Europe top stories: weekly summary

LONDON (ICIS)–Here are some of the top stories from ICIS Europe for the week ended 4 October.

No signs of petchems demand recovery from car sector on the horizon, H2 2025 may be a moment of truth
After a strong rebound in car sales last year, the European automotive industry is facing a more challenging environment in the second half of 2024, leading to a drop in petrochemical requirements from car manufacturers.

LANXESS exits polymers via sale of urethane business to Japan’s UBE
LANXESS is selling its urethane systems business to Japanese chemicals producer UBE Corp for around €500 million, the German specialty chemicals firm said on Thursday.

Europe recycled polyolefin agglomerates prices face downward pressure
Europe recycled polyolefin agglomerate prices are facing downward pressure due to weak demand from mechanical recyclers.

ADNOC makes public takeover offer for Germany’s Covestro
Abu Dhabi state oil and petrochemicals player ADNOC has launched a public takeover offer for Germany-based producer isocyanates, polycarbonates and adhesives specialist Covestro, representing an equity value of €11.7 billion.

Bold policy moves might not arrest China economic slowdown
In a bold move to revitalize its economy and restore investor confidence, China unveiled a comprehensive package of monetary and fiscal measures less than a week before the country goes on a week-long holiday.