Investments in the European chemicals industry plummeted by 80% last year, with capacity closures surging sixfold to 37 million tons, leading to job cuts and a lack of new investments. High energy costs and EU regulations are choking the industry, causing import dependence and a shrinking global market share.

European chemical companies are struggling due to high energy costs, stringent regulations, and fierce competition from Chinese and U.S. producers. Major players like SABIC, Dow, and Exxon are closing plants and divesting assets in Europe. The industry’s decline threatens essential sectors like defense and automotive manufacturing, highlighting its critical role.

The European chemicals industry is at a breaking point, with the head of Cefic warning that the sector is under severe stress. The rapid decline in investments and capacity closures signal a looming crisis that could impact various industries dependent on chemicals. Urgent action is needed to address the challenges facing the industry.

Read more at Yahoo Finance: Europe’s Chemical Industry Is Collapsing Under Energy Costs and Regulation