German plastics makers expect 2.5% growth in 2006

05 May 2006 16:19  [Source: ICIS news]

LONDON (ICIS news)--Plastics makers in Germany expect production to grow faster than gross domestic product (GDP) in 2006 at about 2.5%, industry group PlasticsEurope Deutschland said on Friday.

The German government in late April raised its GDP forecast for 2006 to 1.6%. Production of the key thermoplastics grew by 2.9% in 2005 to 18.0m tonne.

The sector started the year well, PlasticsEurope Deutschland president Günter Hilken said, with demand in January for some materials growing at double digit growth rates. Technical plastics demand in March was also stronger, he added.

Technical, or performance, plastics consumption in Germany in 2005 expanded by 0.3% to 1.7m tonne with demand flat for polyurethanes and engineering plastics like acrylonitrile butadiene styrene (ABS), trade group statistics showed. Polyacetal (POM) demand fell 7.3% but polycarbonate (PC) demand rose 6.9%.

Demand for polyolefins was stronger with growth of 2.0% in 2005 to more than 7.4m tonne. Low and linear low density polyethylene (ldPE and lldPE) demand was up 4.9% and high density polyethylene (hdPE) demand up 2.0%. Polypropylene (PP) demand grew by 0.6%. Polyethylene terephthalate (PET) demand was 7.5% higher but polystyrene (PS) and expandable polystyrene (EPS) demand slumped by 3.3%.

The trade group forecast a 3.5% a year annual rise in plastics consumption in German until 2010.

It said that thermoplastics sales were 5.3% higher at Euro21.0m in 2006. Prices were 7.5% higher over the course of the year but margins remained under pressure, Hilken said. Oil prices rose in 2005 by 42.3%.

Plastics Europe Deutschland said the German industry’s trade balance improved 5.1% in volume terms and 15.6% in value in 2005, with three quarters of exports made to neighbouring countries in the European Union (EU). 

By: Nigel Davis
+44 20 8652 3214

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index

Related Articles