German plastics processing sector records 10% growth in turnover in 2006

24-Feb-07

German plastics processors have achieved a 10% growth in turnover to €49.3 bln as per an announcement by the industry's trade association GKV. The growth was lower in volume terms, but still impressive at 8.5% to 12.2 mln tons. Surprising, a chunk of the growth was contributed by the return to growth of plastics application in the building industry. The turnover in the sector rose in 2006 by 12.5% to €10.6 bln and volume by 11.0% to 3.1 mln tons. This upswing has been seen after years of decline in the domestic market that could only just be offset by sales abroad. Domestic growth in the building industry has been recorded at 9%, lower than 12% growth recorded in export business. This year saw a tremendous boom in the building industry, leading to a situation of a shortfall in supply in insulation material, delaying house completions.