The American Chemistry Council expects US chemical production to grow 6.0% this year, driven by the economic recovery and exports, and to rise 4.0% in 2011. Excluding pharmaceuticals, output is forecast to grow 6.8% in 2010. The fastest-growing sector this year will be bulk petrochemicals and organics, with output up 10.7%. Basic chemical production is forecast to grow 8.8%. US production of agricultural chemicals, pharmaceuticals and specialties is expected to rise 7.0%, 4.7% and 2.4%, respectively. Capacity utilization is forecast to be 76.2% this year and 79.3% next year. In 2010, capital spending will increase 1.3% to $20 billion, before jumping 14.8% next year. Globally, chemical production is forecast to grow 7.2% in 2010 and 5.0% in 2011.

Source: ICIS News