 "Sluggish growth for EU chemicals sector: Cefic")
European chemical output grew just 0.2 per cent during the first half of 2015 compared to the same period of 2014, while producer prices fell 4.8 per cent year-on-year, according to the latest Cefic Chemicals Trends Report, published by the European Chemical Industry Council (Cefic). Sales were down 4.2 per cent during the first five months of 2015, compared to the same period of 2014.
Latest monthly data show output growth of 1.1 per cent in June 2015 compared with June 2014, while EU chemicals prices plunged 2.9 per cent. Confidence in chemicals increased somewhat in the second quarter of 2015 compared to first quarter of the same year. The EU net trade surplus narrowed to Euro 18.1 billion during the first five months of 2015, down by Euro 370 million compared to the same period one year ago.
Hubert Mandery, director general, Cefic, said, “While the public focus is very much on China these days, we see the biggest change in chemicals business related to Russia. Our exports to Russia are down by 17 per cent, while imports increased by 8 per cent. For now Cefic maintains its EU chemical production growth forecast for 2015.”
Polymers output continued to slide in June 2015, down a significant 3 per cent compared with June 2014. Petrochemicals fell slightly by 0.9 per cent during the same period. The drop was partially offset by 5.3 per cent growth in output of basic inorganics. Specialty chemicals generated significant output growth (4.7 per cent). Consumer chemicals grew by 0.2 per cent in June.
“Overall, EU chemicals output crept ahead – just 1.1 per cent in June 2015 year-on-year – and for the first six months was up just 0.2 per cent compared to same period of 2014. After recovering somewhat in the first quarter of 2015, output decreased in the second quarter by 0.7 per cent compared to the previous quarter of the same year,” said Cefic in a press release.
The EU net trade surplus narrowed to Euro 18.1 billion during the first five months of 2015, down by Euro 370 million compared to the same period one year ago.
Latest monthly data show output growth of 1.1 per cent in June 2015 compared with June 2014, while EU chemicals prices plunged 2.9 per cent. Confidence in chemicals increased somewhat in the second quarter of 2015 compared to first quarter of the same year. The EU net trade surplus narrowed to Euro 18.1 billion during the first five months of 2015, down by Euro 370 million compared to the same period one year ago.
Hubert Mandery, director general, Cefic, said, “While the public focus is very much on China these days, we see the biggest change in chemicals business related to Russia. Our exports to Russia are down by 17 per cent, while imports increased by 8 per cent. For now Cefic maintains its EU chemical production growth forecast for 2015.”
Polymers output continued to slide in June 2015, down a significant 3 per cent compared with June 2014. Petrochemicals fell slightly by 0.9 per cent during the same period. The drop was partially offset by 5.3 per cent growth in output of basic inorganics. Specialty chemicals generated significant output growth (4.7 per cent). Consumer chemicals grew by 0.2 per cent in June.
“Overall, EU chemicals output crept ahead – just 1.1 per cent in June 2015 year-on-year – and for the first six months was up just 0.2 per cent compared to same period of 2014. After recovering somewhat in the first quarter of 2015, output decreased in the second quarter by 0.7 per cent compared to the previous quarter of the same year,” said Cefic in a press release.
The EU net trade surplus narrowed to Euro 18.1 billion during the first five months of 2015, down by Euro 370 million compared to the same period one year ago.
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