Brussels –EU chemicals production has grown significantly this year, while still remaining below pre-crisis level, according to the latest figures released by industry body Cefic.
In a 24 Aug report, Cefic said chemicals output within the EU was up by 3.1% during first half of 2017, compared to the same period last year.
Production rose in most chemicals sub-sectors, with significant rises in crop protection, basic inorganics, polymers and consumer chemicals. Speciality chemicals registered “modest” growth.
Prices for chemicals were up 5.7% during the first half as well, Cefic noted.
Additionally, higher volumes and a positive trend in producer prices led to an up-trend in pricing.
Domestic sales within the EU single market rose 15% year-on-year to €163.6 billion, while total sales grew 8% to €219.2 billion during the first five months of 2017.
Consumption also saw a year-on-year rise of 8.9% at €201.3 billion within first five months.
Citing an EU Commission business survey, Cefic said capacity utilisation in the EU chemicals sector reached 84.1% in the second quarter of 2017, showing growth for the fifth consecutive quarter.
The survey also suggests that confidence among chemicals makers continues to improve/ The business situation, it said, “became more favourable in the second quarter of 2017 compared to the first quarter of the same year.”