Cefic latest Chemical Monthly Report is out!
H1 2023: Low Demand, High Energy Costs Stifle European Chemicals Market
Our latest monthly Chemical Trends Report is here! Each month, we make an analysis of the most relevant economic key findings relative to both the European chemical sector and to the business environment in general.
In this month edition:
Chemicals – Key findings
- Confidence of the EU27 chemicals industry weakened for the fourth month in a row
- European gas prices lower than in 2022, but still 4.3 times more expensive than in the USA
- EU27 chemicals production in H1-2023 was 12.3% down compared to H1-2022
- EU27 chemical selling prices were 10% lower than in June 2022
- The European chemical industry is losing competitiveness on global chemical markets
- High price pressure and weak demand contributed to poor chemicals sales
- The recovery is likely to be slow and sluggish
Business environment – Key findings
- The confidence of the EU industry as a whole is declining
- Global industrial production grew weakly in May 2023
- Automotive production is supported by easing supply chains constraints
- EU27 consumer confidence continued its recovery from the all-time low of September 2022
By clicking here you can find all the past editions of Cefic Chemical Monthly Report.