Sector News

Cefic sees EU chemical output at highest level for eight years

July 13, 2017
Chemical Value Chain

Production of chemicals in the European Union rose by 2.4% through April 2017 compared with the corresponding period in 2016, to reach the highest level for eight years, according to the latest Cefic Chemical Trends Report. Output rose in most subsectors, led by plastics (up 8% year over year, YOY); dyes and pigments (3.7%); basic inorganics (3.3%); and cosmetics (1.9%). Production of specialty chemicals was muted, rising only 0.5% YOY.

The upward trend of prices accelerated at the beginning of the year and producer prices were above that of the previous year for the first time in four years. The persistent upward trend of producer prices, backed by a higher production volume, resulted in a clear rise in sale, Cefic says. The chemical business in the EU market is being driven by the positive development of industrial demand and construction, according to the trade association.

Overall EU chemical sales climbed by €9.5 billion ($10.9 billion) during first-quarter 2017 to reach a value of €131.7 billion, versus €122.2 billion through March 2016, or 7.8% YOY. Exports accounted for 40% of this additional sales revenue, according to Cefic. Domestic consumption of chemicals went up by 6.2% YOY, generating an additional value of €7.0 billion.

Domestic sales of chemicals in the European Union reached €92 billion during the first quarter of 2017, an increase of €5.6 billion, or 6.5% YOY. Exports of chemicals from the European Union reached a value of €39.7 billion during the first quarter of 2017, a rise of €3.9 billion compared with the first quarter of 2016, or 10.8% YOY. EU chemical imports rose by 5.2% YOY to reach €27.4 billion during the first quarter of this year.

The EU chemical trade surplus jumped by 26.8% during the first three months of 2017 to reach €12.3 billion, compared with €9.7 billion during the year-ago period. Export growth far outstripped import growth through March 2017, according to Cefic.

By Michael Ravenscroft

Source: Chemical Week

comments closed

Related News

May 15, 2022

New York’s EPR and packaging reduction bills lauded as game-changers in plastic pollution battle

Chemical Value Chain

The US State of New York is introducing two new bills to combat over-packaging, poor recycling rates and litter issues, including an Extended Producer Responsibility (EPR) program requiring companies such as McDonald’s and Amazon to pay for the cost of packaging disposal and recycling.

May 15, 2022

Borealis and Reclay launch entity focused on lightweight packaging 

Chemical Value Chain

The new organization’s mission is to redesign the critical steps of the plastics sorting and recycling system for post-consumer lightweight packaging (LWP) to speed up circularity, born from a need to meet the rising market demand for high-quality recyclates for use in high-end plastic applications.

May 15, 2022

Starbucks and Hubbub launch reusable packaging fund as COVID-19 diminishes consumer appetite

Chemical Value Chain

Starbucks and Hubbub have launched a £1 million (US$1.22 million) “Bring It Back Fund” to increase the uptake of reusable packaging in the F&B industry. The funding will go toward innovative ideas that make it easier for customers to use alternatives to single-use packaging by supporting pilot projects that help shift consumption habits.