The future of the European chemical industry
The European chemical industry finds itself at a crossroads in 2024, grappling with a perfect storm of challenges that have significantly impacted its landscape. Europe faced a severe setback in 2023 as demand dwindled across major end-use sectors. Rising energy and raw material costs, exacerbated by the Russia-Ukraine conflict, compounded the industry’s struggles. The recessionary impact of escalating interest rates and inflation further intensified the challenges faced by chemical manufacturers in the region.
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