Italian rubber & plastics machinery makers see sings of slowdown

Milan, Italy – Italian rubber & plastics machinery industry has witnessed progressive declines in trade in the first half of 2024, latest data by trade association Amaplast shows.

After positive consolidated year-end results for both imports and exports in 2023, imports were “consistently lower” in the early months of 2024 compared to the same period the year before, said Amaplast 23 Sept.

Drops, said the trade association, entered into the double digits territory in the second quarter.

The results, said Amaplast, reflect a reduced willingness to invest, set against a backdrop of broader economic contraction, with a particular impact on the industrial sector.

Over the three-month period, sales fell 12% year-on-year to €483 million, with imports noticeably declining from all three main source countries: Germany, China, and Austria.

Overall, the first half of 2024 closed with exports still in the positive range reporting a 2.5% year-on-year growth to €1.73 billion.

But the period, said Amaplast, ended “on a diminishing trend because of lower demand for a number of different types of machinery and moulds.

Exports to Germany – historically main partner of Italian manufacturers – have been “lacklustre” as the country grapples with “an unfavourable economy and a complicated political situation,” said Amaplast.

Furthermore, sales to the US, the industry’s second largest export destination’ have “somewhat slowed down”, bucking the recent high trends.

Elsewhere in the EU, exports to Spain and Poland rose 13% and 32% year-on-year respectively while demand in France remained stable.

Meanwhile, double-digit growth was recorded for a number of extra-EU markets including Mexico (+26%); China (+36%); Turkey (+50%); India (+22%); and the UK (+24%).

On average, Amaplast noted that exports showed “significant growth” towards the Far East, North America (excluding the US), extra-EU Europe, and Sub-Saharan Africa.

In terms of order trends, the association said orders are showing a negative trend, but with differences, some quite large, among the different technologies.

“After a particularly negative first quarter, some faint signs of recovery were noted in subsequent months,” it added.

With export data lagging 6-9 months due to the time of delivery, Amaplast said it expected to see a contraction in year-end results compared to 2023.