ICIS - chemical podcasts

Episode 1462: Think Tank: Iran war has spurred EU into action on industry competitiveness

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As the war in the Middle East pushed up energy costs in Europe, politicians in Brussels have sprung into action on moves to improve chemical industry competitiveness.

  • Iran war pushed EU to accelerate moves on cutting energy costs
  • Now up to member states to implement cost cutting measures
  • Positive moves on Emissions Trading System (ETS)
  • Fast-tracking for anti-dumping duties (ADDs) is welcome
  • Brussels has finally moved from words to action
  • Update to Reach regulation has been halted
  • New ETS structure to be revealed on July 15. Force majeure option would be welcome
  • War effect will last throughout 2026 and likely into 2027
  • Companies in Europe are delaying maintenance as demand has risen
  • Customers and producers are rethinking 100% globalised business models, seek to make supply chains more robust
  • Northern China can access Russian crude, South more reliant on Middle East
  • Expect slump in consumer spending, rising rates of savings in Europe, demand destruction later in the year
  • Permanent plant closures, M&A is creating a strong European industry
  • AEQUITA, Borouge International, Moeve-Galp merger will create Europe-based powerhouses

    • In this ICIS Think Tank podcast, Will Beacham interviews Cefic director general Marco Mensink and Paul Hodges, chairman of New Normal Consulting.

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