The American Chemistry Council (ACC; Washington, D.C.; www.americanchemistry.com) reported that U.S. specialty chemicals market volumes ended the first quarter on a good note, increasing 0.4 percent in March after a 0.3 percent gain in February and a 0.1 percent gain in January. All changes in the data are reported on a three-month moving average (3MMA) basis. Of the 28 specialty chemical segments monitored by ACC, 18 expanded in March, 9 markets experienced decline and one featured no change. During March, large market volume gains (1.0 percent and over) occurred in cosmetic chemicals, foundry chemicals, and oilfield chemicals, ACC pointed out.
The overall specialty chemicals volume index was up 4.2 percent on a year-over-year (Y/Y) 3MMA basis. The index stood at 111.6 percent of its average 2012 levels. This is equivalent to 7.69 billion pounds (3.49 million metric tons). On a Y/Y basis, there were gains among twenty-one market and functional specialty chemical segments. Compared to last year, volumes were down in seven segments, according to the ACC data.
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.