slow down, the demand declined, and the number of developed countries further reduced. Overseas sales of chemical products in the economy. It is expected that the demand of developing economies will rebound in 2013, but it is still insufficient to support a significant recovery of chemical production in advanced economies. For example, Brazil's economic growth in 2013 will reach 4.0%, higher than 2012, but it is still significantly lower than the 7.5% growth rate in 2010. Similarly, China's economic growth in 2013 is expected to reach 8.1%, but it is still below the double-digit economic growth rate in 2010.
The American Chemical Industry Council predicts that in 2013 the global chemical industry (excluding pharmaceuticals) production is expected to increase by 3.4%, which is significantly higher than the 1.1% in 2012. High-growth emerging economies remain the main driver of global chemical demand growth. In 2012, the growth rate of demand for chemicals in emerging economies reached 4.9%, and it is expected that the demand growth in 2013 and 2014 will reach 6.8% and 7.6% respectively. After experiencing a decline of 1% in 2012, the demand for chemicals in developed countries will resume its upward trend in the next 2 years. It is expected that it will increase by 1.8% in 2013 and 3.1% in 2014.
Chemical production in 2013 also has several bright spots worth looking forward to: the United States benefits from low-cost natural gas production, its fuel and chemical product production can maintain lower costs; the recent US fiscal cliff does not seem to deteriorate the United States industrial production growth expectations. In addition, the growth of global fine chemicals and pharmaceutical chemicals will remain optimistic in 2013, and the growth of global specialty chemicals may reach 3.1%. However, Europe is still in the shadow of the debt crisis and there are many uncertainties in chemical production.
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