Chemistry, “the emblematic sector of Europe’s industrial decline”

VSIn a rare move, the French private enterprise association is entering the political arena two months before the European elections. In an open letter published on Monday, April 15, a pressure group of one hundred and seventeen of the largest French companies warns them, without naming them, against the programs of the national action, the Reconquest! And the radical left that will reveal Europe ” Risk of fragmentation » At the worst time in its history. He succeeded “tipping point”say the great authorities who express “Deep Attachment” Everything that makes up the EU, especially “Unparalleled Political Construction”.

without one “Explosion of Competition” It will pass from 2024 “Irrevocable Abandonment” to Asia and North America. It has already started: investment projects are concentrated on 54% in the first zone and 28% in the second, leaving only 10% for Europe. This growth requires a better mobilization of savings, securing supply chains, a European offer for ecological and digital transitions, “More speed and efficiency” Community institutions and procedures.

The chemical sector is a perfect illustration of the danger. “The global market is recovering, but European chemicals are showing further declines and are clearly in decline compared to other industrial sectors.”warns France Chimie in its 2023 report, presented on Tuesday April 16 at its general meeting. France is doing better than Germany in perfumery and cosmetics, while its major chemicals (petrochemicals, mineral chemicals, etc.) are declining.

There is no prospect of recovery

Low demand, electricity and gas prices higher than in Asia and the United States, aggressive investments China’s creation of excess capacity, help from Joe Biden’s inflation reduction act, all these elements caused the rate of use of French sites to fall to 74%. With no prospect of a recovery in 2024, where capital will go to maintenance work and adaptation to standards, not growth investment.

In mid-February, more than 60 European industry bosses chose Antwerp and the Belgian site of Germany’s BASF, the world’s number one chemical maker, to welcome European Commission President Ursula von der Leyen, who promises to boost competitiveness. Industry if re-elected for a second term. A highly symbolic site: the chemicals are used in many goods as Europe engages in a relentless battle against China.