Germany's Crisis Hit Chemical Industry Seeks Revival Germany's chemical industry, a stalwart pillar of the nation's economy for decades, is facing an existential crisis.
High energy costs have decimated profitability, rendering German companies globally uncompetitive. The trend, experts warn, cannot be reversed without drastic measures from policymakers.
Chemical production in Germany has been hampered by skyrocketing natural gas and other energy costs. The Russia Ukraine conflict sent prices soaring, and the recent US Israel war against Iran exacerbated the problem.