Modest Economic Growth Expected For The EU27 Chemicals Industry
Cefic, the European Chemical Industry Council new data expects EU27 chemical output to grow by 2.5% in 2022, following growth of around 6% in 2021.
Commenting on the outlook, Marco Mensink, Cefic Director General, said:
“The recovery in 2021 has been better than expected, bringing the industry back on track. Facing the huge transition investments expected from the industry in the next decades, a solid economic basis is very important. It will be crucial for the decision to not only develop new chemistries and technologies in general, but to invest these new sources for growth also in Europe. The 2022 outlook is positive but moderate, overseeing the many uncertainties Europe and the industry faces today. The chemical industry is however extremely resilient as shown during the COVID crisis. With the right policy choices made in the next two years, the chemical industry, as part of all strategic value chains, will have a key role to play in Europe. “
Read full Cefic article here.
“The recovery in 2021 has been better than expected, bringing the industry back on track. Facing the huge transition investments expected from the industry in the next decades, a solid economic basis is very important. It will be crucial for the decision to not only develop new chemistries and technologies in general, but to invest these new sources for growth also in Europe. The 2022 outlook is positive but moderate, overseeing the many uncertainties Europe and the industry faces today. The chemical industry is however extremely resilient as shown during the COVID crisis. With the right policy choices made in the next two years, the chemical industry, as part of all strategic value chains, will have a key role to play in Europe. “
Read full Cefic article here.
