The European chemical industry continued to perform strongly in 2018. In the first two months of this year, production increased by 2.6% compared to the same period in 2017.
According to the latest chemical trend report released by the Cefic, most chemical production has increased, and the production of paints, coatings, and consumer chemicals has increased by 6%.
The special segment market grew by 2.7% year-on-year.
During this period, chemical prices soared by 3.0%, and there was a significant positive increase in prices for polymers and petrochemicals compared with other industries.
Cefic quoted a report from the Munich Economic Research Institute as saying that with the growth of global economic activity and export demand, the euro zone economy will continue to expand, and added that investment will be the main force behind this expansion.
Compared with 2016, European chemicals' imports in 2017 increased by 8.3% year-on-year to 106.7 billion euros, and all the chemical industry's import revenues increased.
Compared with 2016, the imports of specialty chemicals in 2017 increased by 11.2%, followed by polymers, which increased by 10.7%.
On the export side, the EU grew by 6.5% in 2017 to reach 155.4 billion euros, and all chemical industries have achieved growth.