FRANKFURT, Germany—A recent survey among members of the Plastics and Rubber Machinery Association within the VDMA, reveals that the tentative optimism emerging towards the latter half of 2020 seems to have been justified.
Then, the figures were already hinting at a turnaround in the plastics and rubber machinery industry, with order volumes lifting from October onwards. The year closed with a 7 percent increase in orders compared to 2019.
The member companies of the German trade association responding to the survey say they are looking forward this year to a continued improvement in the order situation as well as expanding turnover volumes.
While demand for plastics and rubber machinery plummeted during the first half of last year, the mood clearly changed for the better across all regions in the second half, noted Ulrich Reifenhaeuser, Chairman of the VDMA's Plastics and Rubber Machinery trade association.
"The situation in China and Germany is seen as particularly positive," he said.
He added that expectations regarding the development of incoming orders in the current first half of 2021 were "entirely optimistic."
Sales, too, are showing an upward trend. Nearly half of the respondents foresee growth in turnover for the first half of 2021, a figure that climbs to more than 50 percent for the second half of the year. As a result, close to half of the survey respondents indicated that they would be recruiting new staff in the first half-year of 2021.
"It looks like the plastics and rubber machinery industry can look forward to a successful business year. We will be viewing the coming months with anticipation, and hope that our expectations will be met," said Thorsten Kuehmann, managing director of the Plastics and Rubber Machinery trade association.