Cefic’s April Chemical Trends Report Is Out!

Re-Stocking brings some relief but no serious growth in demand

Economic data are not painting a rosy picture. The EU27 manufacturing output for the first two months of 2024, is even 6% lower than the same period last year. Changes for the better remain bleak, with gas prices at least 50% above the pre-crisis level (2014-2019), high feedstock costs, and high trade dependency levels. Recent analysis shows that 31% of EU27 chemicals consumption in 2023 is attributable to imports from non-EU27 suppliers. In 2013, this number was at 22%.

While the EU27 chemicals production grew by less than 0.5% during the first two months of 2024 compared to Jan-Feb 2023, China’s share in the global chemicals market continues to grow. With 44% of the world market share, China will continue to hold the top ranking in sales, a position in bygone decades firmly held by Europe.

Europe needs to change this trend, and we need to do so fast. Our Antwerp Declaration for a European Industrial Deal provides a list of solutions.

By clicking here you can find all the past editions of Cefic’s Chemical Monthly Report.