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...- March PE expectations in Turkey weighed by new capacities, cooling demand
- PP prices hit 4-year low in China as demand remains minimal
- Taiwanese major’s March PVC offers to Asia up despite virus fears
- Virus-impacted demand inflicts toll on Vietnam's PE market
- HDPE fails to track firmer trend of LD, LLDPE in Europe
- China’s ABS market on soft path dragged by subdued demand
- Softening trend prevails in SEA PP market as virus fears dampen sentiment
- Chinese producers cut PET offers further amid coronavirus outbreak
- Oil and petchem companies’ earnings hit by falling margins in 2019
- Will February PP hikes prove workable in Europe?
