Growth of world chemicals industry expected to slow next year

December 14, 2000

After healthy growth in the first half of this year, the world chemical industry faltered, hurt by high oil prices and the consequent rise in energy and feedstock costs. The slowdown is likely to continue, resulting in slower-but still positive-growth next year, according to the current (Dec. 11) issue of Chemical & Engineering News, the weekly newsmagazine of the American Chemical Society, the world's largest scientific society.

In this year's annual "World Chemical Outlook" section, the magazine makes some predictions about what 2001 may have in store for the chemical industry. Specifically:According to the magazine, the multinational Organization for Economic Cooperation & Development projects chemical industry output in 2001 to grow by 2 percent in the United States, 3.6 percent in Europe, and 2.5 percent in Japan.

Although final figures for 2000 aren't yet available, the organization expects U.S. growth for the year to be 3 percent, Europe to be 4.5 percent, and Japan to be 2 percent.
-end-


American Chemical Society

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