VDMA revises down forecast for polymer machinery sales in 2024

Frankfurt, Germany – Germany's polymer processing machinery industry is facing continuing weakness in sales and orders, latest figures from the VDMA indicate.

The plastics & rubber machinery association has revised down its sales outlook for full-year 2024 from a previous forecast of '0-5% decline' to a fall of 10-15%. 

For the eight months to end of August, orders fell 16% year-on-year, with weak demand affecting all markets, Frankfurt-based VDMA reported 7 Oct.

The negative trend was particularly evident in the domestic European market, while demand in China and the US is also weakening "considerably" noted VDMA chairman Ulrich Reifenhauser.

"We still have to wait a little longer for the turnaround," said Reifenhauser, who also noted “individual glimmers of hope” in markets such as Mexico and India.

"The expected lowest point in terms of incoming orders has not yet been reached," added Thorsten Kuehmann, managing director of the VDMA association.

However, according to Kuemann, orders could improve somewhat towards the end of the year, as central banks in various countries initiate interest rate cuts.

However, due to the lag in production, Kuemann said it would take until “the middle of next year for the positive impetus to be reflected in sales.”

Market recovery would be timely ahead of the K show, to be held in Dusseldorf, Germany in October 2025, according to Kuehmann.