Chemical industry in Europe - statistics & facts
The chemical industry is an important part of the global economy. It converts raw materials into a wide range of products central to modern life and generates an annual revenue of almost 5.7 trillion U.S. dollars globally. In terms of revenue, the chemical industry in Europe is second only to Asia. Despite a decrease in participation in the past decade - due to increasing competition from emerging markets and rising energy costs in the region - Europe accounted for a 22.2 percent share of global chemicals sales in 2022.
A large part of the European Union's chemical revenue comes from exports. The European Union is, in fact, the largest chemical-exporting region worldwide. In 2022, the EU exported approximately 240.1 billion euros worth of chemicals and registered a trade surplus of roughly 2.5 billion euros. Specialty and consumer chemicals contributed the most to the region’s trade surplus, whereas petrochemicals and basic inorganic chemicals experienced a trade deficit that year.
Chemical sales and trade in Europe
The European Union generated almost 760.4 billion euros in chemical sales in 2022, whereas the rest of Europe registered a chemical revenue of slightly over 212.9 billion euros. Within the region, the German chemical industry is by far the largest, with a revenue that surpassed 227.1 billion euros in 2021. The United Kingdom and France were the second and third largest markets for Europe's chemicals sales that year.A large part of the European Union's chemical revenue comes from exports. The European Union is, in fact, the largest chemical-exporting region worldwide. In 2022, the EU exported approximately 240.1 billion euros worth of chemicals and registered a trade surplus of roughly 2.5 billion euros. Specialty and consumer chemicals contributed the most to the region’s trade surplus, whereas petrochemicals and basic inorganic chemicals experienced a trade deficit that year.
