COMPANY NEWS

European chemical production still remains below pre-2008 levels, said Christian Buenger, a senior economist with the Association of the German Chemical Industry (VCI), and lower growth is expected between now and 2020, creating a “lost decade” for the industry.
Speaking at the 13th ICIS World Aromatics and Derivatives conference in Berlin, Buenger, a senior economist with VCI,  highlighted several risks for economic growth in Europe such as the conflict in the Ukraine, the threat of deflation and high unemployment levels in several countries, which could potentially limit chemical demand.
However, he also noted that the chemical industry in Europe is a “solution provider”, adding that structural reform and the cyclical nature of recovery would also provide opportunities for growth in the coming years.