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.
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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).
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