Global Chemical Industry
The chemical industry has had good news at the beginning of the summer . The forecasts to end this 2021 are very positive, achieving an economic rebound thanks to exports. After such a tough year, it is important to see some positive consequences. Global Chemical Industry
COVID affected almost all business sectors, and the chemical industry was also one of them. After several years of positive evolution, 2020 represented a break of 2.9% compared to 2019. However, the Feique employer’s association estimates that this year it will reach 69.100 million euros as a turnover , 7.1% more than the 64,500 from last year.
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This economic rebound is largely due to the fact that exports will be more beneficial . Foreign trade (especially the rest of the countries of the European Union and Asia) will reach a record figure: 40,300 million euros, 10.2% more than the 36,500 in 2020.
And it is that the agreements with other countries are very fruitful in the chemical industry. In fact, this sector is considered the second most important when it comes to exporting , only behind the automotive industry. Barely 5,000 million euros separate the two industries.
It is important to note that this economic rebound even reaches the year in which Brexit has taken place. Exports fell 18% and the chemical industry had to overcome. But things will settle down soon, when customs systems are consolidated, something that Feique estimates will reduce our trade contact with the UK by 10%.
The chemical sector took hold in the pandemic
The chemical industry is made up, according to Feique, about 3,000 companies of all kinds . These companies have been strategic during the 2020 health crisis. Production fell by just 0.4%, while the rest of the manufacturing industries suffered slightly more than a negative 10%.
This is because the pharmaceutical area supported the rest of the chemical industry , with a 2% increase in its production. So did agrochemicals, cleaning and hygiene products or pharmachemistry. On the contrary, those sectors more focused on the automobile or construction suffered a more serious setback.
We can speak, without a doubt, that the chemical industry has a good momentum. Even without counting the economic rebound that is assumed for this year, our country has achieved accumulated productive growth of 18% since 2007 . 20 different work areas and more than 30,000 derivative products that last year employed 210,000 people.
The future of the chemical industry, greener
The economic rebound estimated for this year is given, in part, by the 2,200 million euros granted by European funds for aid and recovery. The chemical industry foresees that until 2026 investment will continue to increase in this sector, especially committed to the circular economy, decarbonisation and the promotion of green hydrogen. Global Chemical Industry
It was precisely the president of Feique, Carlos Navarro, who has highlighted one of the most interesting projects in the chemical industry in terms of non-polluting energy. The Hydrogen Valley in Tarragona will be one of the most important chemical points in Spain, both as a producer and consumer of this energy source.
What lies ahead is but one more challenge for the chemical industry . Continue to maintain their jobs after this economic rebound and help all Spanish sectors. Everything happens to become an important leg in the business and export fabric of this country.