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Industry - Monthly Industry Briefings - Chemicals

Publisher Oxford Economics
Published Apr 05, 2022
Length 2 Pages
SKU # OFE17072485

Description

Industry - Monthly Industry Briefings - Chemicals

After posting a moderate dip in January according to revised production data, US chemicals output grew by 0.8% in February m/m. There were gains in all subsectors except for paints & coatings and agrochemicals. Total chemicals production was 14.6% higher relative a year ago when winter storm Uri hit the US Gulf Coast. Output prices were also up relative to January across all subsectors. We expect further increases in the coming months, driven by soaring oil prices and rising US Henry Hub gas prices following Russia's invasion of Ukraine. However, US producers should be less impacted than European chemicals firms which are heavily reliant on Russian gas imports as a feedstock and source of energy.

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2 Pages
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