German plastics and rubber machinery sales to grow by 18% this year, forecasts VDMA
According to a statement released by German Engineering Federation (VDMA)
on June 9, the country’s plastics and rubber machinery manufacturers are set to achieve sales growth of around 18% this year, with output rising to 5.8 billion euros. Further growth of just under 7% is forecast for 2012.
“This means that the industry has returned to the high pre-crisis levels more quickly than expected and will top the previous record set in 2008,” Ulrich Reifenhäuser, Chairman of VDMA said.
Sales in Germany’s domestic market are expected to grow more rapidly than export both this year and next. Mr Reifenhäuser cited that “with the strong industrial recovery many firms are working at full capacity and are increasingly planning to invest in order to expand.”
Concerning foreign sales, Asian markets and emerging countries are leading the way this year, but the recovery has now spread to a large number of countries in Western Europe as well as the US, and demand from these countries for plastics and rubber machinery has also gathered pace.
German machinery manufacturers continue to be the world export leaders in 2011. “However, Chinese competitors have the edge in terms of global output of plastics and rubber machinery,” said Thorsten Kühmann, Managing Director of VDMA. “In 2009, the year of the economic crisis, the Chinese industry ranked first; it was well able to maintain this position in 2010 and is set to continue to expand its share of the world market in the years ahead.”
Source : www.adsalecprj.com