With a turnover of EUR 635 billion and 1.2 million people employed, the sector continues to supply essential materials to industries ranging from automotive to healthcare, underpinning daily life across the continent. However, the global landscape is shifting rapidly. Europe’s share of the world chemical market has declined to 13%, while China now accounts for 46% of global sales and has become the EU’s leading source of chemical imports.

Energy remains a critical concern. European gas prices are still three times higher than those in the US, putting pressure on competitiveness. At the same time, the sector faces weak demand, growing import pressure, and persistently low capacity utilisation – 9.5% below pre-crisis levels (2014-2019). While Europe remains a net exporter – thanks especially to high-value specialty chemicals – its trade surplus has not kept pace with global growth, and the region has lost ground compared to other major exporters.