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ACC: Supply chain constraints still exist

 Last Update: 2021-11-13
 Source: Internet
 Author: User

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Recently, at the annual meeting of the American Chemical Industry Council (ACC) in Colorado, participants expressed optimism about the near-term prospects of the chemical industry, but supply chain constraints are still a major challenge
.

Dow Chairman and Chief Executive Officer Jim Fettering, the current chairman of the ACC board of directors, said that tight supply has provided the impetus for US chemical companies to increase prices and expand profits, but they will inhibit sales growth this year
.

On the supply side, the freezing disasters in Texas and the hurricanes in Louisiana have the greatest impact on the chemical industry this year

Peter Huntsman, Chairman and CEO of Huntsman, said that the chemical industry's promotion of integration, centralization and scale has also increased the pressure on the supply chain
.

"It's not just a matter of weather

ACC predicts that despite supply headwinds, the US chemical industry's output may increase by 1.
3% in 2021
.

Except for agrochemicals, all major sub-sectors will grow

In addition, ACC predicts that US GDP will grow by 5.

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