Industry Trends Chemicals 2022

Chemicals - global performance at a glance.
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B2B payment practices trends, Western Europe 2022

The Atradius Payment Practices Barometer is an annual survey of business-to-business (B2B) payment practices in markets across the world.
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Backward integration raises value chain vulnerabilities

Businesses experience difficulties to source inputs as a result of shocks to global value chains.
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Sharp increase in insolvencies as govt. support expires

As government support measures related to the pandemic have ended almost everywhere, we expect insolvencies to rise sharply in some major markets.
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Industry Trends Metals and Steel 2022

Profit margins of many business increased in 2021, but several markets are facing major downside risks
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Inflation expectations yet to decouple from ECB target

Despite rising inflation in the eurozone, we argue it has not yet sprung loose from the ECB target in the medium term
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Economic Outlook - July 2022

Economic disruptions from the war in Ukraine, lingering lockdown restrictions and multi-decade high inflation have generated a new set of adverse shocks for the global economy
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USMCA: soaring inflation prompts liquidity protection

The impact of the alarming surge of inflation on businesses, and the consequent need to protect cash flow and profitability, lies at the heart of our latest survey in the USMCA.
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US: DSO worries prompt strategic credit management

Days-Sales-Outstanding worsens (DSO) for one third of companies polled across all US industries. Payment default from B2B customers remains a major headache for companies.
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Mexico: rising bad debt levels

Over than 10% increase in the Mexico market in the levels of both B2B customer payment defaults and bad debts written off as uncollectible.
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Canada: business alert to B2B customer payment default

The need for strong strategic credit risk management is a high priority in the Canadian market.
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Asia: concern over upward trend of bad debt write-offs

The 2022 edition of the Atradius Payment Practices Barometer for Asia reveals a sharp rise in B2B bad debts written off as uncollectable. This represents a threat of liquidity strains for businesses.
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United Arab Emirates: credit management strengthening

A wide range of protective measures to mitigate against the impact of customer payment default were used by businesses polled in the United Arab Emirates.
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Singapore: businesses take hit of increasing write-offs

Debts written off as uncollectable showed an alarming 50% increase in the Singapore market compared to our past survey.
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Hong Kong: trade credit risk trends upward

An alarming increase in bad debt write-offs worries companies in Hong Kong, prompting them to seek strategic credit risk management solutions.
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India: bad debt levels remain high

Companies polled in India told us of the difficulty they found in collecting long unpaid trade debt.
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Taiwan: sharp rise in bad debts

Our survey shows a sharp rise in bad debts written off as uncollectable, revealing a disturbing deterioration in B2B payment practices.
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Indonesia: liquidity issues spark B2B payment default

Companies polled said they tackled the issue with more regular reviews of customer credit behavior to spot warning signs of financial distress.
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Vietnam: bad debt write-offs dent business liquidity

Companies polled in Vietnam said they needed measures to avoid being liquidity squeezed due to the impacts of customer payment default on the business.
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China: cash flow strained by default on B2B payments

Businesses polled in China fear that a knock-on effect of payment defaults from B2B customers will trigger liquidity issues.
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Industry Trends ICT 2022

ICT is expected to be among the fastest growing sectors in manufacturing, driven by accelerating digitalisation and industrial automation
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Energy Outlook Update - May 2022

Energy Outlook based on the IEA's World Energy Outlook
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Australia: companies anxious amid cascade of troubles

High levels of unpaid debt prompt stronger credit controls among Australian businesses as they battle it out for survival in a competitive market.
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Eastern Europe: buoyant business mood tempered by risk

Most of the businesses polled in Eastern Europe predict growth in 2022. However, this optimistic outlook is tempered by the acknowledgement of downside risks.
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Bulgaria: ongoing impacts of pandemic cloud outlook

Despite a fairly robust GDP growth outlook for next year, confidence of the businesses polled across Bulgaria is muted.
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Czech Republic: upbeat businesses eye DSO containment

Most of the Czech businesses polled opted to manage customer credit risk internally. However, and despite their efforts, many were not successful at containing year-on-year increases in DSO.
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Hungary: improving payment practice reflect upbeat mood

As B2B payments behaviour improves in Hungary, there is still a hint of caution voiced by the businesses we interviewed in the country.
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Poland: businesses emerge from pandemic recession

Amid predictions of growth, businesses surveyed in Poland reported having struggled with rising credit management and debt collection costs in recent times.
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Romania: cash dominates as businesses shun trade credit

Businesses polled in Romania favoured the surety of cash sales this year. However, this put them at a disadvantage in a global market place where credit terms are a competitive tool.
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Slovakia: credit insurance widespread

Most of the businesses polled in Slovakia reported a decline in late payments. This highly reflects the widespread adoption of credit insurance amongst local businesses polled.
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Turkey: cash sales and credit insurance protect books

Promising predictions for Turkey in 2022. This can also be seen in the results of this year's survey on local corporate payment practices.
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Spain: use of credit insurance protects businesses

Spain expects elevated insolvency levels in 2022. Businesses polled in the country reveal an increased appetite for the use of credit insurance over the coming months.
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Italy: insolvencies on the rise, but confidence remains

Despite further deterioration of the insolvency environment in Italy over the coming months, economy has started to grow again and with that business confidence in the future.
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Western Europe: bracing for heightened insolvency risk

Global insolvencies are expected to climb 33% in 2022. All major regions should be affected. Businesses should brace for higher insolvency risks.
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United Kingdom: growth outlook despite increasing risks

As the UK economy rebounds from the double shock of Brexit and the pandemic, businesses seeking growth should take steps to protect their accounts receivable from the impacts of trade credit risks.
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Switzerland: write-offs doubled in some sectors

Swiss businesses polled for the Payment Practices Barometer reported a challenging 2021, with sharp deteriorations in customer payment behaviour and big increases in write-offs.
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Sweden: widespread use of trade credit

Businesses polled in Sweden expect to see an increase in the frequency of credit sales, largely as a way of providing short-term finance for their B2B customers.
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The Netherlands: downside risks despite optimism

The pandemic-induced economic challenges fed into the payment delays and write-offs that have impacted the key markets we polled in the Netherlands this year.
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Ireland: strong business confidence, but risks remain

Forecasts anticipate Ireland’s growth in 2022. However, a large proportion of the businesses polled in the country expressed a note of caution. Unknowns over the pandemic are still many.
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Greece: payment practices improve amid brighter outlook

Greece should see GDP return to pre-pandemic levels by the end of 2022. However, this brighter outlook appears to be clouded by businesses' sense of caution over long-term after-effects of the crisis.
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Germany: late payments cloud economic recovery

German GDP is forecast to rebound this year, enjoying a more robust acceleration by year-end 2022. However, late payments across industries cast a cloud over this outlook.
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France: credit insurance mitigates trade credit risk

Late payments are a widespread issue among businesses we polled in France. Reportedly, higher use of credit insurance will help them mitigate the impact of trade credit risk on the business.
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Denmark: poor payment practices cause liquidity stress

The results of this year's Payment Practices Barometer for Denmark point to industries wrestling with poor payments behaviour.
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Belgium: heightened insolvency risk clouds outlook

In response to deteriorating payments behaviour over the coming months, businesses polled across Belgium focus on taking steps to protect their business from the impacts of customer credit risk.
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Austria: businesses take hit of substantial write-offs

This year’s Payment Practices Barometer survey reveals that Austria is working hard to overcome the economic impacts of the pandemic. A few indicators were particularly concerning for businesses.
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Global chemicals industry: opportunities and challenges

Although the chemicals industry contracted slightly during the pandemic recession, new opportunities are opening up, driven by shifts in customer demand and new technologies.
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Asia: Covid scars and political rivalry

Asian trade is at a crossroads in the wake of the Covid-19 pandemic and with the US-China trade war ongoing.
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Canada: trade credit KPIs hold steady despite recession

Canadian businesses were largely downbeat when asked about their outlook for the coming 12 months, lagging far behind their USMCA peers.
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US: trade credit use on the rise amid economic distress

Particularly during times of economic distress, which many businesses have experienced during the pandemic, trade credit can act as an important tool for business growth.
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Mexico: trade credit offered to cement trade relations

The optimism expressed by the businesses we spoke to in Mexico is good reason for hope.
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USMCA: late payments affect nearly half of B2B trade

Protection from B2B trade credit risk top future concern for businesses across the USMCA region.
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UAE: DSO upward trend worries businesses

Due to increased costs of managing accounts receivable and a spike in late payments, most of the businesses in the United Arab Emirates are concerned about cash flow levels going forward.
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Taiwan: export-focused businesses express caution

The negative impact on global trade caused by the pandemic has undoubtedly had an effect on Taiwan’s export-driven economy. This may explain why businesses express caution about the coming months.
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Hong Kong: businesses brace for challenges ahead

Hong Kong businesses brace for challenges as they begin to emerge from a tough period of economic contraction.
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China: use of credit insurance on the rise

Businesses polled in China plan to mitigate customer credit risk associated with B2B trade through a more frequent use of trade credit insurance over the next months.
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Indonesia: businesses hit hard by B2B late payments

Indonesia’s more liberal trade credit policies in the year following the outbreak of the pandemic have led to an increase in late payments.
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Australia: businesses brace for an insolvency surge

Why strategic credit management becomes paramount as Australia prepares to face an upward trend in trade credit risk.
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Asia: Half of all credit sales overdue in pandemic recession

Atradius expects there to be an uptick in insolvencies during the second half of 2021. Businesses should take steps to protect their accounts receivable with a robust approach to credit management.
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