Double-Digit Growth
The German plastics and rubbery machinery industry is set to achieve sales growth of more than 11% in the current year, with a similar figure of just under 11% expected for 2011. Growth is largely driven by foreign demand, particularly from Asia.
"After last year's slump of 30%, this positive forecast has been greeted with a great sense of relief," Ulrich Reifenhäuser, chairman of the VDMA plastics and rubber machinery association says, in respect to the figures released at the annual meeting. "However, none of this can disguise the fact that even after taking into account growth of 11% we will still be 25% down on the all-time high recorded in 2008."
"We are aware of the fact that our growth scenario has come about against a backdrop of major risks," Thorsten Kuehmann, managing director of the association adds. "These include the fragile state of the financial markets and the danger of overheating in the emerging economies, particularly China and India. Increasing energy and raw materials prices, especially for crude oil, may also jeopardise the recovery." He also pointed out that the extent to which the current economic upturn is attributable to fiscal measures, such as the economic stimulus programmes, was not clear either. "On the other hand, the weakness of the Euro is likely to offer support and create opportunities for the export-oriented plastics and rubber machinery industry," Thorsten Kuehmann explains.
For the first time the VDMA plastics and rubber machinery association has published a scientifically-based forecast for medium-term developments in the industry. This is set to continue on a six-monthly basis - the next one being due in time for K 2010, in Düsseldorf.
