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For The Chemical Industry

It was another year of restructuring in the worldwide chemical industry. Companies were acquired and disappeared. Others were born as firms spun off unwanted operations. Yet again, chemical companies tried to change their portfolio focus. The result was a changing corporate landscape as companies tried to cope with a changing chemical environment.

Financially, the worldwide chemical industry improved. Production was up slightly in most countries as demand for chemicals improved. But at the same time, costs increased. Despite recovery around the world, the chemical industry still has not reached growth levels witnessed just a few years ago. 

All these things are reflected in the data for this year's Facts & Figures for the Chemical Industry. 

The compilation of the vast amounts of information from around the world for this special report has largely been the work of Assistant Managing Editor William J. Stock, Senior Editor Patricia Layman Short (London), Senior Editors Michael McCoy and Marc S. Reisch (Northeast News Bureau), Houston Bureau Head Ann M. Thayer, and Asia-Pacific Bureau Head Jean-François Tremblay (Hong-Kong).

The following links are PDF files.

Production
More chemical product sectors had advances than declines, and overall output rose 2%. Industrial chemicals and synthetics jumped 5% after a 2% decline in 1998. Agricultural chemicals, which had 5% growth in 1998, slipped to just 1% growth last year.

Finances
Despite increasing demand as the year progressed, rising feedstock prices put pressure on the bottom line at many chemical companies. Imports of chemicals also cut in-to shipments by U.S. chemical producers Pages 57-59, 60-65, 66, 67-70, and 71

Employment
Employment fell after two years of increases. The number of production workers also dropped, which led to a modest boost in productivity. Women made up 32% of the chemical workforce, unchanged from the year before.

Foreign Trade
Worldwide chemical trade increased 7% last year. But in the U.S., imports increased more than three times faster than exports, driving the once mighty chemical trade surplus down another 33% after a 28% decline in 1998.

Foreign Chemical Industry
Growth continued around the world, especially in Europe, helped by currency valuations and a better economy, and in Asia-Pacific, whichis still recovering from economic crises. Export-oriented Canada's chemical industry also showed improvement over 1998.