The Dutch chemical industry is feeling the effects of the debt crisis, with little room left to pass on rising raw material prices and investments that are cancelled or postponed, sector federation VNCI said on Tuesday.

Turnover in the third quarter rose 11% on the same period in 2010, mainly due to higher sales prices which rose 15% on a year basis.
However, the debt crisis in the eurozone is having an effect. Around two-thirds of production is exported to eurozone countries. The rest goes mainly to the US.
China
‘Europe was the leading region in chemicals but China has overtaken us,’ Werner Fuhrmann, VNCI chairman, told news agency AFN. ‘Europe had 30% of the world market but that has dropped to 21%. China now has 23% of the market.’
Chemicals account for 2.5% of the world market, with a turnover of €50bn.
The chemical industry is one of the nine sectors the government wants to concentrate on innovation and sustainability. The VNCI says politicians must ensure a level playing field when it comes to CO2 emissions.