Cefic cautious despite positive EU chemicals data

Comments Email

While business conditions in European chemicals makers have improved over much of this year, prospects for the coming months and total order-book levels are “less positive”, according to Cefic.

Citing EU Commission Business Survey data showing a 3.3% year-on-year rise in output during first seven months, Cefic said trading remained “satisfactory” with business confidence still above the long-term average.

Output rose in most chemicals sub-sectors, including polymers, increased significantly, the Brussels-based industry association also noted.

Chemicals prices lifted 5.4% during first seven months of the year. However, while the petrochemicals industry saw particularly strong price increases, dyes & pigments and polymers recorded less appreciable growth.

Sales revenue generated by EU companies in the EU single market increased 8.3% year-on-year to €183.6bn through June 2017, the association further reported.

Chemicals consumption – domestic sales + imports – came in at €237.8bn, 7.7% higher during first six months of 2017. This, said Cefic, reflected a positive development in the EU market.

EU chemicals exports reached the value of €79.7bn in the first half of 2017, up 8.5% of the same period last year, while imports into the EU increased 6.1% to €54.3bn.

Newsletters

Select from the list below to subscribe to customized Plastics News Europe e-mail news alerts. Check the options you wish to receive.