management report chemicals 29 market conditions for the international chemical industry downward trend of global was halted at end 2001 in first half 2002 business climate showed signs improvement performance second char acterized by weak industrial demand and rising crude oil prices leading to cost pressure with one third mar ket share countries european union remained major producers worldwide production grew 2 7 3 0 europe mainly on basis continuing strong per formance pharmaceuticals germany holds about 25 saw an increase 5 whereas sales declined 1 9 due domestic lack stimulating exports as well high raw material costs revaluation euro good growth serving innovation driven industries january sector consists five divisions comprises tech applications liquid crystals displays electronic chip manufacture effect pigments specialty
