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Ifo, the German institute for the chemical industry, said on Wednesday that supply chain bottlenecks could have the most lasting impact on the German chemical industry
.
Shortages in the chemicals industry are expected to continue to impact production for nearly 10 months, compared with an average backlog of eight months across the manufacturing sector
.
Bottlenecks have eased in October, but only slightly compared to the previous month, with 70.
4% of companies reporting problems with the supply of intermediate goods and raw materials
.
Ifo's head of investigations Klaus Wohlrabe said: "It would be a mistake to call this a relief
.
Especially as businesses expect shortages to continue into the new year
.
"
Shortages were most pronounced in downstream markets of the chemical industry, including the automotive industry and electrical equipment manufacturers
.
The German chemical industry is the largest in Europe; in 2020, its sales, including pharmaceuticals, reached 190 billion euros
.
The petrochemical-intensive automotive industry is a key chemical end market, accounting for around 20% of its production
.
Although conditions have eased in most other industries, producers still plan to raise prices in response to the increase in supply
.
