Cefic’s May Chemical Trends report is Out!

Slight improvement but orders remain below expectations and energy costs continue to weigh

After a 20-month spell in negative territory, the EU27 chemicals production increased for the third month in a row in April 2024. Yet, changes for the better remain bleak: with 0.6% production growth in Q1 2024 versus Q1 2023, it remains a weak start for the European chemical industry. Considering current levels, EU27 chemicals production would need to grow by 18% to reach the pre-COVID levels.

Latest analysis shows that the German chemical industry started  2024 better than expected, reaching its highest output level since July 2022.

The Industry is still suffering from a lack of orders and uncompetitive energy costs – with gas prices at least 50% above the pre-COVID levels (2014-2019) – and these factors will continue to weigh on the expected recovery for the European chemicals industry.

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