In a recent interview, BASF Chief Markus Kamieth, who also serves as the president of the European Chemical Industry Federation Cefic, shared a bleak outlook for the chemical sector in Europe. He emphasizes the urgent need for reforms from EU officials to bolster an industry that is facing unprecedented challenges. The current climate reflects a growing recognition of the industry's importance, but concrete measures to support it have been lacking despite heightened political awareness.

Since a pivotal summit in Antwerp two years ago, the situation for the European chemical industry has worsened, with BASF reporting a nearly ten percent reduction in production capacity and a significant job loss totaling around 20,000 positions. The fallout is anticipated to impact an additional 90,000 jobs indirectly, highlighting the far-reaching consequences of the industry's downturn. Kamieth warns that the ongoing closures of production facilities are exacerbating the crisis, with little sign of recovery or support coming from government initiatives.

Kamieth's call for immediate action is amplified by the need for enhanced resilience within the industry, a topic that has gained traction among policymakers. The lack of decisive measures to make impactful changes continues to hinder the industry's ability to thrive, raising concerns over future competitiveness and employment within one of Europe's vital economic sectors. As the landscape evolves, the pressing need for a strategic response becomes all the more critical to ensure the sustainability of chemical production in Europe.