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Belgium's Chemical Industry Booms as Europe's Trade Surplus Drops

Belgium's chemical industry is thriving, but Europe's trade surplus is under pressure. The US, however, is enjoying a stable environment for its chemical manufacturers.

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1 min read
In this image we can see a bottle which is on table is of brand port brewing.
In this image we can see a bottle which is on table is of brand port brewing.

Belgium's Chemical Industry Booms as Europe's Trade Surplus Drops

Belgium's chemical industry has shown remarkable growth, bucking the trend in major European economies. Meanwhile, Europe's trade surplus in chemicals has seen a significant drop due to increased imports, particularly from China. Across the Atlantic, the US chemical industry is benefiting from lower energy costs and steady demand.

Belgium's chemical production surged by 9.1% in 2024, outpacing its European counterparts. Meanwhile, the Netherlands and France posted declines, contributing to a 25% year-on-year reduction in Europe's chemicals trade surplus. This decrease is largely attributed to a rise in imports, with China being a notable source.

The US chemical industry is faring well, thanks to relatively lower energy costs and stable domestic demand. This has led to higher capacity utilization rates, according to the American Chemistry Council's Q1 2025 Economic Sentiment Index. The index signals a more stable environment for US chemical manufacturers.

Looking ahead, the European Chemical Industry Council (Cefic) forecasts a modest 0.5% growth for the EU27 chemical industry in 2025. This is a significant slowdown from the 2.4% growth projected for 2024. The council cites overcapacity and political uncertainties as the primary reasons for this downturn.

While Belgium's chemical industry flourishes, Europe as a whole faces challenges in maintaining its trade surplus and growth. The US, on the other hand, is experiencing a stable environment for its chemical manufacturers, driven by lower energy costs and steady demand. The coming years will be crucial for the European chemical industry to navigate these headwinds.

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