Lower energy and raw material prices improved the situation in the German chemical industry in the first quarter.
(Photo: obs)
Cologne The chemical industry is of great importance for the German economy: With annual sales of around 200 billion euros, it is the third largest branch of industry in Germany and is well represented in the German leading index Dax with BASF, Brenntag, Covestro and Symrise. A number of German companies are also among the world market leaders with their respective products.
But the local chemical industry is not having an easy time at the moment: high energy prices, rising costs for chemicals, long approval processes and bureaucracy are slowing things down and reducing international competitiveness. This has accordingly depressed the prices of many stocks in recent months.
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