The EU chemical industry’s output decreased after the first months of the COVID19 pandemic

07.17.2020

The chemical industry is one of the pillars of the European economy. The industry has been hit hard by the COVID-19 pandemic. The report of the European Chemical Industry Council (CEFIC) provides performance for the chemical industry in the first quarter of 2020, in particular, the dynamics of industrial production, sales of goods, foreign trade.

Chemical output in the EU from January-April 2020 dropped by 3.4% compared to the previous year’s level (January-April 2019), following the COVID19 outbreak in Europe.
It is too early to establish the exact impact of the pandemic on the chemical output for 2020; the forecast will depend on the length and severity of the COVID19 crisis. In the best-case scenario, output is expected to start to grow modestly in 2021, unless a second wave of pandemic hits the EU in the second half of 2020. In the latter case, output is likely to register a second drop in 2021. In both cases, many quarters of growth will be needed to reach the pre-COVID19 output levels.
While overall production has declined, some sectors of the chemical industry providing for essential supply chains during the COVID19 outbreak have remained stable or posted growth in the first half of 2020, particularly those producing essential supplies such as disinfectants, diagnostic tests, ventilators, protective masks, gloves and gowns, as well as Intensive Care Unit medicines.
Release date
07.09.2020
Source
Analytics on topic
Article
11.18.2021
The Future of the EU Automotive Sector

This study provides an independent overview of the automotive industrial landscape in the EU. Specifically, the study assesses green and digital trends currently reshaping the automotive sector and provides recommendations considering the adequacy and consistency of ongoing and future EU actions.

Report
09.16.2021
Report
09.16.2021
Trade between Germany and China in 2020: the structure of German exports and prospects for modal shift to rail
In 2020, China became the main trading partner of Germany and the EU. The German economy is the strongest in Europe, and China is the driver of global economic growth. Therefore, the ties between Germany and China are of particular importance for the development of the Eurasian railway route.