Cefic expects modest growth of EU chemical industry in 2019
The European Chemical Industry Council, Cefic, to which Petrochemicals Europe belongs expects a modest 0,5% growth in 2019 compared to 2018 due to a decline in demand from the automotive industry in 2018, trade tensions between the US, China and Europe, and the uncertainty around Brexit.
As for as petrochemicals are concerned, their share in EU chemical sales increased by one point from 2016 to 2017 reaching 26.9%. The petrochemicals sector was the second largest exporting one (25% of total EU chemical exports) and the largest chemicals importer in 2017 (35%) in 2017.
For further information, please read the press release of Cefic and download the facts and figures.