Lack of output growth leaves industry 6.4% adrift of peak in 2007
Europe’s chemical sector did not grow at all in 2013, according to the latest chemical trends report from the European Chemical Industry Council (Cefic). This leaves industry’s output 6.4% below its peak back in 2007.
The latest figures are better than Cefic predicted in September 2013, however. Back then it expected output in 2013 to contract by 0.5%. The 2013 figures were buoyed by four consecutive months of chemical production growth at the end of the year.
High points for the European chemical industry in the December figures were an 8.8% increase in production of basic inorganics and polymers, while petrochemicals contracted 7.1%.