1、THE COMPETITIVENESS OF THEEUROPEAN CHEMICAL INDUSTRYA joint study by:1 The Competitiveness of the European Chemical Industry January 2025 2 Foreword Dear readers,This competitiveness report,developed by Advancy,delves into the current state of the European chemical industry and its competitiveness o

2、n the global stage.It makes clear,through a wealth of data and comparative illustrations,that the time to act is now.The European chemical industry is an integral part of the European industrial fabric,and is vital for Europes climate-neutrality and circularity ambitions;whether you look at the supp

3、ly chains for microchips,battery materials for electric vehicle or medicines,all of them are heavily relying on chemistry and chemical products.However,over the past years,our industry has faced significant challenges.Increased competition from regions like the USA and China,lack of demand,rising en

4、ergy costs,and stringent regulations,among other factors,have added considerable pressure,leading to a decline in Europes market share on the global scene.Despite the challenges,our European industry remains a key player in innovation and sustainability.This study highlights the importance of invest

5、ing in new technologies and supporting policies that can help us transition to a low-carbon and circular economy.More importantly,it emphasises the urgent need for a clear industrial policy that supports business and manufacturing in Europe,reduces administrative burden,and fosters a level playing f

6、ield.The study outlines both the risks and opportunities ahead.Already more than 11 million tons worth of capacity have been announced to be closed in Europe in 2023 and 2024 combined.Without proactive measures,our industry risks further decline.However,with the right support,our EU industry can reg