EU chemicals volume down 10% versus 2005 levels

Chemical companies, Consumer demand, Economic growth

cefic sept09.jpg

The above chart, from Moncef Hadhri’s excellent monthly report from CEFIC (the European chemical industry association) provides an interesting snapshot of the state of the EU chemical industry.

On the positive side, it shows that recovery from the destocking period was well underway in June (the latest data available). Volume (green line), had risen 10% from November’s low of 82. And versus June 2008, volume is now down ‘only’ 12.4%, versus November’s 25% decline.

But on the negative side, EU volume is now down 18% versus the all-time peak of 110 seen at the end of 2007. Volume is also 10% below 2005’s average level of 100. This figure will clearly improve as restocking continues down the chain. But even if we get back to the 100 level, this will still mean the industry has effectively ‘lost’ 3 – 4 years of growth.


Current policies make downturns "more dangerous"


Some readers may remember the 2007 and 2008 reports from the Bank of Internation...

Learn more

Reported earnings forecast slow recovery when restocking ends


US corporate earnings were down a record 89% in Q1 versus the previous 12 months...

Learn more
More posts
Covid fears risk a Great Depression and major social unrest

Governments spent most of February/March ignoring my warnings here on the dangers posed by the Covid...

Chemical industry has key role in helping to create a more sustainable world

The chemical industry has a critical role to play in enabling the world to “build back better&...

The state of the global economy in 2020

Last Wednesday, I gave the opening presentation for the ICIS PET Conference and looked at whether th...

Reality dawns for business as No Deal Brexit approaches

I warned before the June 2016 Brexit referendum that Brexit was all about politics, and Boris Johnso...

Local circular plastics solutions to replace mega projects business model

NEW YORK (ICIS)–There will be a paradigm shift away from mega crackers producing massive volum...

Global chemical industry – key trends for success in today’s New Normal

The chemical industry is the best leading indicator for the global economy. On Friday, I had the pri...

Oil prices signal potential end to the V-shaped recovery myth

Oil prices have moved into another ‘flag shape’ – which previously provided critic...

Bankruptcies now the key risk as hopes for V-shaped recovery disappear

Governments, financial markets and central banks all originally assumed the Covid-19 pandemic would ...


Market Intelligence

ICIS provides market intelligence that help businesses in the energy, petrochemical and fertilizer industries.

Learn more


Across the globe, ICIS consultants provide detailed analysis and forecasting for the petrochemical, energy and fertilizer markets.

Learn more

Specialist Services

Find out more about how our specialist consulting services, events, conferences and training courses can help your teams.

Learn more

ICIS Insight

From our news service to our thought-leadership content, ICIS experts bring you the latest news and insight, when you need it.

Learn more