At the annual press conference held in Frankfurt, the German Chemical Industry Association (VCI) revised its growth forecast for the chemical sector in 2005 upward. The new projection now stands at over 6%, nearly doubling the previous estimate of 2.5%. However, the pace of growth is expected to slow down this year compared to last year’s strong performance.
According to WNA Wenning, president of Bayer and newly appointed chairman of VCI, the industry was driven by robust demand from manufacturing clients, particularly in the third quarter of 2004, when production rose by 6% year-on-year. This momentum has given chemical companies confidence that the positive trend will continue through the first half of 2005.
VCI reported that the German chemical industry achieved a 7% increase in sales last year, reaching 152 billion euros (approximately $178 billion). Although there was a brief dip in the second quarter, the industry maintained steady growth throughout the entire year. Looking ahead, the association forecasts a 2.5% rise in output and a 3.5% increase in sales for 2005.
With continued investment and strong global demand, the sector remains optimistic about its future prospects despite the expected slowdown.
Clear Acrylic Wall Guard,Customizable Corner Bead,Plaster Angle Bead Guard
Chongqing Qingtao Fiberglass Products Co., Ltd. , https://www.eifsfiberglassmesh.com