UK-based chemicals giant Ineos has filed 10 anti-dumping cases with the European Union against what it describes as a flood of cheap chemical imports from Asia, the Middle East, and the United States, warning that “time is running out” to save Europe’s struggling chemical industry.
In a statement, Ineos said the European chemicals sector — a cornerstone of manufacturing — is being undermined by low-cost imports that are “drowning” domestic producers already facing the world’s highest energy prices and rising carbon costs. The company cautioned that without immediate action, it may be forced to halt production of key materials used across automotive, defence, electronics, construction, packaging, and pharmaceuticals.
The company’s 10 complaints target products such as polyvinyl chloride (used in antifreeze, brake fluids, and lubricants) and butanediol, which is used in various pharmaceuticals. These products are produced across 15 Ineos facilities, supporting more than 5,000 skilled jobs in Europe.
Mounting Pressure on EU Policymakers
Ineos founder Jim Ratcliffe had already warned in October that if European leaders failed to cut energy costs and enforce trade protections, the region’s once-dominant chemical industry could collapse. His warning coincides with the latest data from the European Chemical Trade Association (CEFIC) showing that EU chemical imports from China rose 8.3% year-on-year in the first half of 2025.
In 2024 alone, the European Commission opened 33 trade investigations — the highest number since 2006 — with over one-third focused on chemicals, reflecting the sector’s growing vulnerability.
Uneven Global Competition
Steve Harrington, chief executive of Ineos Styrolution, criticized EU policies for creating an uneven playing field, noting that European energy prices are about four times higher than in the U.S., and that Europe is the only region imposing high carbon taxes on its industry.
“There’s no level playing field,” Harrington said. “We’re importing products from China made with coal, while European plants are shutting down because they can’t afford the carbon tax. The chemical sector is strategic — it employs 1.2 million people. We are running out of time to save it.”
One of the cases involves an appeal — jointly filed with other producers of acrylonitrile butadiene styrene (ABS), a plastic used in products like Lego — against what they view as inadequate EU anti-dumping duties on imports from South Korea and Taiwan. While Brussels imposed duties of 3.7% to 21.7%, the U.S. has applied much higher rates of 15% to 26% on the same materials.
Financial Strain and Market Impact
The campaign comes as Ineos faces rising financial pressure, with the value of bonds issued by its subsidiaries declining since early 2025 amid concerns about the company’s €10 billion debt load and the wider European chemical downturn.
In September, Fitch Ratings further downgraded Ineos’s debt deeper into junk status, citing high leverage, weak global demand, and heightened trade tensions as key risks to the company’s financial stability.
As the EU weighs Ineos’s petitions, the outcome could determine whether Europe’s chemical sector regains competitiveness — or continues its slide in the face of global overcapacity and soaring production costs.
