US Chemical Industry Stable, Europe Slows Down in Q1 2025
The global chemical industry is witnessing varied fortunes, with the USA enjoying lower energy costs and stable domestic demand, while Europe faces a slowdown in output growth and a shrinking trade surplus.
According to the American Chemistry Council's (ACC) Q1 2025 Economic Sentiment Index, the US chemical manufacturing environment is more stable. This, coupled with lower energy costs, has benefited the US chemical industry. Meanwhile, Europe's chemical output growth is forecast to slow down to 0.5% in 2025, a significant drop from the 2.5% growth seen in 2024.
Europe's chemicals trade surplus has also taken a hit, shrinking by 25% year-on-year due to increased imports, particularly from China. Despite this, Belgium saw a notable 9.1% increase in chemical production, bucking the trend of major economies like the Netherlands and France, which posted declines.
While the US chemical industry braces for stability and benefits from lower energy costs, Europe grapples with a slowdown in output growth and a shrinking trade surplus. The coming months will reveal whether these trends persist or shift.
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