Plastics processing is declining in Germany

On the occasion of the annual press conference held in recent days, GKV (Gesamtverband Kunststoffverarbeitende Industrie), the German association of the plastics processing industry drew a mixed assessment of the past year.

Over 2023, the plastics processing industry in Germany recorded shrinking sales and the industry's sales fell by around 6% to 72.5 billion euros compared to the previous year. The association sees the reason for this decline in sales in the currently unfavourable conditions for German industry, which lead to cautious expectations for 2024 as well. In this context, companies are reluctant to invest. This is also due to the uncertain future prospects for the German manufacturing industry in general. 

“The causes of the current economic crisis in Germany are predominantly structural in nature. That’s why we need a future-oriented growth agenda so that industry in Germany can pick up speed again in two to three years,” pointed out GKV president, Helen Fürst (in the picture above). “The agenda must particularly address the issues of energy, bureaucracy, investments and digitalization.” The president continued: “I am convinced that the growth agenda can solve the most pressing problems in our economy, restore reliability and lost trust and give the people of Germany new confidence,” concluded Fürst.

The plastics processing industry is one of the major economic sectors in Germany. Composed mainly of medium-sized enterprises, it generates an annual turnover of almost EUR 79 billion and employs more than 326.5 million people in 3,013 companies.