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August 25, 2017 12:00 AM

EU chemicals industry registers growth in H1 2017

Shahrzad Pourriahi
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    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.”

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