European polymer demand | markets
The global downturn and Eurozone crisis hit Europe’s economy hard. AMI’s Carole Kluth provides this exclusive analysis of what that meant for polymer demand in 2013 and what the future holds
When AMI published its last review of the European plastics industry in 2011 the market was making a tentative recovery from the effects of the global downturn of 2008 and 2009. However, the modest recovery seen in 2010 and through the first half of 2011 was beginning to run out of steam by the last quarter of 2011 thanks to the emerging eurozone crisis and for 2012 growth in the industry stalled. The drop in demand over 2012 and 2013 has been far
less severe than in 2008-2009 and polymer producers and processors alike have been much more savvy about managing their inventories, not getting caught out as they did in the sudden downturn of 2008. However, the declines in government spending, manufacturing and consumer confidence resulted in an overall contraction of polymer demand of just over 1% in 2012 to 36.5 million tonnes. That level of volume demand is expected to be maintained through a subdued 2013. Overall, the industry shows no sign yet of returning to the levels of volume growth seen pre-2007. It seems the European plastics industry is learning to cope in a low growth environment. Industry players are used to the cyclical nature of the petrochemicals business, and with it polymer demand.
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European plastics demand: Surviving in a slow market
However, the levels of volatility - in terms of both pricing and demand patterns - continue to present chal- lenges to an industry that has also been grappling with issues of market maturity, rising costs, increased global competition, environmental opposition and increased regulatory scrutiny. The market has been undoubtedly tough over the past five years, but most companies have come through the downturn and continue to thrive and grow through the use of innovative technologies, material developments and new application gains. The discipline of the downturn has, it seems, made companies cut costs, preserve cash and be judicious in their investments. Those that are surviving are increasingly thriving.
November/December 2013 | INJECTION WORLD 21
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