12 December 2013 12:10 [Source: ICIS news]
LONDON (ICIS)--Chemicals production in Germany is expected to grow by 2.0% in 2014 with sales up 1.5% to €191bn ($262bn), Germany’s chemicals trade group, the VCI, said on Thursday.
“There will be an upward development – but a slow one,” said VCI president Karl-Ludwig Kley. The association thinks the global economy has passed through the trough and most VCI member companies believe that business is going to pick up. “We are cautiously optimistic,” said Kley.
VCI data show that Germany’s chemicals production excluding pharmaceuticals was up 1.0% in 2013, or 1.5% if the output of this sub-sector is included. Sales of the sector overall, at €187.7bn were up 0.5%, but foreign sales were stagnant at €113bn.
Capacity utilisation was 84% overall, which Kley described as “quite good”. The only drop in production in 2013 was for basic chemicals.
Petrochemicals output was down 1.5% and the production of industrial gases, fertilizers and other inorganic base chemicals down 1.5% also. “Polymers were the positive exception among basic chemicals,” Kley noted, with a production increase of 3.5%.
Fine and specialty chemicals production in Germany in 2013 was up 1.5%, the production of consumer chemicals up 3% and pharmaceuticals production up 3%, the VCI said.
($1 = €0.73)
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