Tracking the Transformation
Monthly intelligence briefings on Germany's chemical and pharmaceutical sector—tracking structural shifts, corporate strategy, and the energy transition impact.
Current State (July 2026)
Current Mood
H1 production
German power
Capex moving abroad
Monthly Radar
Deep-dive strategic analysis · Structural outlook
Mood Index Trend
Scale: 1-10The Radar
VCI ruled out a sustainable recovery
Production fell and the full-year forecast remained negative.
BASF raised its EBITDA outlook
Operating improvement and the Coatings disposal lifted the year.
Wacker raised its earnings range
Savings and pricing worked without reversing German job reductions.
Evonik cut 3,200 more jobs
About 2,150 reductions were assigned to Germany; Witten will close.
Merck agreed to acquire Bio-Techne
An $11.3 billion shift toward global life-science tools.
Bayer won a landmark Roundup case
The Supreme Court decision drove an exceptional equity re-rating.
Monthly Editions
View ArchiveApril 2026
April 30, 2026
EU approval of Germany's industrial electricity subsidy improved the policy path, but chemical sentiment, materials availability, and demand expectations deteriorated further.
Policy Relief Met a Three-Year Low
May 2026
May 31, 2026
Precautionary orders and cost savings lifted selected results, while VCI data, collapsing expectations, and 1,600 German Wacker job reductions denied the recovery thesis.
A Special Cycle Hid the Structural One
June 2026
June 30, 2026
Chemical sentiment improved as import pressure eased and energy prices softened, while Evonik cut 3,200 more jobs and Merck pursued an $11.3 billion science-tools acquisition.
Hope Returned, but Mostly Through Scarcity
July 2026
LatestJuly 31, 2026
Earnings relief was real; a German chemical recovery was not. Corporate results improved while output, investment, employment, and location economics remained structurally weak.
Corporate Rebound, Location Erosion
Read the Latest Report
Earnings relief was real; a German chemical recovery was not. Corporate results improved while outpu...