REACH registration costs top €2bn Euros
Many companies have withdrawn substances from marketplace as a result
The total costs for REACH registration so far are much higher than originally expected according to a new survey by the Chemical Business Association. The survey reveals that total costs are likely to be between €1bn and €2.15bn, underestimating the Regulatory Impact Assessment’s (RIA) figure of €2.3bn for the full 11 year implementation period.
According to the survey, 35% of chemical manufacturers and 60% of formulators have withdrawn at least one substance or application from the workplace. Furthermore, 84% of companies undertook the registration process themselves, while 60% switched to suppliers outside the EU and 37% switched to other suppliers within in the EU.