Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 14 February.

Europe MX and PX chemical value chain braces for headwinds amid downstream closures and tariff threats
Downstream demand for mixed xylenes (MX) and paraxylene (PX) in Europe has been limited at the start of 2025, with permanent shutdowns and the threat of tariffs among the hurdles to a meaningful recovery.

Germany’s battered chemical industry holds its breath ahead of general election
Germany is set to head to the polls on 23 February amid one of the most challenging economic scenarios the country has faced in post-war times.

EU gas price cap proposals would drive shipments to other regions – ICIS expert
Proposals under consideration in the European Commission to temporarily cap natural gas pricing would likely result in the diversion of supplies away from Europe and tighten supply in the region, an ICIS analyst said on Wednesday.

EU promises plan to save chemicals as Clean Industrial Deal approaches
The European Commission has promised to address the plight of the region’s energy-intensive petrochemical sector later this year as it gears up for the publication of the Clean Industrial Deal on 26 February.

IPEX: Asia finding a floor, up 1%; PVC and PP drive 1.3% index fall in Europe; USG toluene firms
The ICIS Petrochemical Index (IPEX) for January shows that northeast Asian chemical markets may be finding a floor after two consecutive months of declines, with the regional index up 1% – only its second gain in six months, driven by a 14.7% surge in butadiene due to rising crude oil costs.