Cautiously optimistic outlook for chemical industry in 2022

Recently, the world's major chemical industry analysis agencies released their new year outlook

Economic recovery has slowed

In 2022, the economic recovery in the post-pandemic era will continue, but it will slow down

Sarah Johnson, executive director of global economics at IHS Markit, said: “In 2022, chemical companies will have to deal with multiple challenges to the global economy, including a mutated Covid-19 virus, a shift in fiscal policy from stimulus to restraint, higher interest rates and tighter credit conditions, and Energy transition from hydrocarbons to renewables

Chemical industry growth will slow down

Martha Moore, chief economist at the American Chemistry Council (ACC), expects the global chemical industry as a whole to grow by 3.

In 2021, the global chemical industry will grow by 5.

In addition, the growth rate of all sub-sectors will be lower than that in 2021.

Growth in the chemical industry remains underpinned by continued global economic growth

　　After a strong 5% growth in 2021, growth in the EU-27 chemical industry will slow to 2.

　　The German Chemical Industry Association (VCI) forecasts that in 2022 German chemical production (excluding pharmaceuticals) will increase by 1.

　　Inflationary pressure should not be underestimated

　　Despite the risks, the global chemical industry outlook and indicators remain positive and optimistic

　　The price pressure of chemical products remains severe, with the input price index in November 2021 at 73.

　　A rise in U.