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In 2009, the economic efficiency of the European petrochemical industry has dropped significantly. In the second quarter, the industry was operating stably. Due to the increase in demand in some industries and regions, consumption increased slightly, and profits in the third quarter improved, but output fell. At present, Western Europe is struggling to deal with a sharp drop in profitability, but it has improved compared to the very bad situation at the beginning of 2009. Many manufacturers are taking mitigation measures to idle or shut down non-economical production facilities.
The European petrochemical industry is currently in the most difficult situation in decades. Demand has been greatly reduced, and cost competition is no match for suppliers in the Middle East. The difficult situation will force some changes in this area, but most companies will survive and be rescued because the demand for manufacturing in this region will eventually recover.