Chemicals sector update | Q3 2023 M&A report


20 November 2023

  • Demand for European chemical products is slowing down due to intense international competition.
  • Greek chemical companies are actively investing in climate-neutrality to improve energy efficiency and lower costs.
  • All chemicals sub-sectors recorded losses in Q3 2023, attributed to the destocking cycle causing declines in demand for final chemical products.
  • European M&A activity remained muted in Q3 2023 due to macroeconomic uncertainty, discouraging extensive dealmaking.
  • We anticipate an uptick in transactions in 2024 as sellers adapt their valuation expectations to match market reality.