Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 17 March.

INSIGHT: European TiO2 operations at risk, but China may not be the answer
While energy costs in Europe are more relaxed compared with 2022 peaks, the TiO2 market and the wider chemical industry in Europe are still facing residual economic and demand headwinds. European production is at risk, while China/Asia capacity is increasing.

European Commission targets home-grown clean tech with net zero act
The European Commission on Thursday set out a challenge to decarbonisation technology stimulus frameworks in other regions, with plans to produce at least 40% of the equipment needed for net zero projects locally by 2030.

INSIGHT: Small nuclear gaining ground as power provider for industry and the grid
Small-scale nuclear fusion reactors could provide much needed power for the chemical industry as the transition is made towards cleaner and greener production technologies.

Oil demand tipped to reach record high in 2023 on China, air travel recovery – IEA
Global oil demand is set to reach record highs in 2023, spurred on by a surge in air travel and a recovery in demand from China post lockdown, according to the International Energy Agency (IEA) on Wednesday.

Wacker braces for tougher H1 as energy, war, recessionary pressures bite
Wacker Chemie is bracing for a more bearish 2023 as economic headwinds continue to bite, with a slowdown in demand noticeable since Q4 last year and despite a record financial performance in 2022, CEO Christian Hartel said on Tuesday.

European EDC spot prices rise for the first time since Q2 2022, demand outlook weak
European ethylene dichloride (EDC) spot prices rose on tight global availability and higher offers from overseas, although demand is expected to remain low through March according to market sources.