The American Chemistry Council (ACC) has cited data collected from the US Federal Reserve that states production by the chemical industry in the US increased by 0.6 percent in July. Not including pharmaceuticals, chemical production rose 0.7 percent.
One of the reasons behind the increase is the 2.5 percent gain in the production of specialty chemicals in July. The ACC has reported that the strength was noted in production of adhesives and sealants, coatings and specialty sealants. Compared to last year at the same time, overall production of chemicals was up 1.2 percent on a three-month-moving-average basis.
Other details in the report show that capital investment by the chemical industry and other related manufacturing industries related to shale gas in the US continue to rise. The ACC’s current list of chemical industry projects contains 196 projects, representing a total cumulative investment of USD $123.8 billion.