Alex Scott

3 weeks ago | cen.acs.org | Alex Scott

The European chemical sector isn't getting out of its slump quite yet. In fact, a number of indicators suggest that the outlook today is worse than it was at the start of the year. German chemical executives had hoped that their country's new government, which is set to receive parliamentary confirmation on May 6, would ease their plight. But there is "little to enthuse investors in energy-intensive German industrials," says Sebastian Bray, Berenberg Bank's chemical analyst, in a note to investors.

1 month ago | cen.acs.org | Alex Scott

The energy and petrochemical giant Shell plans to pull back from the chemical industry and instead focus on its liquified natural gas business. Speaking at the firm's capital markets day meeting on March 25, Shell CEO Wael Sawan said that the chemical business is "not delivering adequate returns" and that "we do not believe we are the natural owners of this chemicals portfolio." Shell sold almost 12 million metric tons of chemicals in 2024 but posted a net loss of about $102 million for the year.

1 month ago | cen.acs.org | Alex Scott

Led by Marc Ferracci, France's minister for industry and energy, eight European countries have released a series of measures they want the European Union (EU) to adopt to protect the region's ailing chemical industry. Called the EU Critical Chemicals Act and outlined in a joint statement by the countries, the proposed legislation is a response to the European chemical industry's lack of global competitiveness, a situation that has led to a series of plant closures across the region.

2 months ago | pubs.acs.org | Alex Scott

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2 months ago | cen.acs.org | Alex Scott

The European chemical industry is in dire straits. Several major firms are on the verge of closing plants in the face of weak demand, persistently high natural gas prices, and a looming trade war. "Chemical plants are up for sale and closing on an unprecedented scale in Europe," says Richard John Carter, an independent consultant and former senior executive at BASF. Hard times in Europe's automotive sector, one of the chemical industry's main customers, are part of the problem, Carter says.