The German chemical industry also recorded a decline in sales in the Corona year 2020. But now things are looking up again – and clearly.
The German chemical industry is leaving the corona crisis behind: In the second quarter of this year, according to its association VCI, the industry was able to build on the good start to the year and is heading for a record year.
After six months, sharply increased prices and a 5.9 percent increase in production have driven sales in the third largest German industrial sector by 12 percent to 111 billion euros, as the association reported in Frankfurt on Wednesday. The prerequisite was the global recovery in industrial production.
For the current year, VCI President Christian Kullmann expects a record turnover of 211 billion euros despite tense supply chains and bottlenecks in preliminary products. The best value so far is the year 2018 with 203 billion euros, while in the Corona year 2020 only just under 190 billion euros were earned. «This is a powerful comeback. It impressively shows how important an internationally competitive chemical and pharmaceutical industry is as an anchor of stability for our country, ”said the Evonik boss. A record is also to be expected in investments due to some catch-up effects.
According to the association, almost all product areas have benefited from the upturn. Basic chemistry grew particularly dynamically: The production of plastics (polymers) rose by over
20 percent. But the manufacturers of specialty chemicals were also able to increase their production level by 8.7 percent compared to the previous year. The growth of pharmaceutical manufacturers was more restrained (plus 1.4 percent), while the volume of chemical consumer goods such as soaps, detergents and cleaning agents fell by 1.8 percent.
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
