We build the future
Petrochemicals make a significant contribution to Europe’s economy and enable innovation in products that shape tomorrow’s world.
- The petrochemical industry directly employs more than 300,000 people in Europe.
- Indirectly it generates three to four times this number of jobs in user industries across Europe.
- Petrochemical producers contribute € 155,000,000,000 (€155bn) to the overall European GDP.
- The petrochemical industry responds to global challenges.
- Petrochemicals enable downstream industries to innovate and improve the quality of life by providing the necessary building blocks.
- They enhance product lifecycles and increase the durability, flexibility and convenience of products making materials more lightweight and efficient. Such innovations may be found in renewable energy, such as windmills and solar panels, insulation materials, healthcare, protection and safety, long lasting infrastructures used in construction and many more.
- The petrochemical industry innovates with local customers, universities and research and development institutions owing to their close geographic proximity.
- In petrochemical plants, crude oil and natural gas are transformed into high-value materials. These provide the foundation for success of almost all European industries enabling subsequent stages of production.
- 95% of all manufactured goods, like electronics, furniture, appliances, textiles, and many more, are based on petrochemicals.
- The petrochemical industry is driving a variety of cross-industry projects, which are a key part of the European innovation process to deliver products that meet the requirements of society.
- 80% of petrochemicals´ manufacturing costs are related to energy and to oil and gas as feedstock. Managing cost is key to economic success.
- Pricing is the main competitive differentiator among petrochemical producers when competing on the global markets. To secure future economic growth, prosperity and innovation, it is crucial that policy-makers -together with the petrochemical industry and its key stakeholders- support decisions that ensure the competitiveness of the industry in Europe.
- The European petrochemical producers are fully committed to complying with and exceeding the EU´s health, safety and environmental requirements.
- Maintaining the highest levels of health and safety standards, as well as resource efficiency and environmental protection are absolute priorities for all petrochemical producers in Europe.