In 2023, raw materials suppliers launched new products to help formulate the latest adhesives and sealants that meet the evolving needs of customers.
While experiencing significant challenges over the past four years, the chemical industry is showing signs of stabilization. In its most recently released report, the American Chemistry Council’s (ACC) Global Chemical Production Regional Index states that production was trending higher in December by 0.1%, with China leading in terms of gains. The U.S. Chemical Production Regional Index rose 0.4% in December after seeing a 0.3% decline in November. The index saw global output increasing in all segments, while basic chemicals and specialty materials posted the highest gains.
“In the U.S., chemical output rose in all regions except the Gulf Coast. There were signs of recovery in the output volumes of agricultural and coatings and other specialty chemicals that offset ongoing weakness in basic industrial chemicals and synthetic materials,” said Martha Moore, ACC’s chief economist.