The petrochemical sector is currently undergoing a profound transformation. Historically integrated with oil refining, this industry is facing challenges related to high energy costs and a growing loss of competitiveness compared to international players. At the European level, the basic chemicals industry is experiencing a systemic crisis: over the past three years, there has been an 8-10% reduction in cracking capacity, with prospects of further closures threatening up to 200˙000 jobs.

In this context, the ecological transition presents a dual challenge: reducing climate-altering emissions and defossilizing the raw materials used in polymer production. Therefore, the sector’s transformation cannot be limited to energy efficiency alone; it must also address the issue of feedstock, shifting towards durability, bio-based feedstocks, advanced recycling and specialization in long-lasting products.

At the European level, 2025 is a crucial year. The Commission has presented the Chemical Industry Action Plan and is currently updating the Bioeconomy Strategy, whose new version will be published in December. The updated Strategy is intended to strengthen the competitiveness of European companies, promote the efficient use of biological resources and create new jobs in rural and coastal areas.

Considering these challenges and opportunities, ECCO Think Tank and Cluster Spring are promoting a cross-sectoral dialogue to define a coherent industrial strategy capable of guiding the transition of the petrochemical sector and fully seizing the opportunities offered by the new European Bioeconomy Strategy.

Appointment on November 18 at 9:30 a.m., at the European Bioplastics AISBL Av. Palmerston 3 – 1000 Brussels.