U.S. specialty chemical market volumes fell 0.6% in February after a 1.0 decline in January, continuing the soft start to 2015, according to the latest Weekly Chemistry and Economic Report from the American Chemistry Council (ACC; Washington, D.C.; www.americanchemistry.com).
“The adverse weather has played a role, but weakness in oilfield chemicals and other segments played a role,” the ACC report says. Fifteen of the 28 specialty chemical segments monitored by ACC declined in February, 10 expanded and three were flat, ACC noted.
The segments experiencing large (1.0% and above) gains in February included adhesives & sealants, paint additives and textile specialties, the report says. Other segments experiencing modest growth included biocides, catalysts, construction chemicals, dyes, electronic chemicals, flame retardants and pigments, the report added.
Meanwhile, U.S. production of major plastic resins, totaling 6.4 billion pounds in January, was down compared to a year ago, the ACC report said.
For the wider economy, ACC characterized the week’s economic reports as “mixed” once again, with manufacturing output and housing starts down, but building permits up.