The Chemical Business Association (CBA), has released results from its latest quarterly supply chain survey. Circulated amongst members, the survey contains feedback from businesses including manufacturers and distributors from throughout the chemical supply chain and wider chemical industry.
Results, for the third quarter of 2024, indicate some evidence of ‘stabilisation’ and limited levels of improvement throughout the chemical supply chain, though serious issues do remain.
Half of all those who responded claimed order books and future sales prospects were the same as the previous three months, whilst 55% said their current sales have not changed since Q2 2024.
While the results generally indicate a flat market, there was a marginal 5-10% decline since Q2 in the number of respondents who expected improvements across these categories, both in terms of comparison to the previous quarter and predictions for the future.
They do, however, represent a significant improvement over the same period in 2023, particularly pertaining to current sales figures, with the latest survey showing 20% of respondents report current sales have improved since the previous quarter, compared with only 9% in Q3 2023.
Tim Doggett, Chemical Business Association’s CEO says: ‘The latest survey, whilst mildly encouraging, as it does show some signs of stability and very limited improvements, does highlight the impact and effects European, also Global, macro-economic events can have on the chemical supply chain and indeed the wider chemical industry not to mention economy.’
