Germany coatings, printing colours still performing below 2008 levels

17 May 2013 18:00  [Source: ICIS news]

LONDON (ICIS)--Five years after the global economic and financial crisis, sales and production in Germany’s coatings and printing colours industry are still below 2008 levels, a trade group said on Friday.

In an update, Frankfurt-based Verband der deutschen Lack- und Druckfarbenindustrie, said that even in 2013 the industry would not regain its pre-crisis levels, mainly because of recessions in many European economies and only "mini-growth" in Germany.

Rather, the group projected that the industry’s 2013 sales volumes would decline by up to 2% from 2012, with sales expected at €7.7bn ($9.9bn).

The group said that sluggish economic growth in the first months of 2013 was weighing on the industry.

Klaus Meffert, the group’s president, said that in March business condition were “catastrophic”, largely because of an extended cold-weather period that hurt sales to the construction and building sector.

Meffert added that Germany’s policies to promote improved heating insulation in homes and buildings were “chaotic”, creating uncertainty among home and commercial property owners.

Meanwhile, the recession in Europe was hurting industrial coatings sales. Exports to EU countries are a key market for the industry.

Customers were cautious in placing orders – in particular for furniture and wood coatings, as well as for coatings in the automobile, electro and metals sectors, the group said.

($1 = €0.78)

Paul Hodges studies key influences shaping the chemical industry in his Chemicals and the Economy Blog

By: Stefan Baumgarten
+1 713 525 2653

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