In 2023, Germany led the European chemical industry with a turnover of 178.11 billion Euros, a modest year-on-year increase of 0.96%. France, the second largest market, experienced a minor decline of 0.09%, bringing its turnover to 80.74 billion Euros. Italy followed with a turnover of 71.03 billion Euros, reflecting a growth of 0.35%. Among the smaller markets, Lithuania, Latvia, Iceland, and Luxembourg posted impressive year-on-year growth rates of 5.78%, 6.02%, 5.89%, and 5.4% respectively. Conversely, the United Kingdom saw a notable downturn with a 4.43% decline, while the Netherlands and Slovakia also experienced reductions of 2.39% and 2.1% respectively.
Over the last five years, the European chemical industry has shown signs of maturation, with countries like Germany, Italy, and Belgium exhibiting steady growth. Future trends to watch include increasing investments in sustainable chemicals and green technologies which are expected to drive industry innovation and growth. Additionally, geopolitical factors and regulatory changes across the European Union are likely to influence market dynamics significantly.
Top countries in Chemical Turnover by Country
| # | 10 Countries | Million Euros | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Germany | 178,110 | 2023 | +0.53% | +0.96% | View data |
| 2 | 2 France | 80,740 | 2023 | -0.83% | -0.09% | View data |
| 3 | 3 Italy | 71,030 | 2023 | +9.09% | +0.35% | View data |
| 4 | 4 Netherlands | 55,940 | 2023 | +3.38% | -2.39% | View data |
| 5 | 5 Spain | 42,310 | 2023 | +1.04% | -0.3% | View data |
| 6 | 6 Belgium | 36,710 | 2023 | +4.54% | +0.6% | View data |
| 7 | 7 United Kingdom | 28,410 | 2023 | -4.05% | -4.43% | View data |
| 8 | 8 Poland | 18,690 | 2023 | +2.03% | +1.79% | View data |
| 9 | 9 Austria | 18,000 | 2023 | +8.01% | +2.98% | View data |
| 10 | 10 Czech Republic | 12,430 | 2023 | +8.91% | +1.71% | View data |
