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

October 2, 2022

Trinseo announces potential closure of Boehlen, Germany Styrene Plant

Chemical Value Chain

Trinseo (NYSE: TSE), a specialty material solutions provider, announced it has initiated an information and consultation process with the Works Council of Trinseo Deutschland GmbH regarding the potential closure of its styrene monomer production site in Boehlen, Germany.

October 2, 2022

Celeste Mastin appointed H.B. Fuller President and CEO, succeeding Jim Owens upon his retirement

Chemical Value Chain

H.B. Fuller Company announced that Celeste Mastin, Executive Vice President and Chief Operating Officer, will succeed Jim Owens as H.B. Fuller’s President and Chief Executive Officer, effective December 4, 2022. Upon assuming the role, Mastin will also join the Company’s Board of Directors, replacing Owens, who will be retiring.

October 2, 2022

LyondellBasell realigns executive team, forms circular and low-carbon solutions business

Chemical Value Chain

New LyondellBasell CEO Peter Vanacker, who joined the company from Neste in May, today named his senior executive team and outlined organizational changes, including creation of a circular and low-carbon solutions business. All changes will be effective 1 October.