Competitiveness of European energy-intensive industries

Deindustrialisation of Europe has already started. The number of EU firms in the Fortune Global 500 has shrunk and labour productivity growth has also declined significantly. Sectors including aluminium, refining, steel, and ammonia have already started deindustrialising: Europe’s share of worldwide aluminium production fell from 30% in 2000 to 5% in 2022, while the EU has lost 2/3 of its primary aluminium production since 2008. Moreover, 70% of ammonia production capacity was curtailed during the peak energy prices in 2022.

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