NEWS | MARKET UPDATE
The number of respondents was too small to be certain on any sectorial trends, but companies involved in flexible non-food packaging and rigid packaging showed a slightly higher interest in localisation of production.
Optimism evident The survey confirms that many plastics companies experienced business conditions and impacts on an unprecedented scale and with no forewarning. However, optimism remains intact across much of the sector. More than 30% of respondents said they were optimistic or very optimistic for their business in the second half of the year, rising to more than 70% when including those with a neutral (no better, no worse) view. Less than 30% held a pessimistic view while 21% expect their business activity to return to pre-Covid-19 levels during this year. Extending that timeframe
to 2021 reveals an even brighter outlook, with 52% of respondents holding an optimistic view against just 13% pessimistic. In fact, the survey reveals 64% of respondents expect their business activity to be back to pre-Covid-19 levels by the end of 2021. Of those expecting a slower return to pre-pandemic activity levels, 30% are forecasting 2022 and just 6% beyond that. In terms of the strategic actions plastics business are planning over the next two years to realise this recovery to pre-Covid-19 levels, the majority of companies said they will maintain or increase their activity in research and development
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How would you describe your business outlook for the second half 2020?
How would you describe your business outlook for 2021?
(88%), sales and marketing (89%), and new product development (89%). More than 60% of
respondents said they would INJECTION WORLD | September 2020
also increase their efforts to develop new markets. In terms of market focus, the survey revealed a 5% swing among respondents to
medical and 2% swings to non-food flexible food packaging and to construction/infrastructure. Automotive and transport,
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