Europe’s Chemical Firms Sidestep War Fallout Hitting Asia Rivals
An Evonik Industries AG plant in Wesseling, western Germany.
Photographer: Pau Barrena/AFP/Getty Images
Europe’s chemicals sector looks to have avoided the worst of the early fallout from the Iran war, a much-needed boost after years battling rising competition, dwindling revenue and elevated energy costs.
A high number of company earnings in the region beat expectations for the most-recent quarter, as disruption to feedstock supply from the Middle East forces Asian producers to curtail output, shifting demand toward European competitors.