FRANKFURT, GERMANY (March 20, 12:15 p.m. ET) — Turnover of the German plastics processing industry grew by 8.8 percent in 2011 to an all-time record of 55.9 billion euros ($73.7 billion), passing the previous 2007 record of 53 billion euros ($69.9 billion).
The volume of plastics consumed rose by more than 10 percent to 13.5 million metric tons, also breaking the previous 12.9 million metric tons record of 2007, according to GKV, the German trade association for plastics processors (Gesamtverband Kunststoffverarbeitende Industrie eV).
Presenting 2011 results at a Feb. 22 briefing in Frankfurt, the association said its member companies have returned to the production levels that were interrupted by the financial crisis.
GKV President Bernd-O Kruse said growth continued in the first half of the year in many areas despite some cooling off in the second part.
Subject to unforeseen circumstances, such continuing Eurozone problems or a cooling of the world economy, the industry will see “stable development at a high level” as “the 2008-2009 crisis has now finally become history”, said Kruse. This should mean that the industry should continue its traditional path, growing faster than Germany's gross national product (up 3 percent in 2011).
Although exports have been the main driving force in the past decade, the domestic market took up this role in 2011, growing 10 percent to 36.3 million euros ($47.9 million).
Exports grew 7.1 percent to 19.6 million euros ($25.8 million), dropping slightly to a 35 percent share in view of strong domestic growth.