Research and innovation remain at the heart of European chemical sector
Initiatives such as SusChem, and active adoption of low carbon technology, for the development of sustainable chemicals are attractive
Fierce global competition owing to high energy expenditure and challenging raw material costs to challenge the chemical sector
Brexit remains a future threat to European chemical sector, notably exports, and demand important reforms to prevent the plausible risks.
By Madhavi Bhosale
European chemical sector has portrayed its own success story since its development over 150 years ago. Manufacturing sector is playing a crucial role in terms of significant economic contribution and generation of vast employment. European Commission estimates that chemical manufacturing sector is Europe’s wealth-generating sector while accounting for second highest value per employee after pharmaceutical industry. The EU Chemicals industry represented about 7 percent of the total industrial production and 17 percent of the global chemical sales in 2013. The industry penetration reaches to construction, medical, pharmaceuticals, automotive, electronics, communication, energy, as well as agricultural sector.
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