Low ebb: Germany's chemical industry struggles to stay afloat.

STANDARD & Poor's Financial Services LLC; CHEMICAL industry; ECONOMIC research; ECONOMIC policy; GASOLINE taxes

Germany's chemical industry is currently experiencing difficulties, with declining sales, job cuts, and plant closures. The industry is facing challenges such as high energy costs and bureaucratic regulations. The government has taken steps to support the industry, but a full recovery seems unlikely at this time. The industry is also grappling with high gas prices, bureaucratic hurdles, and restructuring programs. Gas prices have risen due to the conflict in Ukraine, leading to increased production costs. Bureaucracy is slowing down the approval process for new plants, hindering investment. Many chemical producers have announced restructuring programs, including closures and job cuts, in response to these challenges. The industry is calling for government intervention to address these issues and maintain competitiveness. [Extracted from the article]

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