Key Points on the Chemical Industry in the European Union / 25 member states1, 2 : ​• The largest chemical block in the world • Generates revenues of 600 billion € – 28% of world total • Employs 3 million highly productive people – 9% of total employed in EU manufacturing • Serves every segment of the EU cross-sector manufacturing and of direct customer products • Accounts for 45% of EU’s total manufacturing trade surplus • Stands for 25% of total EU export • Has constantly reduced its real prices since 1996 Nothing is however granted and the European Union as major chemical production region may be at risk in the longer term. The European Chemical Industry Council (Cefic) recorded in 2004 the following outlook for the European Petrochemical Industry : “To secure the industry’s long-term competitiveness, decisive action by both industry and authorities is required to steer the critical drivers determining the future of the industry in the right direction of the next ten years.”