Chemicals production in the EU increased by 3.7% during the first eight months of 2017, compared to the same period in 2016, according to the latest figures from the European Chemical Industry Council (Cefic).
Production, Cefic said 15 Nov, increased in most chemical subsectors, with “significant” increases in crop protection, basic inorganics, dyes and pigments, polymers and consumer chemicals.
This is while the specialty segment saw less growth.
During the eight months to the end of August, prices of chemicals rose 5.3%, above the level of the previous year, Cefic said.
Most sectors saw price increases, with petrochemicals posting stronger increases, led by paints and crop protection, each posting a price increase of approximately 1%.
The prices of consumer chemical products rose 0.6%.
According to Cefic figures, the momentum ended in the summer as prices fell 1.1% during July and August, compared to May and June 2017.
Capacity utilization rates remained high at 83.8%, which is 3% above the long-term average.
“The EU’s capacity is close to its peak level over the years (2008-2017),” Cefic said, adding that the situation “varied considerably” from one EU country to another.
While Poland has already peaked and Belgium posted its highest capacity utilization rate in the third quarter of 2017, the UK, Spain and Austria are below their peak.
Italy, Germany, France and the Netherlands only need 2-3% additional capacity to “catch up,” added Cefic.
