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    Home > Chemicals Industry > Rubber Plastic News > German chemical companies continue to be hit by supply chain issues

    German chemical companies continue to be hit by supply chain issues

    • Last Update: 2023-01-19
    • Source: Internet
    • Author: User
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    Overall business conditions at German chemical companies have deteriorated in recent months, according to a survey of VCI members

    This deterioration is mainly due to supply chain constraints

    "We are not short of orders, but bottlenecks in basic products and logistics have worsened
    ," VCI said
    Thirty percent of companies reported slight cuts, with 5 percent making what the trade association called "severe cuts


    “Due to supply chain issues, 35% of companies have had to reduce production and 10% have temporarily closed factories
    However, bottlenecks will affect industry customers first: more than 70% of companies can only delay processing orders, while 39% of companies The
    order could not be fulfilled at all

    ," the VCI added

    The company said it does not expect the situation to ease until the summer of 2022

    The German Chemical Industry Association forecasts production growth in the country's chemical industry to grow by 1.
    5% in 2022 (2.
    0% including pharmaceuticals), and assuming a 3.
    5% increase in chemical producer prices, turnover will increase by 5%


    It added that chemical production in 2021 will increase by 4.
    5% year-on-year and turnover will increase by 15.
    5% to about 220 billion euros, as producer prices have risen by 8.


    "The underlying rationale for this result is that the industry's industrial customers continue their business recovery process across all continents," the report said

    German polymer production rebounded from a slump in 2020, rising 15% year-on-year on strong domestic and export demand, VCI data showed
    Production of petrochemicals rose 3%


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