Business briefing for June 23

Trade group expects muted chemical growthThe US chemical industry was rebounding at the beginning of 2025, but uncertainty—largely over tariff policies—has soured the outlook for the full year, according to a midyear outlook from the American Chemistry Council (ACC), a trade group. “Pervasive uncertainty about trade policy and its potential impact has slowed economic activity in the U.S. and abroad,” the ACC says. “The lack of clarity makes it difficult for firms to make decisions, and as a result, orders, investment and hiring have been delayed as many firms adopt a ‘wait and see’ position.” The council projects that US chemical industry output will increase by 0.3% in 2025; the ACC’s last forecast, released in December, was 1.9% growth. In 2024, US chemical production rose only 0.4%. The ACC expects global chemical production to expand by 1.9% in 2025, a slowdown from the 4.0% increase posted in 2024.—ALEX TULLOTeknor Apex buys DanimerThe plastics formulation company Teknor Apex has purchased the biobased polymer producer Danimer Scientific, which declared bankruptcy in March. Danimer opened a plant in Winchester, Kentucky, in 2020 that makes the biodegradable polymer polyhydroxyalkanoate via a fermentation process. It also compounds polylactic acid polymers. Teknor plans to operate Danimer as a stand-alone business.—ALEX TULLOTosoh expanding chloroprene rubberThe Japanese specialty materials company Tosoh plans to build a $520 million chloroprene rubber plant at its complex in Yamaguchi Prefecture, Japan. The new facility will expand Tosoh’s capacity by 22,000 metric tons per year. Chloroprene rubber is used in automotive belts and