Competitiveness of the EU chemical industry and the subsequent impact on supply chains
The European chemical industry has experienced a significant decline in competitiveness over the past two decades, especially compared to China, the US, and the Middle East. In 2023, production decreased by 8%, and exports fell by 16 billion euros, impacting the logistics industry. Major challenges include:
- A massive shift to China, where chemical output has increased twentyfold.
- High energy and labor costs in Europe.
- The need for innovation, talent reskilling, and sustainability
To regain competitiveness, the industry must reduce energy costs, innovate faster, reskill talent, and improve self-sufficiency in raw materials. The industry also needs to create a favorable investment climate, restore competitiveness, and align with the European Green Deal, which is crucial for driving necessary changes.
The "Antwerp Declaration for an Industrial Deal" provides a roadmap for restoring investment appeal and complementing the Green Deal. Additionally, the chemical logistics sector must enhance efficiency, reduce costs, and optimize supply chains through collaboration and AI-driven strategies.
The Green Deal-driven transformation offers the European chemical and logistics sectors an opportunity to leverage their expertise and resources to gain a competitive edge in the energy transition and circular economy.
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