The chemical industry is still one of Austria's key economic sectors with revenues in excess of 9 billion euro in 2001. Austria's chemical industry has undergone some significant changes over the last ten years. Previously the major chemical companies were part of the large state owned holding company. After long periods of ongoing reorganisation of Austria's state owned many companies in the chemical industry were sold off and are now owned by major European and American companies. Several private owned chemical companies also changed ownership and were integrated into the major international Multinationals. 

Some of Austria's chemical production companies have however decreased production and become primarily a distribution company often due to Austria's strict environmental regulations.
A high percentage of more than 70% of total production is exported and accounts for 7.4% of total Austrian exports. About 330 companies with over 42,000 workers are operating in the chemical industry. The most important trading partners are Germany, Italy, Switzerland and Hungary.

The Austrian chemical industry is known for producing a large variety of high quality products.  Austria is a leading producer of water-borne coatings, antibiotics and newly developed chemical fibres. 

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