The EU’s chemicals industry is on an upward trend according to the latest figures released about the sector.
Data published by the European Chemical Industry Council (Cefic) revealed that the chemicals sector grew by 2.4 per cent through April this year, compared to the same period in 2016.
The organisation also noted that there was growth across almost all of the industry’s subsectors, with plastics posting the greatest increase at eight per cent. Dyes and pigments and basic inorganics each experienced growth of between three and four per cent.
Speciality chemicals was the only area that remained constant in the first quarter, but across the whole of the European chemicals industry output was at its highest level for eight years.
As well as production increasing, sales and prices also climbed, with the council noting that “the positive development of industrial demand and encouraging construction activities drove chemical business in the EU market”.
Cefic also pointed out that consumption of chemicals within the EU market increased by 6.2 per cent year-on-year in the first quarter of 2017, equating to an additional €7 billion in value.
However, with the UK poised to leave the EU, there are concerns over how Brexit will impact the British chemicals and manufacturing sectors.
Earlier this year data from the ONS revealed that one in ten people working in the manufacturing industry are EU migrants, and with policy surrounding migration post-Brexit still far from certain, there may be worries about finding a suitable workforce in the years to come.
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