In 2023, Spain led in Gross Value Added (GVA) for European chemicals manufacturing, followed by Belgium. Austria and Lithuania showed strong growth with a significant rise in their GVA shares. Meanwhile, Greece, Slovakia, and Slovenia demonstrated moderate increases. Luxembourg showed notable growth among smaller economies, and Latvia followed suit.
Over the last year, Lithuania experienced the most substantial growth, and during the past five years, countries like Austria, Lithuania, and Luxembourg have shown remarkable yearly growth rates (CAGR). Cyprus showed minimal but positive growth.
Looking forward, heightened focus on sustainability and circular economies will likely drive innovation and investment in the European chemical sector. Key trends include increased emphasis on green chemistry and digital transformation across industrial operations, which could reshape the GVA landscape significantly in the coming years.
Top countries in Chemicals Manufacturing Gross Value Added Share by Country (Million Euros)
| # | 10 Countries | Percent | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Spain | 36.3 | 2023 | +1.85% | +4.57% | View data |
| 2 | 2 Belgium | 34.11 | 2023 | -0.35% | +2.78% | View data |
| 3 | 3 Austria | 15.47 | 2023 | +2.49% | +9.94% | View data |
| 4 | 4 Lithuania | 5.3 | 2023 | +13.23% | +21.6% | View data |
| 5 | 5 Greece | 3.36 | 2023 | -1.58% | +4.07% | View data |
| 6 | 6 Slovakia | 2.2 | 2023 | -10.31% | +4.98% | View data |
| 7 | 7 Slovenia | 1.48 | 2023 | +3.99% | +3.42% | View data |
| 8 | 8 Croatia | 0.61 | 2023 | -2.45% | +6.97% | View data |
| 9 | 9 Luxembourg | 0.58 | 2023 | +1.81% | +11.62% | View data |
| 10 | 10 Latvia | 0.47 | 2023 | +8.67% | +8.64% | View data |
