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22% decrease in orders for plastics machinery in Europe: VDMA Report

June 11, 2024

Orders for plastics machinery in Europe have seen a 22% drop after adjusting for price changes. Germany's VDMA , the trade group representing manufacturers of machinery for plastics and rubber, waste and recycling technology, and light hybrid technologies, has highlighted the need for European manufacturers to establish production facilities in large target markets.

Likewise, it is pointed out that it is crucial to offer specialized machinery for different markets in order to compete during this drop in sales.

Global Impact on the Machinery Industry

«The globalization of the world economy is under increasing pressure. China focuses on autonomy, affecting the European mechanical industry. In the United States, the Biden administration follows the Trump administration's 'domestic approach' to trade policy, resulting in a new bipolar world order," said Ulrich Ackermann, head of foreign trade at VDMA, during the group's annual conference. held on June 5 in Dresden, Germany.

 

Responses from Machinery Manufacturers

Some machinery manufacturers are already adapting to these conditions. Arburg GmbH + Co. KG , based in Lossburg, Germany, has announced plans to internationalize its value chain in 2024, including building assembly plants in North America and China. At NPE2024 , Arburg launched a new machine outside of Germany for the first time in 101 years and has begun assembly and configuration at its subsidiary Arburg Inc. in Rocky Hill, Connecticut.

Austria's Wittmann Group is also reconsidering its site strategy due to rising wages and living costs, and South Korea's LS Mtron has invested more than $20 million in a new facility in Texas to produce LS tractors and tractors. injection molding.

Sales Increase Despite Economic Challenges

Despite economic challenges, LS Mtron sales have increased, with its market share growing from 1.5% in 2018 to 7.1% in 2023. Additionally, the German plastics and rubber machinery industry closed 2023 with an increase price-adjusted sales of 13%, according to Ulrich Reifenhäuser, president of the VDMA.

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