European chemical output to rise 1% in 2016: Cefic
by ChemOrbis Editorial Team - content@chemorbis.com
According to data from the European Chemical Industry Council, Cefic, chemicals production in the European Union (EU) will grow 1% in 2016 following an expected growth rate of 0.5% for this year. Cefic reported that the EU chemical sector would see modest growth in domestic and global demand.
According to Cefic, 2015 was a challenging year for the European chemical industry because of declining buying appetite from key industries, competition from non-European firms and economic slowdowns in important export markets.
Hubert Mandery, Cefic Director General, said, “Although we are forecasting a slight uptick compared to the previous year, the conditions under which this modest growth took place – such as low oil prices and a favorable Euro/dollar exchange rate - cannot be expected to last indefinitely”.
According to Cefic, 2015 was a challenging year for the European chemical industry because of declining buying appetite from key industries, competition from non-European firms and economic slowdowns in important export markets.
Hubert Mandery, Cefic Director General, said, “Although we are forecasting a slight uptick compared to the previous year, the conditions under which this modest growth took place – such as low oil prices and a favorable Euro/dollar exchange rate - cannot be expected to last indefinitely”.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- Turkey’s PP, PE markets open post-Eid period with a cautious tone
- Global oil and petchem revenues hit by challenging market environment
- Tightness shapes expectations for Sept PVC pricing in Asia
- PP uptrend falters in Indonesia amid downstream resistance
- Will European PE market sustain uptrend following higher ethylene?
- COVID-19 resurgence weighs on polymer sentiment in Vietnam
- Stats: Turkey’s H1 polymer imports defy pandemic, hit all-time high
- Stats: China’s total PP, PE imports set a new record in H1 2020
- Lackluster demand outweighs tightness in Asian ABS markets
- Will costs drum up support for a 3rd-month-firming in Europe PET market?
