降！降！降！这个化工强国处境艰难

Core Insights - The German chemical and pharmaceutical industry is facing significant challenges, with declines in production, prices, and exports, leading to a painful situation for many companies [1][2] - The industry is experiencing a downturn in overall activity, global overcapacity, and high location costs, particularly affecting import and export business [1] - The outlook for 2025 is pessimistic, with predictions of stagnation in production and a potential decline in chemical production by 2%, while pharmaceutical production may partially offset this impact [1] Industry Performance - Production in the chemical sector decreased by 0.3% in Q3 2025 compared to the previous quarter and by 1.5% year-on-year [2] - The capacity utilization rate in the chemical industry is only 70%, indicating underperformance [2] - Sales revenue for Q3 2025 was €51.1 billion, reflecting a 1.5% decline from the previous quarter [2] Future Outlook - The VCI predicts that total sales for the industry will decline by approximately 1% to €221 billion due to slight price decreases [1] - The overall sentiment in the pharmaceutical sector is also deteriorating, influenced by unstable U.S. trade policies and global price declines [1] - Without intervention, the German industrial sector may continue to struggle under the pressures of transformation costs and bureaucracy [1]