The economic and political situation has changed dramatically for the energy- and raw material-intensive chemical industry as a result of the Ukraine war.  (© tomas/stock.adobe.com)
Market Impact

German Chemical Industry Association Outlines the Effects of the Ukraine War

The German Chemical Industry Association (VCI) has stated that the industry's expectations from the beginning of the year for the business outlook in 2022 have been overturned due to Russia’s invasion of Ukraine. It further mentions that 70 % of companies are facing major problems in their business with the explosion of energy prices and also warned that an import ban on Russian natural gas would lead to massive consequences for the chemical and pharmaceutical industry.

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